Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) OnJanuary 23, 2023 ,Eric Silagy , Chairman, President, and Chief Executive Officer ofFlorida Power & Light Company (FPL) and a named executive officer ofNextEra Energy, Inc. (NEE), notified FPL and NEE of his intention to retire, effectiveMay 15, 2023 , withMr. Silagy transitioning to the position of Vice President-Transition of FPL effectiveFebruary 15, 2023 .
(e) The information set forth under Item 5.02(b) of this report is incorporated by reference in this Item 5.02(e).
Mr. Silagy and NEE have entered into a confirmation of post-retirement covenants agreement, dated as ofJanuary 23, 2023 (the Agreement), regardingMr. Silagy's retirement from FPL and NEE. The Agreement provides thatMr. Silagy will retire effectiveMay 15, 2023 , withMr. Silagy transitioning from his current roles as Chairman, President and Chief Executive Officer of FPL to the position of Vice President-Transition of FPL effectiveFebruary 15, 2023 . The Compensation Committee of the Board of Directors of NEE exercised its discretion to make the determination that it is in the best interests of the Company to enter into the Agreement. Pursuant to the Agreement, subject toMr. Silagy's execution of a release of claims in favor of NEE,Mr. Silagy will receive an annual incentive award payout for 2022 calculated in accordance with NEE's annual incentive plan and, consistent with the terms ofMr. Silagy's equity awards upon a normal retirement at least at age 55 with at least 10 years of service (whichMr. Silagy has met), a pro rata portion ofMr. Silagy's outstanding performance share, restricted share and stock option awards will continue to remain outstanding and vest after his retirement in accordance with their terms, subject to the achievement of NEE's performance objectives, if applicable.Mr. Silagy is subject to two-year post-employment restrictive covenants, including non-competition and non-solicitation covenants, and to a customary non-disparagement covenant. The payments and benefits under the Agreement are subject to forfeiture and recoupment in certain circumstances, including ifMr. Silagy violates the post-employment restrictive covenants or upon the occurrence of specified events, as defined in the Agreement. The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as exhibit 10 to this Current Report on Form 8-K and incorporated in this Item 5.02(e) by reference. Item 8.01 Other Events
The information set forth under Item 5.02(b) of this report is incorporated by reference in this Item 8.01.
OnJanuary 23, 2023 , FPL appointedJohn W. Ketchum , Chairman, President, and Chief Executive Officer of NEE, as Chairman of FPL andArmando Pimentel , Jr. as President and Chief Executive Officer of FPL, effectiveFebruary 15, 2023 .Mr. Pimentel , 60, previously served fromOctober 2011 toMarch 2019 as President and Chief Executive Officer ofNextEra Energy Resources, LLC , a subsidiary of NEE. He also served as Executive Vice President, Finance and Chief Financial Officer of NEE and FPL fromMay 2008 toOctober 2011 .Mr. Pimentel served as President, and a member of the Board of Directors, of NextEra Energy Partners, L.P., an affiliate of NEE, fromJune 2014 toMarch 2019 . Prior to joining NEE,Mr. Pimentel was a partner ofDeloitte & Touche , an independent registered public accounting firm, and an accounting fellow in theOffice of the Chief Accountant of the Securities and Exchange Commission .Mr. Pimentel has served as a member of the Board of Directors of Ameriprise Financial, Inc., a diversified financial services company and bank holding company, sinceSeptember 2022 .Mr. Pimentel earned a BS degree in accounting fromFlorida State University . 2 --------------------------------------------------------------------------------
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. Exhibit NextEra Florida Power & Number Description Energy, Inc. Light Company 10 Confirmation of Post-Retirement Covenants Agreement and Release, dated as of January 23, 2023, between Eric E. Silagy x x and NextEra Energy, Inc. 101 Interactive data files for this Form 8-K formatted in Inline x x XBRL 104 Cover Page Interactive Data File (formatted as Inline XBRL x x and contained in Exhibit 101) 3
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