PCG on NYSE
PG&E Corporation
Parent and holding company of Pacific Gas and Electric Company founded in 19951
In its 2026 annual report the company says: “PG&E Corporation, incorporated in California in 1995, is a holding company whose primary operating subsidiary is Pacific Gas and Electric Company, a public utility operating in Northern and Central California.”6 It is headquartered in San Francisco.1 Its shares trade on NYSE under the symbol PCG.1
$13.21 up 0.03 (0.19%)Price as of Oct 21, 2026 at 18:59 UTC
Last updated Oct 21, 2026.
Overview
1995Founded1
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- TickerPCG on NYSE1
- IndustryElectric & Other Services Combined1
- HeadquartersSan Francisco1
- Incorporated inCA5
- Business address300 Lakeside Drive, Oakland, Ca 946125
- Filer categoryLarge accelerated filer5
- Legal formFor-Profit Corporation General Stock3
- LEI8YQ2GSDWYZXO2EDN35113
- StatusActive3
- LEI statusIssued and current3
- Registered addressC/O CSC - LAWYERS INCORPORATING SERVICE, 95833 Sacramento, United States3
- Registered withSecretary of State, 19535803
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PG&E Corporation, incorporated in California in 1995, is a holding company whose primary operating subsidiary is Pacific Gas and Electric Company, a public utility operating in Northern and Central California. The Utility was incorporated in California in 1905. PG&E Corporation became the holding company of the Utility and its subsidiaries in 1997. The Utility generates revenues mainly through the sale and delivery of electricity and natural gas to customers. The Utility’s service area is shown in the graphic below.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
19.0%Operating margin7
10.8%Net margin7
2.1%Revenue growth, 20257
8.3%Return on equity7
1.76×Debt to equity7
-$3.1BFree cash flow7
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Electricity brought in 73% of the revenue PG&E Corporation broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Electricity | $17.4B | $17.8B | $18.3B |
| Natural Gas, US Regulated | $7.0B | $6.6B | $6.6B |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs88¢$22.0B
- Income tax1¢$280.0M
- Profit11¢$2.7B
Out of $24.9B in revenue.7
Where each dollar of operating cash went, fiscal 2025
- Capital spending100¢$11.8B
Out of $8.7B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total operating revenues | $24.9B | $24.4B | $24.4B |
| Operating and maintenance | $11.3B | $11.8B | $11.9B |
| SB 901 securitization charges, net | $35.0M | $33.0M | $1.3B |
| Wildfire-related claims, net of recoveries | $100.0M | $94.0M | $64.0M |
| Wildfire Fund expense | $352.0M | $383.0M | $567.0M |
| Depreciation, amortization, and decommissioning | $4.6B | $4.2B | $3.7B |
| Total operating expenses | $20.2B | $20.0B | $21.8B |
| Operating Income | $4.7B | $4.5B | $2.7B |
| Interest income | $520.0M | $604.0M | $606.0M |
| Interest expense | -$3.0B | -$3.1B | -$2.9B |
| Other income, net | $182.0M | $300.0M | $272.0M |
| Income Before Income Taxes | $2.4B | $2.3B | $699.0M |
| Income tax benefit | -$280.0M | -$200.0M | -$1.6B |
| Net Income | $2.7B | $2.5B | $2.3B |
| Preferred stock dividend requirement | $110.0M | $37.0M | $14.0M |
| Income Available for Common Shareholders | $2.6B | $2.5B | $2.2B |
| Income Available for Common Shareholders | $2.6B | $2.5B | $2.2B |
| Weighted Average Common Shares Outstanding, Basic (in shares) | 2.2B shares | 2.1B shares | 2.1B shares |
| Weighted Average Common Shares Outstanding, Diluted | 2.2B shares | 2.1B shares | 2.1B shares |
| Net Income Per Common Share, Basic (in dollars per share) | $1.18 | $1.16 | $1.09 |
| Net Income Per Common Share, Diluted (in dollars per share) | $1.18 | $1.15 | $1.05 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $713.0M | $940.0M | $635.0M | |
| Regulatory balancing accounts | $6.3B | $7.2B | ||
| Other (net of allowance for doubtful accounts of $69 million and $35 million at respective dates) | $1.7B | $1.8B | ||
| Regulatory assets | $305.0M | $234.0M | ||
| Gas stored underground and fuel oil | $75.0M | $52.0M | ||
| Materials and supplies | $745.0M | $768.0M | ||
| Wildfire Fund asset | $297.0M | $301.0M | ||
| Wildfire self-insurance asset | $1.0B | $905.0M | ||
| Other | $644.0M | $999.0M | ||
| Total current assets | $15.8B | $17.2B | ||
| Property, Plant, and Equipment | $129.0B | $118.3B | ||
| Construction work in progress | $4.6B | $4.5B | ||
| Financing lease ROU asset and other | $2.0M | $814.0M | ||
| Total property, plant, and equipment | $133.6B | $123.5B | ||
| Accumulated depreciation | -$37.3B | -$35.3B | ||
| Net property, plant, and equipment | $96.3B | $88.2B | ||
| Regulatory assets | $16.0B | $15.6B | ||
| Customer credit trust | $804.0M | $377.0M | ||
| Nuclear decommissioning trusts | $4.2B | $3.8B | ||
| Operating lease ROU asset | $450.0M | $524.0M | ||
| Wildfire Fund asset | $3.7B | $4.1B | ||
| Other (includes noncurrent accounts receivable of $67 million and $82 related to VIEs, net of noncurrent allowance for doubtful accounts of $15 million and $18 at respective dates) | $4.2B | $3.9B | ||
| Total other noncurrent assets | $29.4B | $28.2B | ||
| TOTAL ASSETS | $141.6B | $133.7B | ||
| Short-term borrowings | $2.7B | $1.5B | ||
| Long-term debt, classified as current (includes $221 million and $222 million related to VIEs at respective dates) | $821.0M | $2.1B | ||
| Trade creditors | $3.4B | $2.7B | ||
| Regulatory balancing accounts | $3.1B | $3.2B | ||
| Other | $929.0M | $748.0M | ||
| Operating lease liabilities | $90.0M | $85.0M | ||
| Financing lease liabilities | $0 | $577.0M | ||
| Wildfire-related claims | $524.0M | $916.0M | ||
| Other | $4.0B | $3.7B | ||
| Total current liabilities | $16.3B | $16.3B | ||
| Regulatory liabilities | $20.2B | $19.4B | ||
| Pension and other postretirement benefits | $549.0M | $808.0M | ||
| Asset retirement obligations | $5.4B | $5.4B | ||
| Deferred income taxes | $4.1B | $3.1B | ||
| Operating lease liabilities | $360.0M | $439.0M | ||
| Financing lease liabilities | $2.0M | $4.0M | ||
| Other | $4.5B | $4.2B | ||
| Total noncurrent liabilities | $92.5B | $86.9B | ||
| Mandatory convertible preferred stock | $1.6B | $1.6B | ||
| Common stock, no par value, authorized 3,600,000,000 and 3,600,000,000 shares at respective dates; 2,197,942,874 and 2,193,573,536 shares outstanding at respective dates | $31.6B | $31.6B | ||
| Reinvested earnings | -$650.0M | -$3.0B | ||
| Accumulated other comprehensive loss | -$25.0M | -$19.0M | ||
| Total shareholders equity | $32.5B | $30.1B | ||
| Noncontrolling Interest - Preferred Stock of Subsidiary | $252.0M | $252.0M | ||
| Total equity | $32.8B | $30.4B | $25.3B | $23.1B |
| TOTAL LIABILITIES AND EQUITY | $141.6B | $133.7B | ||
| Restricted cash and cash equivalents | $259.0M | $273.0M | $297.0M | |
| Allowance for doubtful accounts | $408.0M | $418.0M | ||
| Accounts receivable, after allowance for credit loss, current | $2.3B | $2.2B | ||
| Accrued unbilled revenue | $1.5B | $1.5B | ||
| Other (net of allowance for doubtful accounts) | $69.0M | $35.0M | ||
| Interest payable | $764.0M | $760.0M | ||
| Long-term debt | $57.4B | $53.6B | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 3.6B shares | 3.6B shares | ||
| Common stock, shares outstanding (in shares) | 2.2B shares | 2.2B shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $713.0M | $940.0M | $635.0M | |
| Regulatory balancing accounts | $6.3B | $7.2B | ||
| Other (net of allowance for doubtful accounts of $69 million and $35 million at respective dates) | $1.7B | $1.8B | ||
| Regulatory assets | $305.0M | $234.0M | ||
| Gas stored underground and fuel oil | $75.0M | $52.0M | ||
| Materials and supplies | $745.0M | $768.0M | ||
| Wildfire Fund asset | $297.0M | $301.0M | ||
| Wildfire self-insurance asset | $1.0B | $905.0M | ||
| Other | $644.0M | $999.0M | ||
| Total current assets | $15.8B | $17.2B | ||
| Property, Plant, and Equipment | $129.0B | $118.3B | ||
| Construction work in progress | $4.6B | $4.5B | ||
| Financing lease ROU asset and other | $2.0M | $814.0M | ||
| Total property, plant, and equipment | $133.6B | $123.5B | ||
| Accumulated depreciation | -$37.3B | -$35.3B | ||
| Net property, plant, and equipment | $96.3B | $88.2B | ||
| Regulatory assets | $16.0B | $15.6B | ||
| Customer credit trust | $804.0M | $377.0M | ||
| Nuclear decommissioning trusts | $4.2B | $3.8B | ||
| Operating lease ROU asset | $450.0M | $524.0M | ||
| Wildfire Fund asset | $3.7B | $4.1B | ||
| Other (includes noncurrent accounts receivable of $67 million and $82 related to VIEs, net of noncurrent allowance for doubtful accounts of $15 million and $18 at respective dates) | $4.2B | $3.9B | ||
| Total other noncurrent assets | $29.4B | $28.2B | ||
| TOTAL ASSETS | $141.6B | $133.7B | ||
| Short-term borrowings | $2.7B | $1.5B | ||
| Long-term debt, classified as current (includes $221 million and $222 million related to VIEs at respective dates) | $821.0M | $2.1B | ||
| Trade creditors | $3.4B | $2.7B | ||
| Regulatory balancing accounts | $3.1B | $3.2B | ||
| Other | $929.0M | $748.0M | ||
| Operating lease liabilities | $90.0M | $85.0M | ||
| Financing lease liabilities | $0 | $577.0M | ||
| Wildfire-related claims | $524.0M | $916.0M | ||
| Other | $4.0B | $3.7B | ||
| Total current liabilities | $16.3B | $16.3B | ||
| Regulatory liabilities | $20.2B | $19.4B | ||
| Pension and other postretirement benefits | $549.0M | $808.0M | ||
| Asset retirement obligations | $5.4B | $5.4B | ||
| Deferred income taxes | $4.1B | $3.1B | ||
| Operating lease liabilities | $360.0M | $439.0M | ||
| Financing lease liabilities | $2.0M | $4.0M | ||
| Other | $4.5B | $4.2B | ||
| Total noncurrent liabilities | $92.5B | $86.9B | ||
| Mandatory convertible preferred stock | $1.6B | $1.6B | ||
| Common stock, no par value, authorized 3,600,000,000 and 3,600,000,000 shares at respective dates; 2,197,942,874 and 2,193,573,536 shares outstanding at respective dates | $31.6B | $31.6B | ||
| Reinvested earnings | -$650.0M | -$3.0B | ||
| Accumulated other comprehensive loss | -$25.0M | -$19.0M | ||
| Total shareholders equity | $32.5B | $30.1B | ||
| Noncontrolling Interest - Preferred Stock of Subsidiary | $252.0M | $252.0M | ||
| Total equity | $32.8B | $30.4B | $25.3B | $23.1B |
| TOTAL LIABILITIES AND EQUITY | $141.6B | $133.7B | ||
| Restricted cash and cash equivalents | $259.0M | $273.0M | $297.0M | |
| Allowance for doubtful accounts | $408.0M | $418.0M | ||
| Accounts receivable, after allowance for credit loss, current | $2.3B | $2.2B | ||
| Accrued unbilled revenue | $1.5B | $1.5B | ||
| Other (net of allowance for doubtful accounts) | $69.0M | $35.0M | ||
| Interest payable | $764.0M | $760.0M | ||
| Long-term debt | $57.4B | $53.6B | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 3.6B shares | 3.6B shares | ||
| Common stock, shares outstanding (in shares) | 2.2B shares | 2.2B shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $2.7B | $2.5B | $2.3B |
| Depreciation, amortization, and decommissioning | $4.6B | $4.2B | $3.7B |
| Bad debt expense | $402.0M | $341.0M | $636.0M |
| Allowance for equity funds used during construction | -$219.0M | -$184.0M | -$179.0M |
| Deferred income taxes and tax credits, net | $1.1B | $1.1B | -$765.0M |
| Wildfire Fund expense | $352.0M | $383.0M | $568.0M |
| Other | -$75.0M | $310.0M | -$116.0M |
| Accounts receivable | -$61.0M | -$1.1B | -$369.0M |
| Wildfire-related insurance receivable | -$167.0M | $318.0M | $358.0M |
| Inventories | $0 | $45.0M | -$28.0M |
| Accounts payable | $176.0M | $30.0M | -$90.0M |
| Wildfire-related claims | -$392.0M | -$506.0M | -$489.0M |
| Other current assets and liabilities | $563.0M | -$231.0M | $397.0M |
| Regulatory assets, liabilities, and balancing accounts, net | $173.0M | $1.5B | -$429.0M |
| Contributions to Wildfire Fund | -$193.0M | -$193.0M | -$193.0M |
| Other noncurrent assets and liabilities | -$238.0M | -$561.0M | -$548.0M |
| Net cash provided by operating activities | $8.7B | $8.0B | $4.7B |
| Capital expenditures | -$11.8B | -$10.4B | -$9.7B |
| Proceeds from sales and maturities of nuclear decommissioning trust investments | $2.0B | $2.0B | $2.2B |
| Purchases of nuclear decommissioning trust investments | -$2.0B | -$2.0B | -$2.3B |
| Proceeds from sales and maturities of customer credit trust investments | $435.0M | $398.0M | $556.0M |
| Purchases of customer credit investments | -$742.0M | -$519.0M | $0 |
| Proceeds from self-insurance investments | $1.2B | $0 | $0 |
| Purchases of self-insurance investments | -$1.4B | -$898.0M | $0 |
| Other | $22.0M | $35.0M | $13.0M |
| Net cash used in investing activities | -$12.3B | -$11.4B | -$9.2B |
| Borrowings under credit facilities | $4.8B | $6.9B | $10.7B |
| Repayments under credit facilities | -$1.5B | -$10.1B | -$10.5B |
| Borrowings under term loan | $575.0M | $0 | $2.1B |
| Repayments under term loan | $0 | -$2.6B | -$2.2B |
| Short-term debt financing, net of issuance costs of $0, $1, and $0 at respective dates | $0 | $999.0M | $0 |
| Short-term debt matured | -$1.0B | $0 | $0 |
| Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $38, $5, and $67 at respective dates | $5.0B | $4.5B | $5.5B |
| Repayments of long-term debt | -$3.9B | -$800.0M | -$3.1B |
| Proceeds from issuance of AB 1054 recovery bonds, net of financing fees of $0, $10 and $0 at respective dates | $0 | $1.4B | $0 |
| Proceeds from DWR loan | $0 | $980.0M | $0 |
| Proceeds from issuance of convertible notes, net of discount and issuance costs of $0, $0, and $27 at respective dates | $0 | $0 | $2.1B |
| Common stock issued | $0 | $1.1B | $0 |
| Preferred stock dividends paid | -$97.0M | $0 | $0 |
| Other | -$87.0M | -$59.0M | -$17.0M |
| Net cash provided by financing activities | $3.4B | $3.6B | $4.4B |
| Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents | -$241.0M | $281.0M | -$15.0M |
| Interest, net of amounts capitalized | -$2.7B | -$2.4B | -$2.3B |
| Capital expenditures financed through accounts payable | $1.9B | $1.1B | $1.1B |
| Operating lease liabilities arising from obtaining ROU assets | $0 | $6.0M | $269.0M |
| Financing lease liabilities arising from obtaining ROU assets | $0 | $43.0M | $52.0M |
| Reclassification of operating lease liabilities to financing lease liabilities | $0 | $0 | $913.0M |
| DWR loan forgiveness and performance-based disbursements | $148.0M | $192.0M | $214.0M |
| Changes to PG&E Corporation common stock and treasury stock in connection with the share exchange with the Fire Victim Trust | $0 | $0 | -$2.5B |
| Capital expenditures financed through current assets and non-current liabilities | $592.0M | $0 | $0 |
| Issuance costs for short-term debt | $0 | $1.0M | $0 |
| Premium, discount, and issuance costs on proceeds from long-term debt | $38.0M | $5.0M | $67.0M |
No quarter-by-quarter statement was filed.
Corporate structure
PG&E Corporation sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of PG&E Corporation
- PointState Capital LP Filed SCHEDULE 13G on PG&E Corporation, latest Sep 4, 2026
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Filed SCHEDULE 13G/A on PG&E Corporation, latest Aug 12, 2026 (2 filings since Feb 13, 2025)
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on PG&E Corporation, latest Jul 31, 2026
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on PG&E Corporation, latest Apr 30, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on PG&E Corporation, latest Mar 27, 2026 (7 filings since Feb 9, 2022)
- FMR LLC Filed SCHEDULE 13G/A on PG&E Corporation, latest Aug 6, 2025 (6 filings since Feb 9, 2022)
- JPMorgan Chase Filed SCHEDULE 13G/A on PG&E Corporation, latest Jul 31, 2025 (2 filings since Jan 12, 2024)
- State Street Corporation Filed SCHEDULE 13G on PG&E Corporation, latest May 13, 2025 (3 filings since Jan 29, 2024)
- BlackRock Filed SCHEDULE 13G/A on PG&E Corporation, latest Apr 25, 2025 (3 filings since Feb 3, 2023)
- Capital International Investors Filed SCHEDULE 13G/A on PG&E Corporation, latest Feb 14, 2025 (2 filings since Feb 9, 2024)
- Capital Research Global Investors Filed SC 13G/A on PG&E Corporation, latest Aug 10, 2023 (4 filings since Feb 11, 2022)
- PG&E Fire Victim Trust Filed SC 13D/A on PG&E Corporation, latest Jul 14, 2023 (8 filings since Feb 2, 2022)
- PG&E Corporation Oakland, California, United States
- Pacific Gas and Electric Company Oakland, California, United States
- California Gas Transmission Subsidiary · United States
- Pacific Gas and Electric Company Oakland, California, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What PG&E Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Leasehold improvements | $136.0M11 Dec 31, 2024 | $218.0M11 Dec 31, 2023 | −37.6% |
| Construction in progress | $4.6B7 Dec 31, 2025 | $4.5B7 Dec 31, 2024 | +3.8% |
| Property and equipment, before depreciation | $129.0B7 Dec 31, 2025 | $118.3B7 Dec 31, 2024 | +9.1% |
| Finance-lease assets | $807.0M11 Dec 31, 2024 | $787.0M11 Dec 31, 2023 | +2.5% |
| Operating-lease assets (leased space) | $450.0M7 Dec 31, 2025 | $524.0M7 Dec 31, 2024 | −14.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $713.0M7 Dec 31, 2025 | $940.0M7 Dec 31, 2024 | −24.1% |
Inventory
Properties, in its own words
The Utility owns or has obtained the right to occupy or use real property comprising the Utility’s electricity and natural gas distribution facilities, electric generation facilities, natural gas gathering facilities and generation facilities, and natural gas and electricity transmission facilities, which are described in Item 1. Business, under “Electric Utility Operations”, “Natural Gas Utility Operations,” and “Nuclear Operations.” The Utility occupies or uses real property primarily through various leases, easements, rights-of-way, permits, or licenses from private landowners or governmental authorities. Virtually all of the Utility’s plant property is subject to the lien of a first mortgage bond indenture.
In June 2025, the Utility closed on its acquisition of the Oakland General Office property, which serves as the headquarters of PG&E Corporation and the Utility. For more information, see Note 2 of the Notes to the Consolidated Financial Statements in Item 8.
Item 2 of the 10-K filed Feb 12, 2026.6
Leadership
Who has led PG&E Corporation, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
200020052010201520202025
- Chief executive officerSumeet Singh Mar 3, 2026 to now16
- Chief executive officerPatricia K. Poppe Jan 8, 2021 to Mar 3, 202617
- Chief executive officerAndrew Vesey Aug 28, 2019 to Feb 25, 202018
- Chief executive officerAnthony Earley Sep 15, 2011 to Dec 2, 201619
- Chief executive officerNancy E. McFadden Jan 5, 2010 to Mar 12, 201020
- Chief executive officerLeslie H. Everett Jan 5, 2006 to Jan 5, 200621
- Chief executive officerPeter A. Darbee Jan 5, 2006 to Mar 8, 201122
- ChairHyun Park Mar 3, 2017 to May 9, 201723
- ChairAnthony Earley Sep 15, 2011 to May 9, 201719
- ChairPeter A. Darbee Jan 5, 2006 to Mar 8, 201122
- PresidentAnthony Earley Sep 15, 2011 to Dec 2, 201619
- PresidentPeter A. Darbee Jan 5, 2006 to Mar 8, 201122
- Chief financial officerCarolyn Jeanne Burke Mar 19, 2024 to now24
- Chief financial officerChristopher A. Foster Oct 2, 2020 to Mar 24, 202325
- Chief financial officerJason P. Wells Jan 6, 2016 to Aug 18, 202026
- Chief financial officerKent M. Harvey Aug 12, 2009 to Mar 6, 201527
- Chief financial officerChristopher P. Johns Jan 5, 2006 to Jun 8, 200928
- Chief operating officerSumeet Singh Mar 3, 2023 to Mar 4, 202529
Board members and other officers (69)
- EVP, Strategy and GrowthJason M. Glickman Mar 3, 2026 to now30
- EVP, Chief People OfficerAlejandro T. Vallejo Oct 10, 2025 to now31
- EVP, Chief People OfficerKaled Awada Jan 24, 2024 to now32
- VP and ControllerStephanie N. Williams Jan 19, 2023 to now33
- EVP FinanceCarolyn Jeanne Burke Mar 20, 2023 to Apr 28, 202334
- SVP & Chf Information OfcAjay Waghray Feb 18, 2022 to now35
- EVP/Corp. Affairs & CSOCarla J. Peterman Feb 18, 2022 to now36
- EVP/Ppl, Shrd Svcs & Spply ChnJulius Cox Feb 18, 2022 to Mar 3, 202337
- Sr. Vice Pres. & Chf Risk OfrSumeet Singh Jan 8, 2021 to Feb 27, 202338
- VP Gen, Chief Nuclear OfficerJames M. Welsch Apr 23, 2019 to Apr 23, 201939
- VP Gas Ops, Pacific Gas & ElecMelvin J. Christopher Jun 12, 2019 to Jun 12, 201940
- SVP, Strategy and PolicySteven E. Malnight Mar 2, 2017 to Mar 8, 201841
- VP and ControllerDavid S. Thomason Jun 7, 2016 to Mar 3, 202142
- SVP, Chief Compliance OfficerJulie Kane May 26, 2015 to Mar 5, 201943
- SVP, Corporate AffairsHelen A. Burt Sep 26, 2014 to Mar 3, 201644
- VP and ControllerDinyar B. Mistry Mar 9, 2010 to Mar 5, 201945
- Vice President and ControllerStephen J. Cairns Jun 3, 2008 to Mar 5, 201046
- SVP - Public AffairsNancy E. McFadden Mar 2, 2007 to Mar 9, 200947
- SVP, Corporate RelationsGreg S. Pruett Nov 9, 2007 to Mar 7, 201448
- Vice President and ControllerG. Robert Powell Jan 5, 2006 to Jan 3, 200849
- SVP & Chief Risk & Audit Offr.Kent M. Harvey Jan 5, 2006 to Mar 8, 201650
- SVP Corp. Strategy & Dev.Rand L. Rosenberg Jan 5, 2006 to Mar 8, 201151
- SVP - Human ResourcesRussell M. Jackson Jan 5, 2006 to Jan 8, 200752
- SVP, Comm. & Public AffairsLeslie H. Everett Mar 15, 2006 to Jan 5, 200753
- Board memberLeo P. Denault Feb 28, 2025 to now54
- Board memberJohn O. Larsen May 27, 2025 to now55
- Board memberEdward G. Cannizzaro Mar 6, 2023 to now56
- Board memberPatricia K. Poppe Jan 8, 2021 to now17
- Board memberJessica Denecour Jul 9, 2020 to now57
- Board memberDean Seavers Jul 10, 2020 to May 23, 202258
- Board memberKerry Whorton Cooper Jul 10, 2020 to now59
- Board memberMark E. Ferguson Iii. Jul 10, 2020 to now60
- Board memberMichael R. Niggli Jul 10, 2020 to May 21, 202461
- Board memberOluwadara Johnson Treseder Jul 10, 2020 to May 24, 202162
- Board memberRajat Bahri Jul 10, 2020 to now63
- Board memberRobert C. Flexon Jul 10, 2020 to May 21, 202464
- Board memberWilliam Craig Fugate Jul 10, 2020 to now65
- Board memberAlejandro Daniel Wolff Apr 19, 2019 to Apr 19, 201966
- Board memberCheryl F. Campbell Apr 19, 2019 to now67
- Board memberDominique Mielle Apr 19, 2019 to Apr 19, 201968
- Board memberJeffrey L. Bleich Apr 19, 2019 to Apr 19, 201969
- Board memberKenneth Liang Apr 19, 2019 to Apr 19, 201970
- Board memberKristine M. Schmidt Apr 19, 2019 to Apr 19, 201971
- Board memberMeridee Moore Apr 19, 2019 to Apr 19, 201972
- Board memberMichael J. Leffell Apr 19, 2019 to Apr 2, 202073
- Board memberNora Mead Brownell Apr 19, 2019 to Apr 19, 201974
- Board memberRichard R. Barrera Apr 19, 2019 to Apr 2, 202075
- Board memberFrederick W. Buckman May 1, 2019 to Oct 3, 201976
- Board memberJohn M. Woolard Oct 21, 2019 to Aug 5, 202077
- Board memberBenito Minicucci Jul 9, 2018 to Jul 9, 201878
- Board memberJeh C. Johnson May 31, 2017 to May 31, 201779
- Board memberEric Mullins Sep 28, 2016 to Apr 2, 202080
- Board memberAnne S. Smith Feb 26, 2015 to May 24, 201881
- Board memberFred J. Fowler Mar 7, 2012 to May 24, 201882
- Board memberRoger H. Kimmel Jan 9, 2009 to Jan 4, 201983
- Board memberForrest E. Miller Feb 17, 2009 to Jan 4, 201984
- Board memberLewis Chew Sep 22, 2009 to May 24, 201885
- Board memberRosendo G. Parra Sep 22, 2009 to May 24, 201886
- Board memberBarbara L. Rambo Jan 5, 2006 to May 24, 201887
- Board memberC. Lee Cox Jan 5, 2006 to Jun 20, 201388
- Board memberDavid A. Coulter Jan 5, 2006 to May 16, 200889
- Board memberDavid R. Andrews Jan 5, 2006 to Jun 20, 201390
- Board memberLeslie S. Biller Jan 5, 2006 to May 16, 200891
- Board memberMary S. Metz Jan 5, 2006 to Mar 10, 200992
- Board memberMaryellen C. Herringer Jan 5, 2006 to Apr 5, 201793
- Board memberRichard A. Meserve Dec 29, 2006 to May 24, 201894
- General counselJanet C. Loduca Jan 23, 2019 to Mar 4, 202095
- General counselBruce R. Worthington Jan 5, 2006 to Aug 29, 200696
- General counselHyun Park Nov 15, 2006 to Nov 30, 201697
Subsidiaries and ownership
Subsidiaries
From Wikidata.1
Former names
Timeline
- Aug 31, 20268-K Regulation FD disclosure98
- Aug 4, 20268-K Other events99
- Jul 23, 20268-K Results of operations; Regulation FD disclosure100
- Jun 23, 20268-K Entered a material agreement; Other events101
- Jun 3, 20268-K Other events102
- May 26, 20268-K Shareholder vote103
- Apr 23, 20268-K Results of operations; Regulation FD disclosure104
- Mar 3, 2026New chief executive Sumeet Singh becomes CEO16
- Feb 20, 20268-K Other events105
- Feb 19, 20268-K Other events106
- Feb 12, 20268-K Results of operations; Regulation FD disclosure107
- Dec 17, 20258-K Executive or director change; Bylaws or fiscal year changed; Other events108
- Oct 23, 20258-K Results of operations; Regulation FD disclosure109
- Jan 8, 2021New chief executive Patricia K. Poppe becomes CEO17
- Aug 28, 2019New chief executive Andrew Vesey becomes CEO18
- Sep 15, 2011New chief executive Anthony Earley becomes CEO19
- Jan 5, 2010New chief executive Nancy E. McFadden becomes CEO20
- Jan 5, 2006New chief executive Peter A. Darbee becomes CEO22
- Jan 5, 2006New chief executive Leslie H. Everett becomes CEO21
- 1995Founded Founded1
Calendar
Coming up
- Oct 22, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.50 a share, on Oct 23, 2025.110
When it reported results
- Jul 23, 2026Reported quarterly or annual results100
- Apr 23, 2026Reported quarterly or annual results104
- Feb 12, 2026Reported quarterly or annual results107
- Oct 23, 2025Reported quarterly or annual results109
- Jul 31, 2025Reported quarterly or annual results111
- Apr 24, 2025Reported quarterly or annual results112
- Feb 13, 2025Reported quarterly or annual results113
- Nov 7, 2024Reported quarterly or annual results114
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
462 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 98 major events, 222 insider forms, 42 large holders, 80 other. The latest 20:
- Oct 2, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Sep 25, 20264 EDGAR
- Sep 9, 20264 EDGAR
- Sep 4, 2026144 EDGAR
- Sep 4, 2026SCHEDULE 13G EDGAR
- Aug 31, 20268-K CURRENT REPORT EDGAR
- Aug 24, 20264 EDGAR
- Aug 12, 2026SCHEDULE 13G/A EDGAR
- Aug 4, 20264 EDGAR
- Aug 4, 20268-K EDGAR
- Jul 31, 2026SCHEDULE 13G EDGAR
- Jul 27, 20264 EDGAR
- Jul 24, 20264 EDGAR
- Jul 24, 20264 EDGAR
- Jul 23, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- Jul 22, 2026144 EDGAR
- Jul 22, 2026144 EDGAR
- Jul 21, 2026S-8 EDGAR
The 462 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
40 open-market trades by officers, directors and large owners since October 2021: 8 buys and 32 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 4, 2026 | Fugate William CraigDirector | Sale | 6,500 | $13.76 | $89.4K | Form 4 |
| Jul 22, 2026 | Cooper Kerry WhortonDirector | Sale | 1,250 | $18.00 | $22.5K | Form 4 |
| Jul 22, 2026 | Santos Marlene | Sale | 158,250 | $18.00 | $2.8M | Form 4 |
| Jun 15, 2026 | Peterman Carla JPresident, EVP Cust&Corp Afrs | Sale | 31,786 | $16.68 | $530.2K | Form 4 |
| Jun 2, 2026 | Cooper Kerry WhortonDirector | Sale | 1,250 | $16.50 | $20.6K | Form 4 |
| Apr 28, 2026 | Glickman Jason MEVP, Strategy and Growth | Sale | 47,264 | $16.35 | $772.8K | Form 4 |
| Apr 28, 2026 | Poppe Patricia KChief Executive Officer | Sale | 31,250 | $16.39 | $512.2K | Form 4 |
| Mar 17, 2026 | Cooper Kerry WhortonDirector | Sale | 2,500 | $18.68 | $46.7K | Form 4 |
| Mar 16, 2026 | Peterman Carla JPresident, EVP Cust&Corp Afrs | Sale | 31,786 | $18.31 | $582.0K | Form 4 |
| Mar 5, 2026 | Singh SumeetCEO and EVP at PG&E Company | Sale | 55,698 | $18.32 | $1.0M | Form 4 |
| Feb 19, 2026 | SIMON JOHN REVP, GC, Chief E&C Officer | Sale | 45,607 | $18.00 | $820.9K | Form 4 |
| Feb 18, 2026 | SIMON JOHN REVP, GC, Chief E&C Officer | Sale | 4,393 | $18.01 | $79.1K | Form 4 |
| Feb 18, 2026 | Poppe Patricia KChief Executive Officer | Sale | 31,250 | $17.90 | $559.4K | Form 4 |
| Nov 4, 2025 | LARSEN JOHN ODirector | Buy | 7,500 | $15.96 | $119.7K | Form 4 |
| Oct 30, 2025 | Glickman Jason MEVP, Strategy and Growth | Sale | 29,473 | $15.95 | $470.1K | Form 4 |
| Aug 11, 2025 | FERGUSON III MARK EDirector | Sale | 7,000 | $15.15 | $106.0K | Form 4 |
| Apr 29, 2025 | Peterman Carla JPresident, EVP Cust&Corp Afrs | Sale | 32,519 | $17.30 | $562.6K | Form 4 |
| Mar 11, 2025 | DENAULT LEO PDirector | Buy | 6,300 | $15.96 | $100.5K | Form 4 |
| Mar 10, 2025 | Glickman Jason MEVP, Strategy and Growth | Sale | 40,239 | $15.71 | $632.2K | Form 4 |
| Mar 6, 2025 | Williams Stephanie NVP and Controller | Sale | 14,984 | $16.21 | $242.9K | Form 4 |
All 40 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- PointState Capital LPSCHEDULE 13G, 1 filing Sep 4, 2026115
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/SCHEDULE 13G/A, 2 filings Feb 13, 2025 to Aug 12, 2026116
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Jul 31, 2026117
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 2026118
- VANGUARD GROUP INCSCHEDULE 13G/A, 7 filings Feb 9, 2022 to Mar 27, 2026119
- FMR LLCSCHEDULE 13G/A, 6 filings Feb 9, 2022 to Aug 6, 2025120
- JPMorgan ChaseSCHEDULE 13G/A, 2 filings Jan 12, 2024 to Jul 31, 2025121
- State Street CorporationSCHEDULE 13G, 3 filings Jan 29, 2024 to May 13, 2025122
- BlackRockSCHEDULE 13G/A, 3 filings Feb 3, 2023 to Apr 25, 2025123
- Capital International InvestorsSCHEDULE 13G/A, 2 filings Feb 9, 2024 to Feb 14, 2025124
- Capital Research Global InvestorsSC 13G/A, 4 filings Feb 11, 2022 to Aug 10, 2023125
- PG&E Fire Victim TrustSC 13D/A, 8 filings Feb 2, 2022 to Jul 14, 2023126
- Shaolin Capital Management LLCSC 13G/A, 2 filings Feb 14, 2023 to Feb 22, 2023127
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Patricia K. PoppeCEO, PG&E Corporation | $1.4M | $19.8M128 | |
| 2025 | Sumeet SinghEVP, Operations and Chief Operating Officer, Pacific Gas and Electric Company | $969.2K | $5.0M128 | |
| 2025 | Marlene M. SantosEVP and Chief Customer Officer and Enterprise Solutions Officer, Pacific Gas and Electric Company | $967.4K | $4.9M128 | |
| 2025 | John R. SimonEVP, General Counsel, and Chief Ethics & Compliance Officer, PG&E Corporation | $907.4K | $4.8M128 | |
| 2025 | Carolyn J. BurkeEVP and CFO, PG&E Corporation | $770.7K | $3.5M128 | |
| 2025 | Jason M. GlickmanEVP, Engineering, Planning and Strategy, Pacific Gas and Electric Company | $794.9K | $3.4M128 | |
| 2025 | Ajay WaghrayEVP and Chief Information Officer, PG&E Corporation and Pacific Gas and Electric Company | $745.2K | $2.6M128 | |
| 2025 | Kaled H. AwadaFormer EVP and Chief People Officer, PG&E Corporation and Pacific Gas and Electric Company | $560.4K | $2.3M128 | |
| 2025 | Alejandro T. VallejoEVP and Chief People Officer, PG&E Corporation and Pacific Gas and Electric Company | $482.8K | $1.8M128 | |
| 2025 | Stephanie N. WilliamsVP and Controller, PG&E Corporation and VP, CFO and Controller, Pacific Gas and Electric Company | $399.6K | $1.3M128 | |
| 2024 | Patricia K. PoppeCEO, PG&E Corporation | $1.4M | $15.8M128 | |
| 2024 | John R. SimonEVP, General Counsel, and Chief Ethics & Compliance Officer, PG&E Corporation | $878.2K | $6.1M128 | |
| 2024 | Marlene M. SantosEVP and Chief Customer Officer and Enterprise Solutions Officer, Pacific Gas and Electric Company | $936.2K | $5.2M128 | |
| 2024 | Kaled H. AwadaFormer EVP and Chief People Officer, PG&E Corporation and Pacific Gas and Electric Company | $686.5K | $4.9M128 | |
| 2024 | Sumeet SinghEVP, Operations and Chief Operating Officer, Pacific Gas and Electric Company | $936.2K | $4.7M128 | |
| 2024 | Carolyn J. BurkeEVP and CFO, PG&E Corporation | $746.1K | $3.3M128 | |
| 2024 | Jason M. GlickmanEVP, Engineering, Planning and Strategy, Pacific Gas and Electric Company | $769.5K | $3.3M128 | |
| 2024 | Ajay WaghrayEVP and Chief Information Officer, PG&E Corporation and Pacific Gas and Electric Company | $724.1K | $3.0M128 | |
| 2024 | Stephanie N. WilliamsVP and Controller, PG&E Corporation and VP, CFO and Controller, Pacific Gas and Electric Company | $386.7K | $1.1M128 | |
| 2023 | Patricia K. PoppeCEO, PG&E Corporation | $1.4M | $17.0M128 | |
| 2023 | Marlene M. SantosEVP and Chief Customer Officer and Enterprise Solutions Officer, Pacific Gas and Electric Company | $902.3K | $5.4M128 | |
| 2023 | Sumeet SinghEVP, Operations and Chief Operating Officer, Pacific Gas and Electric Company | $869.0K | $5.3M128 | |
| 2023 | John R. SimonEVP, General Counsel, and Chief Ethics & Compliance Officer, PG&E Corporation | $846.3K | $5.0M128 | |
| 2023 | Carolyn J. BurkeEVP and CFO, PG&E Corporation | $580.5K | $4.4M128 | |
| 2023 | Jason M. GlickmanEVP, Engineering, Planning and Strategy, Pacific Gas and Electric Company | $743.1K | $3.7M128 | |
| 2023 | Stephanie N. WilliamsVP and Controller, PG&E Corporation and VP, CFO and Controller, Pacific Gas and Electric Company | $379.8K | $1.3M128 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 203,140,117 | $3.4B | 0.1% | +7,617,793 |
| Vanguard Capital Management LLC | 142,036,384 | $2.4B | 0.1% | +972,838 |
| State Street Corp | 128,484,925 | $2.2B | 0.1% | +2,611,469 |
| Fmr LLC | 119,559,243 | $2.0B | 0.1% | +484,144 |
| Vanguard Portfolio Management LLC | 110,884,839 | $1.9B | 0.1% | +1,811,220 |
| Massachusetts Financial Services Co /ma/ | 101,483,416 | $1.7B | 0.5% | −7,910,420 |
| Aqr Capital Management LLC | 86,284,177 | $1.5B | 0.5% | +49,408 |
| Geode Capital Management, LLC | 66,995,996 | $1.2B | 0.1% | +2,040,091 |
| Deutsche Bank Ag\ | 40,201,738 | $676.2M | 0.2% | −3,695,046 |
| Ameriprise Financial Inc | 36,787,426 | $618.6M | 0.1% | +1,734,445 |
| Jpmorgan Chase & Co | 32,150,501 | $554.3M | 0.0% | +3,838,050 |
| Norges Bank | 31,995,975 | $538.2M | 0.1% | New |
| Sessa Capital IM, L.P. | 24,578,101 | $413.4M | 7.1% | No change |
| Franklin Resources Inc | 24,471,790 | $411.6M | 0.1% | +2,872,526 |
| Legal & General Group Plc | 23,716,734 | $398.9M | 0.1% | −172,424 |
| Morgan Stanley | 23,315,333 | $392.2M | 0.0% | +5,175,976 |
| PointState Capital LP | 20,273,520 | $341.0M | 6.0% | −1,193,695 |
| Clearbridge Investments, LLC | 19,975,228 | $336.0M | 0.3% | −6,006,015 |
| Two Sigma Investments, LP | 19,512,052 | $328.2M | 0.3% | +12,454,879 |
| Canada Pension Plan Investment Board | 19,073,716 | $320.8M | 0.2% | −1,151,486 |
| Invesco Ltd. | 18,805,073 | $316.3M | 0.0% | +1,716,287 |
| Barrow Hanley Mewhinney & Strauss LLC | 18,719,059 | $314.9M | 1.0% | −10,230,349 |
| Northern Trust Corp | 18,363,023 | $308.9M | 0.0% | +149,795 |
| Gallagher Fiduciary Advisors, LLC | 38,625,717 | $300.9M | 9.9% | +20,118,924 |
| Hsbc Holdings PLC | 17,586,566 | $296.1M | 0.1% | −1,317,137 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
4 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Sep 23, 2025 | Val T. HoyleDemocratic, House | Sale | $1,001 - $15,000 | +28.4% | Report |
| Feb 26, 2025 | Gilbert Ray Cisneros, Jr.Democratic, House | Sale | $1,001 - $15,000 | +49.0% | Report |
| Jan 24, 2025 | Gilbert Ray Cisneros, Jr.Democratic, House | Partial sale | $1,001 - $15,000 | +48.6% | Report |
| Oct 29, 2024 | Val T. HoyleDemocratic, House | Buy | $1,001 - $15,000 | −68.2% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How PG&E Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPG&E Corp2
- CIK0001004980
- Employer ID (EIN)94-32349146
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
- Incorporated inCalifornia6
- Fiscal year endsDecember 312
- Industry code (SIC)4931 Electric & Other Services Combined2
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
- Business address300 Lakeside Drive, Oakland, CA 946122
- Phone41597310002
- Shares outstanding2,675,711,544 shares; 264,374,809 Pacific Gas Electric Co shares as of Feb 4, 20266
- Public float$37.2B as of Jun 30, 20256
- AuditorDELOITTE & TOUCHE LLP, San Francisco, California PCAOB ID 34; it also attests to the company’s internal control over financial reporting6
- On EDGAR sinceFeb 21, 19962
- Filings3,134 in all: 4 (1,419), 8-K (875), 10-Q (89), 3 (87), SC 13G/A (55), 11-K (45), NO ACT (44), DEFA14A (41)2
All 63 form types
SC 13D/A (35), 4/A (30), 144 (29), DEF 14A (29), 10-K (27), 8-K/A (27), SC 13G (25), 424B5 (23), S-8 POS (18), CORRESP (16), UPLOAD (16), S-8 (15), ARS (13), 424B2 (12), DFAN14A (12), U-3A-2 (10), POS AM (9), EFFECT (8), FWP (8), S-3 (8), 10-K/A (7), 15-15D (7), 424B3 (7), S-3/A (7), SCHEDULE 13G/A (7), 10-Q/A (6), 3/A (6), S-3ASR (6), SC 13D (6), SCHEDULE 13G (6), PRE 14A (5), 10-K405 (3), 11-K/A (3), 8-A12B (3), S-4 (3), U-1/A (3), 25 (2), 305B2 (2), CERT (2), NT 11-K (2), U-3A-2/A (2), 15-12G (1), 25-NSE (1), 5 (1), 8-A12B/A (1), 8-B12B (1), NT 10-K (1), NT 10-Q (1), POSASR (1), PRER14A (1), RW (1), S-3D (1), S-4/A (1), SE (1), U-1 (1)
- Latest filingsAnnual report (10-K) Feb 12, 2026
Quarterly report (10-Q) Jul 23, 2026
Proxy statement (DEF 14A) Apr 9, 2026
Latest 8-K (8-K) Aug 31, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, no par value | PCG | The New York Stock Exchange |
| First preferred stock, cumulative, par value $25 per share, 6% nonredeemable | PCG-PA | NYSE American LLC |
| First preferred stock, cumulative, par value $25 per share, 5.50% nonredeemable | PCG-PB | NYSE American LLC |
| First preferred stock, cumulative, par value $25 per share, 5% nonredeemable | PCG-PC | NYSE American LLC |
| First preferred stock, cumulative, par value $25 per share, 5% redeemable | PCG-PD | NYSE American LLC |
| First preferred stock, cumulative, par value $25 per share, 5% series A redeemable | PCG-PE | NYSE American LLC |
| First preferred stock, cumulative, par value $25 per share, 4.80% redeemable | PCG-PG | NYSE American LLC |
| First preferred stock, cumulative, par value $25 per share, 4.50% redeemable | PCG-PH | NYSE American LLC |
| First preferred stock, cumulative, par value $25 per share, 4.36% series A redeemable | PCG-PI | NYSE American LLC |
| 6.000% Series A Mandatory Convertible Preferred Stock, no par value | PCG-PrX | The New York Stock Exchange |
From the cover page of the 10-K filed Feb 12, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks PG&E Corporation names in Item 1A of its 10-K filed Feb 12, 2026: 25 risks under these headings, as written.6
- Risks Related to Wildfires
- The Wildfire Fund, Continuation Account, and other provisions of AB 1054 and SB 254 may not effectively mitigate the risk of liability for damages arising from catastrophic wildfires.
- PG&E Corporation’s and the Utility’s liabilities for the 2019 Kincade fire, the 2021 Dixie fire, the 2022 Mosquito fire, or the Wildfire-Related Securities Claims could exceed their estimated liabilities, or they could be liable as a result of future wildfires.
- The Utility may be unable to recover all or a significant portion of its costs in excess of insurance coverage in connection with wildfires through rates.
- The Utility may not effectively implement its wildfire mitigation initiatives.
- Risks Related to Regulatory Proceedings, Investigations, and Enforcement Matters
- The Utility’s ratemaking and cost recovery proceedings may not authorize sufficient revenues, or the Utility’s actual costs could exceed its authorized or forecasted costs.
- An Enhanced Oversight and Enforcement Process proceeding could result in the Utility losing its license to operate as a utility.
- PG&E Corporation and the Utility could be adversely affected by legislative and regulatory developments, including through increased compliance costs and penalties.
- The Utility is subject to extensive regulations and enforcement proceedings in connection with compliance with regulations, which could result in penalties.
- Jurisdictions attempt to acquire the Utility’s assets through eminent domain, and third parties attempt to acquire the Utility’s customers by bypassing the Utility’s electric infrastructure system.
- Risks Related to Operations and Information Technology
The other 16 risks
- The Utility’s electricity and natural gas operations are inherently hazardous and involve significant risks.
- The electric power and natural gas industries are undergoing significant changes driven by technological advancements and a decarbonized economy, which could lead to the reduction in demand for natural gas as an energy resource that could impact the Utility’s ability to recover the value of its investments through rates.
- The Utility’s operational networks and information technology systems could be impacted by a cyber incident, cybersecurity breach, physical attack, or technology failure.
- The operation and decommissioning of the Utility’s nuclear generation facilities expose it to potentially significant liabilities, and the Utility may not be able to fully recover its costs if regulatory requirements or operating conditions change or the facilities cease operations before the licenses expire.
- The Utility may be unable to attract and retain specialty personnel and may face workforce disruptions.
- PG&E Corporation’s and the Utility’s business activities are concentrated in one industry and in one region.
- Risks Related to Environmental Factors
- Severe weather events, extended drought, and climate change could materially affect PG&E Corporation and the Utility.
- The Utility’s environmental remediation costs could exceed its liability estimates.
- Risks Related to PG&E Corporation’s and the Utility’s Environment and Financial Condition
- The Utility may be unable to manage its costs effectively.
- Concerns about high rates for the Utility’s customers could negatively impact PG&E Corporation’s and the Utility’s financial condition, results of operations, liquidity, and cash flows.
- PG&E Corporation’s and the Utility’s substantial indebtedness may adversely affect their financial health and operating flexibility.
- The documents that govern PG&E Corporation’s and the Utility’s indebtedness limit their flexibility in operating their business.
- PG&E Corporation capital stock is subject to ownership and transfer restrictions intended to preserve PG&E Corporation’s ability to use its net operating loss carryforwards and other tax attributes.
- PG&E Corporation may not be able to use some or all of its net operating loss carryforwards and other tax attributes to offset future income.
- PG&E Corporation is a holding company and relies on dividends, distributions, and other payments, advances, and transfers of funds from the Utility to pay dividends on its capital stock and meet its obligations.
- Inflation and supply chain issues may adversely affect PG&E Corporation and the Utility.
Legal proceedings
In addition to the following proceedings, PG&E Corporation and the Utility are parties to various lawsuits and regulatory proceedings in the ordinary course of their business. For more information regarding material lawsuits and proceedings, see “Litigation and Other Matters” in Item 7. MD&A, Item 1A. Risk Factors and Notes 9, 14, and 15 of the Notes to the Consolidated Financial Statements in Item 8.
SEC rules require disclosure of certain environmental matters when a governmental authority is a party to the proceedings and such proceedings involve potential monetary sanctions that the company reasonably believes will exceed a specified threshold. Consistent with SEC rules, each of PG&E Corporation and the Utility has elected to use $1 million as the quantitative threshold for disclosure of such proceedings.
CZU Lightning Complex Fire Notices of Violation
Between November 2020 and January 2021, several governmental entities raised concerns regarding the Utility’s emergency response to the 2020 CZU Lightning Complex fire, including Cal Fire, the California Coastal Commission, the Central Coast Regional Water Quality Control Board, and the Santa Cruz County Board of Supervisors alleging environmental, vegetation management, and unpermitted work violations. The Utility continues to work with the California Coastal Commission and the Central Coast Regional Water Quality Control Board to resolve any outstanding issues. Violations can result in penalties, remediation, and other relief.
The opening of Item 3, Legal Proceedings.6
Links
- WikidataQ108535726
- SEC EDGARCIK 1004980
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataPG&E Corporation on Wikidata
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- 4Yahoo FinancePCG quote
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- 23SEC EDGARHyun Park, Chair
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- 34SEC EDGARCarolyn Jeanne Burke, EVP Finance
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- 42SEC EDGARDavid S. Thomason, VP and Controller
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- 45SEC EDGARDinyar B. Mistry, VP and Controller
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- 54SEC EDGARLeo P. Denault, Board member
- 55SEC EDGARJohn O. Larsen, Board member
- 56SEC EDGAREdward G. Cannizzaro, Board member
- 57SEC EDGARJessica Denecour, Board member
- 58SEC EDGARDean Seavers, Board member
- 59SEC EDGARKerry Whorton Cooper, Board member
- 60SEC EDGARMark E. Ferguson Iii., Board member
- 61SEC EDGARMichael R. Niggli, Board member
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- 63SEC EDGARRajat Bahri, Board member
- 64SEC EDGARRobert C. Flexon, Board member
- 65SEC EDGARWilliam Craig Fugate, Board member
- 66SEC EDGARAlejandro Daniel Wolff, Board member
- 67SEC EDGARCheryl F. Campbell, Board member
- 68SEC EDGARDominique Mielle, Board member
- 69SEC EDGARJeffrey L. Bleich, Board member
- 70SEC EDGARKenneth Liang, Board member
- 71SEC EDGARKristine M. Schmidt, Board member
- 72SEC EDGARMeridee Moore, Board member
- 73SEC EDGARMichael J. Leffell, Board member
- 74SEC EDGARNora Mead Brownell, Board member
- 75SEC EDGARRichard R. Barrera, Board member
- 76SEC EDGARFrederick W. Buckman, Board member
- 77SEC EDGARJohn M. Woolard, Board member
- 78SEC EDGARBenito Minicucci, Board member
- 79SEC EDGARJeh C. Johnson, Board member
- 80SEC EDGAREric Mullins, Board member
- 81SEC EDGARAnne S. Smith, Board member
- 82SEC EDGARFred J. Fowler, Board member
- 83SEC EDGARRoger H. Kimmel, Board member
- 84SEC EDGARForrest E. Miller, Board member
- 85SEC EDGARLewis Chew, Board member
- 86SEC EDGARRosendo G. Parra, Board member
- 87SEC EDGARBarbara L. Rambo, Board member
- 88SEC EDGARC. Lee Cox, Board member
- 89SEC EDGARDavid A. Coulter, Board member
- 90SEC EDGARDavid R. Andrews, Board member
- 91SEC EDGARLeslie S. Biller, Board member
- 92SEC EDGARMary S. Metz, Board member
- 93SEC EDGARMaryellen C. Herringer, Board member
- 94SEC EDGARRichard A. Meserve, Board member
- 95SEC EDGARJanet C. Loduca, General counsel
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- 97SEC EDGARHyun Park, General counsel
- 98SEC EDGARRegulation FD disclosure
- 99SEC EDGAROther events
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- 101
- 102SEC EDGAROther events
- 103SEC EDGARShareholder vote
- 104
- 105SEC EDGAROther events
- 106SEC EDGAROther events
- 107
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- 110NasdaqNasdaq calendar
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