PG&E Fire Victim Trust announces sale of 60M shares

The PG&E Fire Victim Trust announced the sale of 60M shares of PG&E stock. The trust was created in July 2020 and funded with both cash and shares of stock pursuant to PG&E’s Chapter 11 plan of reorganization. At that time, 476,995,175 shares of common stock were transferred to the Trust. This was followed on August 3, 2020, with an additional 748,415 shares. The Trust now holds 67,743,590 shares of PG&E stock following this most recent sale. As of July 14, 2023, the Trust had issued determination notices to 97% of all claimants and paid claimants over $9.93B. Less than 1% of all claims have been appealed, it noted.