FLNC.NASDAQFluence Energy, INC

10-K/A: Fluence Energy Files Amendment to 10-K to Include iXBRL Data Tagging

Sentiment:

10-K/A Filing

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Fluence Energy files an amendment to its annual report to include Inline eXtensible Business Reporting Language (iXBRL) data tagging and updated certifications.

Summary

  • Fluence Energy, Inc. is filing Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended September 30, 2024.
  • The amendment is for the sole purpose of including Inline eXtensible Business Reporting Language (iXBRL) data tagging of the disclosure required by Item 402(x)(1) of Regulation S-K.
  • This iXBRL data tagging was inadvertently omitted from the Company's Definitive Proxy Statement on Schedule 14A filed with the SEC on January 24, 2025.
  • Item 15 of Part IV has been amended to include new certifications by the principal executive officer and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  • The company had 129,621,279 shares of Class A common stock outstanding and 51,499,195 shares of Class B-1 common stock outstanding as of November 20, 2024.
  • The aggregate market value of voting and non-voting common stock held by non-affiliates was $1.06 billion as of March 31, 2024.
  • The Board meets in the first few weeks of December, during the open trading window following the filing of our Form 10-K for the prior fiscal year.
  • The company plans to grant annual long-term incentive compensation awards to its executives and employees, including stock options, restricted stock unit awards, and performance stock unit awards during the first fiscal quarter of the year.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating compliance and adherence to reporting standards. The sentiment is neutral to slightly positive due to the absence of negative indicators.

Positives

  • The company is adhering to regulatory requirements by filing the amendment to include iXBRL data tagging.
  • The company's practices related to the grant of certain equity awards close in time to the release of material nonpublic information.

Future Outlook

The company plans to grant annual long-term incentive compensation awards to its executives and employees, including stock options, restricted stock unit awards, and performance stock unit awards during the first fiscal quarter of the year.

Industry Context

The filing of iXBRL data is a standard practice for public companies to comply with SEC regulations, ensuring transparency and comparability of financial data.

Stakeholder Impact

  • Shareholders are provided with more detailed and standardized financial information through iXBRL tagging.
  • The filing ensures compliance with regulatory requirements, which is important for maintaining investor confidence.

Key Dates

DateDescription
October 27, 2021Third Amended and Restated LLC Agreement of Fluence Energy, LLC, dated as of October 27, 2021
November 1, 2021Tax Receivable Agreement, dated as of November 1, 2021, by and among Fluence Energy, Inc. and the TRA Parties
November 1, 2021Registration Rights Agreement, dated November 1, 2021, by and among Fluence Energy, Inc. and the Original Equity Owners
October 27, 2021Stockholders Agreement, dated October 27, 2021, by and among Fluence Energy, Inc., Fluence Energy, LLC and the Stockholders
July 7, 2022Siemens AG Joinder, dated July 7, 2022, to the Registration Rights Agreement, dated November 1, 2021, by and among Fluence Energy, Inc. and the other parties named therein
July 7, 2022Siemens AG Joinder, dated July 7, 2022, to the Stockholders Agreement, dated October 27, 2021, by and among Fluence Energy, Inc. and the other parties named therein
August 5, 2022Offer Letter, dated August 5, 2022, between Fluence Energy, Inc. and Julian Nebreda
August 26, 2022Offer Letter, dated August 26, 2022, between Fluence Energy, Inc. and Manavendra Sial
August 8, 2022Offer Letter, dated August 8, 2022, between Fluence Energy, Inc. and Krishna Vanka
September 29, 2022Siemens Pension-Trust e.V. Joinder, dated September 29, 2022, to the Registration Rights Agreement, dated November 1, 2021, by and among Fluence Energy, Inc. and the other parties named therein
September 29, 2022Siemens Pension-Trust E.V. Joinder, dated September 29, 2022, to the Stockholders Agreement, dated October 27, 2021, by and among Fluence Energy, Inc. and the other parties named therein
November 22, 2023Syndicated Facility Agreement, dated as of November 22, 2023, among Fluence Energy, LLC as the Parent Borrower, the other borrowers party thereto, Fluence Energy, Inc., as the Parent, the other guarantors party thereto, the lenders party thereto, and Barclays Bank PLC, as Administrative Agent.
December 15, 2023Master Assignment and Assumption and Issuing Bank Joinder dated as of December 15, 2023 to the Syndicated Facility Agreement, dated as of November 22, 2023, among Fluence Energy, LLC as the Parent Borrower, the other borrowers party thereto, Fluence Energy, Inc., as the Parent, the other guarantors party thereto, the lenders party thereto, and Barclays Bank PLC, as Administrative Agent.
December 19, 2023SPT Invest Management, Sarl Joinder, dated December 19, 2023, to the Registration Rights Agreement, dated November 1, 2021, by and among Fluence Energy, Inc. and the other parties named therein
December 19, 2023SPT Invest Management, Sarl Joinder, dated December 19, 2023, to the Stockholders Agreement, dated October 27, 2021, by and among Fluence Energy, Inc. and the other parties named therein
January 19, 2024Transition Services Agreement, executed January 19, 2024, by and between Fluence Energy, LLC and Krishna Vanka
February 27, 2024Master Receivables Purchase Agreement by and among Fluence Energy, LLC and any other seller from time to time party thereto, as sellers and servicers, and Credit Agricole Corporate and Investment Bank, dated February 27, 2024.
March 31, 2024The aggregate market value of voting and non-voting common stock held by non-affiliates of the registrant, based upon the closing sale price of a share of the registrants Class A common stock on March 31, 2024, the last business day of the registrants most recently completed second fiscal quarter, as reported on the NASDAQ stock market, was $1.06 billion.
April 8, 2024Amendment No. 1, dated April 8, 2024, to the Syndicated Facility Agreement, dated as of November 22, 2023, among Fluence Energy, LLC as the Parent Borrower, the other borrowers party thereto, Fluence Energy, Inc., as the Parent, the other guarantors party thereto, the lenders party thereto, and Barclays Bank PLC, as Administrative Agent.
May 8, 2024Amendment No. 2, dated May 8, 2024, to the Syndicated Facility Agreement, dated as of November 22, 2023, among Fluence Energy, LLC as the Parent Borrower, the other borrowers party thereto, Fluence Energy, Inc., as the Parent, the other guarantors party thereto, the lenders party thereto, and Barclays Bank PLC, as Administrative Agent.
June 11, 2024Certificate of Retirement of 65,674,195 shares of Class B-1 Common Stock Fluence Energy, Inc.
August 6, 2024Amendment Number Three to Syndicated Facility Agreement, dated as of August 6, 2024, by and among Fluence Energy, Inc., Fluence Energy, LLC, Fluence Energy Global Production Operation, LLC, the other guarantors party thereto, the parties thereto identified as Exiting Lenders, the parties thereto identified as Existing Lenders, the parties thereto identified as New Lenders, Barclays Bank PLC, in its capacity as resigning administrative agent, and Citibank, N.A., in its capacity as successor administrative agent.
September 30, 2024Fiscal year ended September 30, 2024
October 1, 2024Revised Non-Employee Independent Director Compensation Policy (effective October 1, 2024)
November 20, 2024As of November 20, 2024, the registrant had 129,621,279 shares of Class A common stock outstanding and 51,499,195 shares of Class B-1 common stock outstanding.
November 29, 2024Original Form 10-K filed with the Securities and Exchange Commission (the SEC) on November 29, 2024
January 24, 2025Definitive Proxy Statement on Schedule 14A (the Proxy Statement) filed with the SEC on January 24, 2025
April 17, 2025Date of signatures for the Amendment No. 1 to the Annual Report on Form 10-K of Fluence Energy, Inc.

Keywords

iXBRL, Form 10-K, Amendment, Data Tagging, Regulation S-K, Executive Compensation, Equity Awards, Fluence Energy

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