Business Context and Reporting Period
This Form 8-K was filed on May 7, 2026, by Entergy Texas, Inc. and its affiliated registrants, including Entergy Corporation. The filing reports on corporate governance actions taken by the Talent & Compensation Committee (TCC) of the Board of Directors regarding executive compensation plans.
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 amendments to executive retirement plans and does not contain financial performance data.
Material Changes
The primary material change reported is the amendment of the System Executive Retirement Plan (SERP) and the Pension Equalization Plan (PEP) effective May 7, 2026. Key changes include:
- Benefit Freeze: For CEO Andrew S. Marsh, Entergy Mississippi CEO Haley R. Fisackerly, and Entergy Louisiana CEO Phillip R. May, Jr., benefits are frozen as of November 30, 2026. Any separation from service after this date will calculate benefits as if the separation occurred on November 30, 2026.
- Early Retirement Age Adjustment: Mr. Marsh is no longer required to obtain prior written consent to retire and receive an early retirement benefit under the SERP upon attaining age 60, reduced from the previous requirement of age 65.
- PEP Freeze: Mr. Marsh's benefits under the Pension Equalization Plan are similarly frozen as of November 30, 2026.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. The primary contingency noted is that all amended benefits remain subject to existing SERP and PEP provisions, including applicable forfeiture conditions.
Investor Verification Checklist
- Verify the specific actuarial assumptions and compensation figures used to calculate the frozen benefit values as of November 30, 2026.
- Review the full text of the amended SERP and PEP to understand the specific forfeiture conditions that apply to the executives.
- Confirm the impact of the age 60 early retirement provision on Mr. Marsh's potential retirement timeline and associated costs.
- Check for any related proxy statements or 10-K filings that may provide broader context on executive compensation trends.