Duke Energy CORP (DUKB) SEC Filings

Duke Energy Corporation appointed Joyce Mullen to its board, effective September 28, 2026, for an initial term ending at the 2027 Annual Meeting of Shareholders. She will join the Audit Committee and the Operations and Nuclear Oversight Committee. The board determined she is independent under the company’s standards, New York Stock Exchange listing standards, and SEC rules.

Mullen retired as president and chief executive officer of Insight Enterprises in April 2026 and continues advising its leadership as executive vice president of strategic development. She previously held executive positions at Dell Technologies during a 21-year tenure and earlier leadership roles at Cummins Engine Company. As a non-employee director, she will receive a pro-rated payment of the cash and stock annual retainer. The outside-director ownership guideline calls for common stock or equivalents worth at least five times the annual Board cash retainer, stated as $700,000, or retention of 50% of her vested annual equity retainer.

Duke Energy Corporation completed an underwritten offering of 40,000,000 equity units, including 5,000,000 units sold under the underwriters’ over-allotment option, each with a stated amount of $50, for an aggregate offering size of $2,000,000,000.

Each equity unit initially consists of a stock purchase contract obligating the holder to buy common stock for $50 in cash no later than August 1, 2029, plus 1/40 interests in the company’s 4.85% Remarketable Senior Notes due 2032 and 2036. Total annual distributions on corporate units are 7.75% of stated amount, combining 2.90% contract adjustment payments and 4.85% RSN interest. Estimated net proceeds are about $1,719 million (or $1,965 million if the over-allotment option is fully exercised). Duke Energy intends to list the corporate units on the NYSE under the symbol “DUKU”.

Duke Energy Corporation is offering 35,000,000 Equity Units, each with a stated amount of $50, initially issued as Corporate Units composed of a stock purchase contract and undivided interests in two series of Remarketable Senior Notes due 2032 and 2036. The company may sell up to an additional 5,000,000 Equity Units to cover over-allotments. The Corporate Units are expected to be listed on the NYSE under the symbol “DUKU”, while the common stock trades under “DUK”.

Each purchase contract obligates holders to buy Duke Energy common stock on August 1, 2029 for $50, with the number of shares determined by a formula based on the 20‑day volume‑weighted average price before settlement, subject to anti‑dilution and fundamental change adjustments. Holders receive quarterly contract adjustment payments and interest on the RSNs; both RSN series are senior unsecured obligations, structurally subordinated to subsidiary liabilities. The RSNs may be remarketed, with proceeds funding Treasury portfolios that secure stock purchase obligations.

Net proceeds are expected to be used to redeem $500 million of 3.25% junior subordinated debentures due 2082, repay a portion of approximately $2.1 billion of commercial paper (weighted average rate 3.91%), and for general corporate purposes. Separately, subsidiary Duke Energy Progress filed a comprehensive North Carolina rate settlement featuring a 9.8% ROE, an approximately $17.8 billion retail rate base and about $3.4 billion of multi‑year capital, which remains subject to regulatory approval and is expected to trigger about $30 million of one‑time pre‑tax charges.

Duke Energy Corporation reported second-quarter 2026 earnings per share (EPS) of $1.38 on a GAAP basis and $1.43 on an adjusted basis, compared with $1.25 reported and adjusted EPS in the second quarter of 2025. The $0.05 difference between reported and adjusted EPS in 2026 reflects $39 million of regulatory settlement charges at the Electric Utilities and Infrastructure segment.

Electric Utilities and Infrastructure delivered second-quarter 2026 segment income of $1,271 million reported and $1,310 million adjusted, up from $1,194 million a year earlier, driven mainly by recovery of infrastructure investments, partially offset by higher depreciation and interest expense. Gas Utilities and Infrastructure segment income was $10 million versus $6 million in 2025, while Other posted a segment loss of $204 million versus a loss of $228 million.

Consolidated operating revenues for the quarter were $7,592 million compared with $7,508 million in 2025. Net income available to common stockholders was $1,077 million versus $971 million. The consolidated reported effective tax rate rose to 12.3% from 10.6%, primarily due to lower amortization of excess deferred taxes. For the first six months of 2026, net cash provided by operating activities was $4,272 million compared with $5,040 million in 2025. Management reaffirmed 2026 adjusted EPS guidance of $6.55–$6.80 and a long-term adjusted EPS growth rate of 5%–7% through 2030 off the 2025 midpoint of $6.30.

Duke Energy Carolinas, LLC filed a Comprehensive Revenue Requirement Settlement with North Carolina stakeholders in its 2025 rate case and Performance Based Regulation application. The agreement provides for a 9.8% return on equity with a 53% equity capital structure and a retail rate base of about $25.7 billion for the historic base case. It also includes roughly $3.8 billion of capital in a multi-year rate plan with an annual refund mechanism and lowers the combined revised revenue requirement increase to $496 million, with net annualized customer rate increases ranging up to 7.4% across the plan.

The settlement framework includes evaluating a delay of Duke Energy Carolinas’ next base rate case filing until no earlier than November 1, 2028, contingent on the North Carolina Utilities Commission granting deferral of costs for certain new generating assets. Intervening parties agreed to pursue good faith settlement discussions in the Duke Energy Progress rate case to seek a substantially similar framework. The stipulations are expected to result in one-time pre-tax accounting charges of about $40 million in 2026, treated as special items and excluded from adjusted earnings.

Kesner Idalene Fay reported acquisition or exercise transactions in this Form 4 filing.

Duke Energy director Idalene Fay Kesner reported a routine equity compensation transaction. On July 2, 2026, she received 266 Director Savings Plan Restricted Stock Unit deferrals, each tied to Duke Energy common stock on a 1-for-1 basis at a reference value of $129.60 per unit.

These units are generally payable upon her termination of service and are held directly. After this award and an adjustment to include previously omitted units, her aggregate Director Savings Plan restricted stock unit holdings total 15,191 units, all representing deferred rights to receive common shares rather than an open-market purchase.

Duke Energy EVP and Chief Customer Officer Alexander J. Weintraub reported routine plan-related movements in his Duke Energy interests. A discretionary transaction under Rule 16b-3(f) involved 394 shares of common stock held indirectly through a 401(k) plan at $123.81 per share, bringing his indirect 401(k) holdings to 3,011 shares.

He also reported a discretionary transaction in the Executive Savings Plan, showing 3,265 phantom stock units at $124.56 per unit, each economically equivalent to one share of Duke Energy common stock and generally settled six months after termination of service. Separately, he holds 12,187 shares of common stock directly, with no open-market purchases or sales indicated.

Duke Energy director and chair Theodore F. Craver Jr. reported a bona fide gift of 2,402 shares of Common Stock on May 18, 2026. The filing describes this as a transfer from directly held shares to a joint trust, so it does not reflect a market sale.

After the transfer, Craver reports 19,193 Duke Energy shares as directly owned, which now includes shares held through the joint trust. The transaction is a non-cash internal reallocation of ownership rather than a change in his overall economic exposure to the stock.