The AES Corporation

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AES SEC Filings - Aes Corp 10-K, 10-Q, 8-K Forms - Stock Titan

📄 Stock Titan hosts SEC filings for AES Corp (NYSE: AES), including annual 10-K reports, quarterly 10-Q earnings, current 8-K event forms, and insider trading disclosures.

⚡ As a Fortune 500 global energy utility, AES uses these filings to disclose financial conditions, business segments like Renewables and Utilities, and strategic priorities in infrastructure.

📊 Key documents highlight non-GAAP metrics such as Adjusted EBITDA, segment performance by strategic business units, and growth drivers from new renewables projects.

📅 Form 8-K filings include quarterly earnings releases, updated guidance, backlog updates on Power Purchase Agreements, and capital allocation decisions like dividend announcements.

🗣️ Investors can use AI summaries on the platform to understand complex non-GAAP metric definitions, tax attribute impacts, and disclosures regarding regulatory proceedings or legal matters.

👤 AES CEO Andres Gluski acquired shares totaling 144,079 via RSUs and 247,024 via PSUs vested on February 20, 2026, holding over 2 million shares directly plus indirect holdings.

🧾 Shares were withheld from the executive's award to cover tax obligations at a price of $16.51 per share for the RSU and PSU vesting transactions.

👤 Executive Da Santos Bernerd received stock grants valued at $0.00 and had 283,944 shares automatically withheld at $16.51 per share to cover taxes on vested PSUs and RSUs.

📈 Ameriprise Financial holds 34,959,555 AES shares representing a 4.9% beneficial ownership interest, with shared voting power but no intent to influence control of the company.

🏭 AES Corp plans to record a non-cash impairment charge between $250 million and $325 million for its Maritza power plant in Bulgaria due to limited future use and PPAs expiring May 2026.

⚠️ The impairment relates to property, plant and equipment where management decided not to convert the plant to an alternative fuel after the PPA expiration date in Q4 2025.

📉 EVP and President of Energy Infrastructure had 7,121 shares withheld at $13.77 per share on November 19, 2025, to cover taxes on vesting Restricted Stock Units.

Bullish Signals
  • AES Corporation maintains diversified strategic business units focused on Renewables, Utilities, and Energy Infrastructure, positioning it for continued growth through new project development.
  • Management utilizes non-GAAP measures such as Adjusted EBITDA and Adjusted EPS to provide clarity on operational performance, with Form 10-K annual reports detailing these key financial metrics.
  • Company filings highlight significant backlog of signed long-term Power Purchase Agreements, which provides revenue visibility and stable cash flow prospects.
  • AES is a Fortune 500 global energy company with a diverse asset base that includes renewables, utilities, and energy infrastructure across international markets.
  • Strategic Business Units include a Renewables portfolio that drives future growth as new green energy projects come online.
  • Ameriprise Financial beneficially holds nearly 35 million shares, representing 4.9% of AES, indicating strong institutional ownership in the company.
  • Management's equity transactions on February 20, 2026, resulted in Andres Gluski and Da Santos Bernerd holding significant share positions, with direct holdings totaling over 2 million shares for CEO Gluski.
  • AES continues to provide shareholder returns through a capital allocation strategy that includes dividends and other financial distributions detailed in material events.
Risk Factors
  • The company plans to record a significant non-cash impairment charge between $250 million and $325 million for its Maritza power plant in Bulgaria.
  • AES determined the Maritza plant's carrying value is not recoverable after deciding not to convert it to an alternative fuel and with its current Power Purchase Agreement expiring in May 2026.
  • Management shortened the assets' useful life for the Maritza facility, indicating a potential downgrade in long-term utility and profitability projections.
  • AES Corp executive Andres Gluski had shares automatically withheld from his holdings to cover tax obligations, with 123,760 and 32,896 shares withheld on February 20, 2026.
  • Ameriprise Financial holds a 4.9% stake representing 34,959,555 shares of AES common stock, though the filing indicates no intent to change or influence control.
Full Analysis
The Securities and Exchange Commission filings page for The AES Corporation (NYSE: AES) serves as a central resource for investors and traders to access official regulatory documents, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and insider trading forms. These filings detail the performance of AES's strategic business units across Renewables, Utilities, and Energy Infrastructure, alongside non-GAAP metrics such as Adjusted EBITDA and Adjusted EPS. Current reports, exemplified by an August 4, 2025 filing for quarterly results, provide updates on growth drivers like new renewables projects and rate base changes at U.S. utilities, while also outlining risks and governance matters in proxy materials. In recent insider activity, AES Corp President and CEO Andres Gluski reported multiple equity transactions on February 20, 2026. He acquired 144,079 shares through a Restricted Stock Unit award vesting in annual installments beginning February 20, 2027, and received an additional 247,024 shares from Performance Stock Units granted in 2023 after their performance period concluded. Following tax obligations on vesting, where 123,760 shares and 32,896 shares were withheld at $16.51 per share, Gluski held a total of 2,092,274 AES shares directly, with an additional indirect holding through a 401(k) plan. Executive Da Santos Bernerd also filed Form 4 disclosures on the same date, receiving two stock grants at $0.00 per share and undergoing tax withholdings covering previously granted restricted and performance units to maintain beneficial ownership of over four hundred thousand shares directly plus indirect holdings. Institutional ownership updates include an amended Schedule 13G from Ameriprise Financial, Inc., which reported beneficial ownership of 34,959,555 shares, representing 4.9% of AES's common stock class as of the reporting date. The filing indicates that Ameriprise holds shared voting power over 25,460,323 shares and shared dispositive power over 34,959,555 shares, asserting that the securities were acquired in the ordinary course of business without an intention to change or influence control of AES. Additionally, other executive filings reflect ongoing tax-related share withholding for restricted stock unit settlements, such as one reported on November 19, 2025, where 7,121 shares were withheld from EVP and President, Energy Infrastructure at $13.77 per share to cover taxes on the vesting of units originally granted in 2021. A significant financial event impacting AES is a planned impairment related to its Maritza power plant in Bulgaria. After deciding in the fourth quarter of 2025 not to convert the plant to an alternative fuel and with its current Power Purchase Agreement expiring in May 2026, management determined the carrying value is not recoverable. Consequently, on January 13, 2026, AES concluded that a pre-tax impairment charge between $250 million and $325 million must be recognized as of December 31, 2025, under U.S. GAAP for property, plant and equipment. This decision was driven by the limitation on future use after the current PPA ends, though AES states this does not affect the plant's ability to meet obligations or its cash flows through the end of May 2026, with the final amount and tax effects to be finalized in the Form 10-K for the year ending December 31, 2025.