Subsequent Events (CenterPoint Energy)

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events (CenterPoint Energy)

Subsequent Events (CenterPoint Energy)

CenterPoint Energy Dividend Declarations

Equity Instrument	Declaration Date	Record Date	Payment Date	Per Share
Common Stock	July 21, 2021	August 19, 2021	September 9, 2021	$	0.1600
Series A Preferred Stock	July 21, 2021	August 15, 2021	September 1, 2021	30.6250
Series B Preferred Stock	July 21, 2021	August 15, 2021	September 1, 2021	17.5000

Enable Distributions Declarations (CenterPoint Energy)

Equity Instrument	Declaration Date	Record Date	Payment Date	Per Unit Distribution		Expected Cash Distribution (in millions)
Enable common units	July 30, 2021	August 12, 2021	August 24, 2021	$	0.16525	$	39
Enable Series A Preferred Units	July 30, 2021	July 30, 2021	August 13, 2021	0.54390		8

Board of Directors Actions. On July 22, 2021, CenterPoint Energy announced the decision of the independent directors of the Board to implement a new independent Board leadership and governance structure, and named Martin H. Nesbitt, chair of the Governance Committee, as the new independent chair of the Board, effective immediately. To implement this new governance structure, the independent directors of the Board eliminated the Executive Chairman position, formerly held by Milton Carroll.

On the approval and recommendation of the Compensation Committee and approval of the Board (acting solely through its independent directors), CenterPoint Energy has entered into a separation agreement between CenterPoint Energy and Mr. Carroll, dated July 21, 2021. Under the terms of the separation agreement, Mr. Carroll was required to exit the position of Executive Chairman on July 21, 2021 and from his position as a Board member by September 30, 2021. Under the terms of the separation agreement, Mr. Carroll receives a lump sum cash payment of $28 million and his separation is treated as an “enhanced retirement” for purposes of his outstanding 2019, 2020 and 2021 equity award agreements.

On the approval and recommendation of the Compensation Committee and approval of the Board (acting solely through its independent directors), CenterPoint Energy has entered in a retention incentive agreement with David J. Lesar, President and Chief Executive Officer of CenterPoint Energy, dated July 20, 2021. Under the terms of the retention incentive agreement, Mr. Lesar will receive a total of 1 million shares of Common Stock to be awarded in multiple annual equity awards under CenterPoint Energy’s Long-term Incentive Plan.