Tennessee Valley Authority - Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by the Tennessee Valley Authority (TVA), a corporate agency of the United States, on October 30, 2009. The report covers events occurring on October 27, 2009, specifically regarding executive compensation adjustments.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on a specific executive compensation arrangement.
Material Changes
On October 27, 2009, TVA President and CEO Tom Kilgore approved compensation adjustments for William R. Campbell, Senior Vice President of Fleet Engineering. Key changes include:
- Salary: Set at $469,000, effective October 1, 2009.
- Incentive Plans: Beginning with the performance cycle ended September 30, 2009, Mr. Campbell's opportunity under both the Executive Annual Incentive Plan and the Executive Long-Term Incentive Plan is adjusted to 45 percent of his annual salary.
- Role Context: Mr. Campbell was appointed to this position in February 2009, having previously served as Chief Nuclear Officer and Executive Vice President, Nuclear Power Group.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on financial performance, risks, contingencies, or unusual items beyond the specific executive compensation adjustment.
Investor Verification Points
- Verify the effective date of the new salary ($469,000) and incentive structure (45% of salary) for William R. Campbell.
- Confirm the performance cycle start date (September 30, 2009) for the new incentive plan terms.
- Note that this filing does not disclose broader financial results for the period.