Business Context and Reporting Period
This Form 8-K is a current report filed by the Tennessee Valley Authority (TVA), a corporate agency of the United States. The report covers events occurring on January 3, 2019, with the filing signed on January 7, 2019.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly administrative and does not contain financial performance data.
Material Changes
The report discloses a change in the composition of the Board of Directors under Item 5.02:
- Departure of Director: The term of Eric M. Satz as a member of the TVA Board of Directors ended on January 3, 2019.
- Reason for Departure: His term expired upon the adjournment of the most recent session of Congress.
- Background: Although his original term of office expired on May 18, 2018, the TVA Act permitted him to continue serving until the end of the congressional session.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the current composition of the TVA Board of Directors following the departure of Eric M. Satz.
- Confirm if a successor has been appointed to fill the vacancy on the Board.
- Review the TVA Act provisions regarding director tenure relative to congressional sessions.