Business Context and Reporting Period
This Form 8-K Current Report was filed by American Water Works Company, Inc. on November 14, 2008. The filing addresses corporate governance and employee compensation matters rather than operational or financial performance results.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the amendment of deferred compensation plans and does not contain financial statement data.
Material Changes
The primary material change reported is the Board of Directors' approval on November 14, 2008, of amendments to two deferred compensation plans, effective January 1, 2009:
- Employee Plan: The Nonqualified Savings and Deferred Compensation Plan for Employees was amended to permit participants to invest deferred amounts in notional Company common stock and to ensure compliance with Section 409A of the Internal Revenue Code.
- Director Plan: Similar revisions were approved for the Nonqualified Savings and Deferred Compensation Plan for Non-Employee Directors.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future financial guidance, market outlook, or specific business risks. The only noted contingency is the regulatory requirement to comply with Section 409A of the Internal Revenue Code, which drove the plan amendments.
Investor Verification Checklist
- Verify the full text of the amended Employee Plan (Exhibit 99.1) and Director Plan (Exhibit 99.2) to understand specific investment terms and vesting schedules.
- Confirm the effective date of the new plan provisions is January 1, 2009.
- Review the referenced Form S-1 Amendment No. 1 (file no. 333-155245) for the original plan language incorporated by reference.