Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 78

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 4
Chunk 78
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A of the adoption or termination of a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

Amended and Restated Executive Annual Incentive Plan 

On January 30, 2025, TVA amended and restated its Executive Annual Incentive Plan (“EAIP”) to eliminate the use of the corporate multiplier and to authorize the TVA Board of Directors ("TVA Board") to utilize a standard discretionary range to adjust the scorecard achievement by plus or minus 20 percent beginning with the fiscal year 2025 performance cycle.  This standard discretionary range allows the TVA Board to account for extraordinary occurrences or significant events that impact TVA’s performance.  A copy of the amended and restated EAIP, which also includes minor administrative revisions, is attached as an exhibit to this report and is incorporated herein by reference.  The foregoing description is qualified in its entirety by reference to such document.

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Table of Contents                               

ITEM 6.  EXHIBITS

Exhibit  No. Description 3.1Tennessee Valley Authority Act of 1933, as amended, 16 U.S.C. §§ 831-831ee (Incorporated by reference to Exhibit 3.1 to TVA's Quarterly Report on Form 10-Q for the quarter ended December 31, 2016, File No. 000-52313)3.2Bylaws of the Tennessee Valley Authority Approved by the TVA Board on May 18, 2006, as amended on April 3, 2008, May 19, 2008, June 10, 2010, February 13, 2014, August 21, 2014, and November 6, 2014 (Incorporated by reference to Exhibit 3.2 to TVA's Annual Report on Form 10-K for the year ended September 30, 2014, File No. 000-52313)10.1Facility Lease-Purchase Agreement Dated as of October 2, 2024, Between Johnsonville Aeroderivative Combustion Turbine Generation LLC and TVA (Incorporated by reference to Exhibit 10.24 to TVA's Annual Report on Form 10-K for the year ended September 30, 2024, File