Company: AILIM
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001002910-25-000055
Chunk: 74

Company: Ameren Illinois Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 74
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, newly issued shares, treasury shares, or shares purchased in the open market or in privately negotiated contracts.

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Table of Contents

Ameren has entered into an equity distribution sales agreement pursuant to which Ameren may offer and sell from time to time up to $1.75 billion of its common stock through an ATM program, which includes the ability to enter into forward sale agreements. Under the ATM, Ameren issued 2.9 million, 3.2 million, and 3.4 million shares of common stock and received proceeds of $233 million, $299 million, and $292 million in 2024, 2023 and 2022, respectively. These proceeds were net of $2 million, $3 million and $3 million, respectively, in compensation paid to selling agents. As of December 31, 2024, Ameren had approximately $550 million of common stock available for sale under the ATM program, which takes into account the forward sale agreements in effect as of December 31, 2024 discussed below.The forward sale agreements outstanding as of December 31, 2024, can be settled at Ameren’s discretion on or prior to dates ranging from January 23, 2026 to March 6, 2026. On a settlement date or dates, if Ameren elects to physically settle a forward sale agreement, Ameren will issue shares of common stock to the counterparties at the then-applicable forward sale price. The initial forward sale price for the agreements ranged from $81.00 to $93.06, with an average initial forward sale price of $84.14. Each forward sale price is subject to adjustment based on a floating interest rate factor equal to the overnight bank funding rate less a spread of 75 basis points, and will be subject to decrease on certain dates specified in the forward sale agreements by specified amounts related to expected dividends on shares of the common stock during the term of the forward sale agreements. If the overnight bank funding rate is less than or more than the spread on any day, the interest rate factor will result in a reduction or an increase, respectively, of the forward sale price. The forward sale agreements will be physically settled unless Ameren elects to settle in cash or to net share settle. At December 31, 2024, Ameren could have settled the forward sale agreements with physical delivery of 2.5 million shares of common stock to the respective counterparties in exchange