Avangrid, Inc. (NYSE:AGR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Avangrid, Inc. (NYSE:AGR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 18, 2018, the Board of Directors (the “Board”) of Avangrid, Inc. (the “Corporation”) approved, upon recommendation by the Compensation, Nominating and Corporate Governance Committee of the Board, payment of a special, one-time recognition award of $375,000 to Richard J. Nicholas, the former Senior Vice President – Chief Financial Officer of the Corporation in connection with Mr. Nicholas’ retirement from the Corporation, effective July 7, 2018. The special, one-time award was approved, among other things, to recognize Mr. Nicholas’ significant contributions to the Corporation as its initial chief financial officer and to the successful implementation of the Corporation’s Forward 2020 plan including certain strategic divestments and investments.


About Avangrid, Inc. (NYSE:AGR)

Avangrid, Inc. is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England. Avangrid Renewables operates 6.3 gigawatts of electricity capacity, primarily through wind power, in states across the United States. Iberdrola S.A. (Madrid: IBE), a worldwide leader in the energy industry, owns 81.5% of AVANGRID.

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