El Paso Electric Company (NYSE:EE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
This Current Report on Form 8-K/A amends our Current Report on Form 8-K filed on February 5, 2018.
On January 31, 2018, the Compensation Committee of the Board of Directors of El Paso Electric Company approved an amendment (the “Amendment”) to the El Paso Electric Company Amended and Restated 2007 Long-Term Incentive Plan. The Amendment will be effective as of August 1, 2018, by approval from the Federal Energy Regulatory Commission, which the Company received on June 29, 2018. Please refer to El Paso Electric Company’s Current Report on Form 8-K filed on February 5, 2018, for a description of the terms of the Amendment and the award agreements adopted in connection therewith and a copy of the Amendment and the award agreements.
About El Paso Electric Company (NYSE:EE)
El Paso Electric Company is engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts. The Company’s energy sources consists of approximately 47% nuclear fuel, 34% natural gas, 6% coal, 13% purchased power and 1% generated by Company-owned solar photovoltaic panels and wind turbines. The Company has power purchase agreements for over 107 Megawatts from solar photovoltaic generation facilities. The Company serves approximately 404,500 residential, commercial, industrial, public authority and wholesale customers. The Company distributes electricity to retail customers principally in El Paso, Texas and Las Cruces, New Mexico. In addition, its wholesale sales include sales for resale to other electric utilities and power marketers.
