OGE Energy elects board of directors at annual meeting

Rhea-AI Summary

OGE Energy Corp. (NYSE: OGE) held its 2025 Annual Meeting of Shareholders virtually, where shareholders elected 10 members to the board of directors for one-year terms. CEO Sean Trauschke highlighted the company's strong 2024 performance, emphasizing improved reliability and economic growth in their service areas. The company maintains its focus on providing reliable electricity at competitive rates.

Shareholders approved the appointment of Ernst & Young LLP as independent accountants and endorsed executive compensation. However, they did not approve the amendment to eliminate supermajority voting provisions. The board declared a quarterly dividend of $0.42125 per share, payable July 25, 2025, to shareholders of record July 7, 2025, maintaining the previous quarter's level.

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OKLAHOMA CITY, May 15, 2025 /PRNewswire/ -- OGE Energy Corp. (NYSE: OGE) virtually held its 2025 Annual Meeting of Shareholders today, electing its board of directors and acting on a number of items.

Chairman, President and CEO Sean Trauschke began the meeting by thanking the company's employees for their strong execution and their continued focus on customers.

"2024 delivered outstanding results for all stakeholders, including improved reliability for customers and continued economic prosperity in the growing communities we serve," Trauschke said. "Our dedicated team will continue our legacy of operational excellence and customer focus as we expect to continue our performance trajectory into 2025 and beyond."

Trauschke discussed the company's commitment to pursue safe, reliable, resilient electricity at some of the lowest rates in the nation. He reflected on the healthy growth in our communities leveraged by low rates and economic development.

In voting announced at the meeting, OGE Energy shareholders:

• Elected 10 members of the company's board of directors to one-year terms. They are:
• • Judy R. McReynolds, lead director, chairman and chief executive officer of ArcBest Corporation.
  • Frank A. Bozich, president and chief executive officer at Trinseo PLC
  • Peter D. Clarke, former of-counsel and partner of Jones Day, a law firm
  • Cathy R. Gates, former assurance partner of Ernst & Young LLP
  • David L. Hauser, former chairman and chief executive officer of FairPoint Communications Inc.
  • Luther C. Kissam, IV, senior advisor with Bernhard Capital Partners
  • David E. Rainbolt, executive chairman of BancFirst Corporation
  • J. Michael Sanner, former audit partner of Ernst & Young LLP
  • Sheila G. Talton, president and chief executive officer of Gray Matter Analytics
  • Sean Trauschke, current chairman, president and chief executive officer of OGE Energy Corp. and OG&E

• Ratified the appointment of Ernst & Young LLP as the company's principal independent accountants for 2025;
• Approved, on an advisory basis, the compensation paid to named executive officers;
• Did not approve an amendment of the Restated Certificate of Incorporation to eliminate supermajority voting provisions, as it received less than 80% of the outstanding shares of the Company's common stock required for passage.

Quarterly Dividend Declared
The OGE Energy board of directors also declared a third quarter dividend of $0.42125 per common share of stock, to be paid July 25, 2025, to shareholders of record July 7, 2025. The dividend was unchanged from the previous quarter.

OGE Energy Corp. is the parent company of OG&E, a regulated electric company with approximately 909,000 customers in Oklahoma and western Arkansas.

This news release may contain "forward-looking" statements. Forward-looking statements are intended to be identified by words such as "anticipate," "believe," "intend," "plan," "expect," "continued," "goal," "may" or similar expressions.  Factors that could affect actual results are listed in the reports filed by the Company with the Securities and Exchange Commission including those listed in Risk Factors in the Company's Form 10-K for the year ended December 31, 2024.

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SOURCE OGE Energy Corp.

FAQ

Who are the newly elected board members of OGE Energy (NYSE: OGE) for 2025?

The 10 elected board members include Judy R. McReynolds (lead director), Frank A. Bozich, Peter D. Clarke, Cathy R. Gates, David L. Hauser, Luther C. Kissam IV, David E. Rainbolt, J. Michael Sanner, Sheila G. Talton, and Sean Trauschke.

What is OGE Energy's dividend payment for Q3 2025?

OGE Energy declared a quarterly dividend of $0.42125 per share, payable July 25, 2025, to shareholders of record July 7, 2025. This dividend remained unchanged from the previous quarter.

What key proposals were voted on at OGE Energy's 2025 annual meeting?

Shareholders voted on board member elections, ratified Ernst & Young LLP as independent accountants, approved executive compensation, and voted on an amendment to eliminate supermajority voting provisions (which did not pass).

How many customers does OGE Energy serve through OG&E?

OG&E, OGE Energy's regulated electric company, serves approximately 909,000 customers in Oklahoma and western Arkansas.