Mon, Apr 28, 5:49 PM (17 days ago)
**Via Renewables, Inc. (VIASP) 10-K/A Summary** **Company Overview:** Via Renewables, Inc. (VIASP) filed this 10-K/A to amend its Annual Report, primarily to include information required in Part III. The company completed a merger with Retailco, LLC, and NuRetailco LLC on June 13, 2024, resulting in W. Keith Maxwell III indirectly owning all issued and outstanding shares of the Company's Class A and Class B common stock. The Class A common stock ceased trading on NASDAQ as a result. **Financial Performance:** The document does not provide specific financial figures for revenue, net income, or operating expenses. However, it mentions that the company has a Subordinated Debt Facility with a principal amount of up to $25.0 million, which had zero borrowings outstanding as of December 31, 2024. **Executive Compensation:** - **W. Keith Maxwell III (CEO):** Earned a base salary of $1 and received $25,998 in other compensation, totaling $25,999 for 2024. - **Mike Barajas (CFO):** Received a base salary of $250,000, a non-equity incentive of $250,000, and $27,431 in other compensation, totaling $527,431 for 2024. - **Paul Konikowski (COO):** Received a base salary of $350,000, a non-equity incentive of $350,000, and $24,584 in other compensation, totaling $724,584 for 2024. **Board and Governance:** The Board of Directors consists of four members, with terms staggered over three years. The company qualifies as a "controlled company" due to W. Keith Maxwell III's ownership, allowing it to opt out of certain NASDAQ corporate governance requirements. The Audit Committee is composed of three independent directors, all of whom are audit committee financial experts. **Risk Factors and Future Outlook:** The document highlights the company's status as a controlled company and the potential lack of protections afforded to shareholders due to the absence of a nominating and corporate governance committee or a compensation committee. The future outlook is not explicitly detailed, but the merger and changes in corporate governance may impact the company's strategic direction and market position. **Market Position Changes:** The merger with Retailco, LLC, and NuRetailco LLC significantly altered the company's ownership structure and market position. The Class A common stock ceased trading on NASDAQ, indicating a substantial change in the company's market presence. **Financial Condition:** The company's financial condition is not explicitly detailed in the provided text, but the Subordinated Debt Facility and the lack of borrowings as of December 31, 2024, suggest a stable financial position. The company's ability to pay dividends and cover estimated taxes is also noted. **Strategic Overview:** The merger and changes in corporate governance are strategic moves that may impact the company's future operations and market position. The company's focus on renewable energy and its strategic alliances with affiliates indicate a continued emphasis on growth and sustainability.