Here are the 10-K annual reports from Via Renewables, Inc. 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (VIASP) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow VIASP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VIASP filings page.
Via Renewables, Inc. filed an amended annual report to add detailed Part III information on directors, executive compensation, ownership and related-party transactions for 2025. The company is a NASDAQ “controlled company” because W. Keith Maxwell III indirectly owns all Class A and Class B common stock.
Its four-person board has three independent directors and a single standing Audit Committee, which includes three “audit committee financial experts.” As CEO, Maxwell receives a symbolic $1 base salary, total 2025 compensation of $26,718, and a very low CEO pay ratio of 0.3:1 versus median employee pay of $78,974.
For 2025, CFO Miguel “Mike” Barajas earned total compensation of $527,705, and COO Paul Konikowski earned $941,177, including sizeable annual cash bonuses. The filing also outlines change-in-control and severance terms for Barajas and Konikowski, an SEC- and NASDAQ-compliant clawback policy, and the structure of significant related-party arrangements with Spark HoldCo, Retailco and other affiliates.
Via Renewables, Inc. is an independent retail energy provider that supplies electricity and natural gas to residential and commercial customers across 106 utility territories in 21 states and Washington, D.C. As of December 31, 2025 it served about 421,000 residential customer equivalents.
The company operates through retail electricity and retail natural gas segments, selling fixed- and variable-price plans, including green products backed by renewable energy credits and carbon offsets. Growth comes from both organic sales and multiple customer-portfolio acquisitions completed between 2021 and 2025.
In June 2024 Via completed a merger that left founder and CEO W. Keith Maxwell III and his affiliates owning all Class A and Class B common stock; the common stock stopped trading on NASDAQ, while Series A Preferred Stock remains listed. The report highlights extensive risks, including volatile commodity prices and weather, stricter state regulation such as Maryland SB1, decarbonization policies, customer credit risk, TCPA-related telemarketing exposure, cyber and data-privacy threats, and dependence on regulatory licenses and credit facilities.