Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 34

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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idends declared ($0.475 per share)— — — (48)(48)Net income— — — 109 109 Balances as of March 31, 2024103,023,507 1,828 (4)1,635 3,459 Issuances of shares pursuant to equity-based plans43,176 1 — — 1 Stock-based compensation— 4 — — 4 Dividends declared ($0.500 per share)— — — (52)(52)Net income— — — 72 72 Balances as of June 30, 2024103,066,683 1,833 (4)1,655 3,484 Issuances of shares pursuant to equity-based plans37,837 — — — — Issuances of shares pursuant to equity agreements2,351,070 100 — — 100 Stock-based compensation— 5 — — 5 Other comprehensive income— — (1)— (1)Dividends declared ($0.500 per share)— — — (52)(52)Net income— — — 94 94 Balances as of September 30, 2024105,455,590 $1,938 $(5)$1,697 $3,630 At-the-Market Offering Program—In July 2024, PGE entered into an equity distribution agreement under which it could sell up to $400 million of its common stock through at-the-market offering programs. In the fourth quarter of 2024 the Company entered into forward sale agreements for 1,420,049 shares. In December 2024, the Company issued 1,066,549 shares pursuant to the forward sale agreements and received net proceeds of $50 million. The Company entered into forward sale agreements for 1,996,890 shares, 1,707 shares, and 3,757,835 shares in the first, second, and third quarters of 2025, respectively. In August 2025, the Company issued 1,114,529 shares pursuant to the forward sale agreements and received net proceeds of $49 million. The Company could have physically settled the remaining amount by delivering 4,995,403 shares in exchange for cash of $209 million as of September 30, 2025