Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 2

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part II, Item 1A
Chunk 2
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Item 1A.Risk Factors.

Other than the item noted below, there have been no material changes to PGE’s risk factors set forth in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 14, 2025.

Trade tariffs and related market volatility and supply chain disruptions could increase PGE’s operating costs, impair PGE’s ability to complete capital projects, and impede access to capital markets.

Recently imposed trade tariffs could negatively impact PGE’s financial condition, results of operations, and cash flows. While the impact of these trade tariffs is difficult to predict at this time, economic volatility, supply chain disruption, or cost increases triggered by these trade tariffs could negatively affect PGE’s ability to execute its strategic plan. Adverse capital and credit market conditions caused by the new trade tariffs could negatively affect the Company’s access to capital, cost of capital, and ability to complete capital projects.

Item 5.Other Information.

Rule 10b5-1 Trading ArrangementsDuring the three months ended March 31, 2025, the following director (as defined in Rule 16a-1(f) of the Exchange Act) adopted a “Rule 10b5-1 trading agreement,” as the term is defined in Item 408(c) of Regulation S-K:Name(Title)Action Taken (Date of Action)Type of Trading ArrangementDuration of Trading ArrangementAggregate Number of Securities to be Purchased or Sold*Michael Lewis(Board Director)Adoption (February 20, 2025)Rule 10b5-1 trading arrangementUntil March 19, 2026, or such earlier date upon which all transactions are completed or expire without executionUp to 1,564 shares of common stock* Estimated. Board members receive stock grants annually in July that vest immediately. Mr. Lewis plans to sell 50% of the shares awarded to him in July 2025. For reference, 50% of his 2024 grant would have been 1,564 shares.

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Item 6.Exhibits.

ExhibitNumberDescription3.1Third Amended and Restated Articles of Incorporation of Portland General Electric Company (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed May 9, 2014).3.2Twelfth Amended and Restated Bylaws