PG&E Corp 8-K, filed Apr 7, 2021
PG&E Corp (PCG)
8-K
2021-04-07
For: 2021-04-07
View Original
Added on
April 03, 2026
About this 8-K
PG&E Corp filed this 8-K on April 7, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: April 7, 2021
(Date of earliest event reported)
|
Commission File Number
|
Exact Name of Registrant
as specified in its charter
|
State or Other Jurisdiction of Incorporation or Organization
|
IRS Employer Identification Number
|
|||
|
|
|
|
|
|||
|
|
|
|
|
 |
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Address of principal executive offices) (Zip Code)
|
(Address of principal executive offices) (Zip Code)
|
|
|
(
|
(
|
|
|
(Registrant’s telephone number, including area code)
|
(Registrant’s telephone number, including area code)
|
|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
|
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange
on which registered
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this
chapter).
|
Emerging growth company
|
PG&E Corporation
|
|
|
Emerging growth company
|
Pacific Gas and Electric Company
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
|
PG&E Corporation
|
☐ |
|
Pacific Gas and Electric Company
|
☐ |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On April 7, 2021, Pacific Gas and Electric Company (the “Utility”) announced that its board of directors appointed Jason M. Glickman, 40, as Executive Vice President,
Engineering, Planning, and Strategy of the Utility, effective May 3, 2021. Mr. Glickman will serve as a principal executive officer of the Utility, together with Adam L. Wright, Executive Vice President, Operations and Chief Operating Officer, and
Marlene M. Santos, Executive Vice President and Chief Customer Officer.
Mr. Glickman is currently a Partner and the Global Head of Utilities and Renewables at
Bain & Company. He became a Partner in 2014 and the Global Head of Utilities and Renewables in March 2020. His work focuses on advising leading energy ecosystem companies on large-scale transformation, spanning strategy and
sustainability, as well as cost and digital transformation. Prior to becoming a Partner, Mr. Glickman served as a Consultant at Bain & Company from 2007 to 2014. Prior to that, Mr. Glickman served as a Principal at EY–Parthenon (formerly The
Parthenon Group) from 2002 to 2007.
In connection with Mr. Glickman’s appointment, Mr. Glickman will receive an annual base salary of $675,000. Mr. Glickman will be eligible to participate in the Utility’s
annual Short-Term Incentive Plan, as in effect from time to time, with an initial target participation rate of 75% of his base salary. Mr. Glickman will be eligible to participate in the Utility’s Long-Term Incentive Plan with an initial target
value of $1.75 million for 2021. Mr. Glickman will receive a sign-on bonus of $500,000 in cash, which is subject to clawback if he voluntarily resigns within two years. Mr. Glickman will also be eligible to receive executive benefits, as
described in PG&E Corporation and the Utility’s joint Annual Report on Form 10-K/A filed on March 31, 2020.
There are no arrangements or understandings between Mr. Glickman and any other persons pursuant to which he was selected as Executive Vice President, Engineering,
Planning, and Strategy of the Utility. Further, there are no family relationships between Mr. Glickman and any director or executive officer of PG&E Corporation or the Utility. In addition, Mr. Glickman has not been party to any reportable
transactions with PG&E Corporation or the Utility pursuant to Item 404(a) of the Securities and Exchange Commission Regulation S-K.
A copy of the related news release dated April 7, 2021 is attached to this report as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
|
Exhibit Number
|
Description
|
|
|
104
|
|
Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned
thereunto duly authorized.
| PG&E CORPORATION | ||||
|
Date: April 7, 2021
|
By:
|
/s/ JOHN R. SIMON | ||
| Name: | John R. Simon | |||
| Title: | Executive Vice President, General Counsel and Chief Ethics & Compliance Officer | |||
| PACIFIC GAS AND ELECTRIC COMPANY | ||||
|
Date: April 7, 2021
|
By:
|
/s/ BRIAN M. WONG | ||
| Name: | Brian M. Wong | |||
| Title: | Vice President, General Counsel and Corporate Secretary | |||
Exhibit 99.1
Marketing & Communications | 77 Beale Street | San Francisco, CA 94105 | 415.973.5930 | www.pge.com
|
April 7, 2021
|
|
PG&E Appoints Jason Glickman as Executive Vice President, Engineering, Planning, and Strategy
Glickman Joins from Bain & Company and is a Recognized Energy Industry Expert with Deep Strategic Experience
Appointment is Eighth Leadership Addition Since January to Help Revamp Senior Team
SAN FRANCISCO — Pacific Gas and Electric Company (PG&E) today announced the appointment of Jason
Glickman as Executive Vice President, Engineering, Planning, and Strategy, effective May 3, 2021. Mr. Glickman will report to Patti Poppe, Chief Executive Officer of PG&E Corporation.
“I am thrilled to welcome Jason to PG&E. He is a seasoned and strategic industry thought leader with an impressive track record of helping energy companies meet their goals and
achieve large-scale transformations,” said Ms. Poppe. “He understands our industry inside and out and has what it takes to move an investor-owned utility toward a more resilient, safe, sustainable and affordable energy future. I am confident that
Jason’s expertise, vision and leadership will help us continue to strengthen PG&E for our customers and communities.”
In this newly created role, Mr. Glickman will oversee the utility’s near-term priorities and long-term planning. This will include oversight of PG&E’s utility assets, including the
gas system and electric infrastructure.
“Having spent the last 20 years living, working and raising a family in Northern California, I see enormous opportunities to rethink and rebuild our energy infrastructure and
transportation systems to help the state achieve its bold clean energy goals and combat the changing climate. I’m honored to join PG&E and this new leadership team that’s focused on delivering safe, reliable and clean energy to the 16 million
people we are fortunate to serve every day,” said Mr. Glickman.
Mr. Glickman brings industry expertise and extensive strategic experience to PG&E. He currently serves as a Partner and the Global Head of Utilities and Renewables at Bain &
Company and resides in Oakland, CA. He became a Partner in 2014 and the Global Head of Utilities and Renewables in March 2020. At Bain, his clients have included major investor-owned utilities and other industry leaders, with which he has worked
closely over sustained periods of time to deliver measurable results. His work has focused on advising leading energy companies on strategy and sustainability, as well as affordability and digital transformation. He has designed and implemented
comprehensive long-term plans that encompass asset strategy, engineering and operations, and he has led several multi-year enterprise affordability programs to benefit customers.
Prior to becoming a Partner at Bain, Mr. Glickman served as a consultant there from 2007 to 2014. Prior to that, Mr. Glickman served as a Principal at EY – Parthenon (formerly The
Parthenon Group) from 2002 to 2007. He holds a BS and an MS in Management Science & Engineering from Stanford University.
Since Ms. Poppe began as the company’s new CEO in January 2021, PG&E has bolstered its leadership team with eight new senior executive hires with significant energy,
transformation, operations and safety experience.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000
square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.