NRG Energy announces $950M accelerated share repurchase program

NRG Energy announced that it has entered into accelerated share repurchase, or ASR, agreements with multiple dealers to repurchase $950M of NRG‘s common stock. Under the ASR agreements, NRG will pay $950M to the dealers and receive shares of NRG’s common stock from each dealer on the specified settlement dates. NRG expects to receive over 80% of the shares to be repurchased during the initial settlement period. The total number of shares purchased by NRG pursuant to the ASR agreements will generally be based on the volume-weighted average prices of NRG’s common stock during the term of each ASR agreement, less a discount. The final settlement of the transactions is expected to occur in the first quarter of 2024.