<SEC-DOCUMENT>0001179110-20-000329.txt : 20200106
<SEC-HEADER>0001179110-20-000329.hdr.sgml : 20200106
<ACCEPTANCE-DATETIME>20200106174102
ACCESSION NUMBER:		0001179110-20-000329
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200102
FILED AS OF DATE:		20200106
DATE AS OF CHANGE:		20200106

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Callen David
		CENTRAL INDEX KEY:			0001636160

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15891
		FILM NUMBER:		20511115

	MAIL ADDRESS:	
		STREET 1:		NRG ENERGY, INC.
		STREET 2:		211 CARNEGIE CENTER
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08540

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NRG ENERGY, INC.
		CENTRAL INDEX KEY:			0001013871
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				411724239
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		804 CARNEGIE CENTER
		STREET 2:		-
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08540
		BUSINESS PHONE:		609-524-4500

	MAIL ADDRESS:	
		STREET 1:		804 CARNEGIE CENTER
		STREET 2:		-
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08540

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NRG ENERGY INC
		DATE OF NAME CHANGE:	19960509
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
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    <periodOfReport>2020-01-02</periodOfReport>

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    <issuer>
        <issuerCik>0001013871</issuerCik>
        <issuerName>NRG ENERGY, INC.</issuerName>
        <issuerTradingSymbol>NRG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
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            <rptOwnerCik>0001636160</rptOwnerCik>
            <rptOwnerName>Callen David</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>NRG ENERGY, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>804 CARNEGIE CENTER</rptOwnerStreet2>
            <rptOwnerCity>PRINCETON</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>08540</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP,Chief Accounting Officer</officerTitle>
            <otherText></otherText>
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.01 per share</value>
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            <transactionAmounts>
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                    <value>16763</value>
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                <transactionPricePerShare>
                    <footnoteId id="F11"/>
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                    <value>D</value>
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2020-01-03</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>1321</value>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Relative Performance Stock Units</value>
            </securityTitle>
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            <transactionDate>
                <value>2020-01-02</value>
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                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>7435</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2023-01-02</value>
            </exerciseDate>
            <expirationDate>
                <value>2023-01-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>14870</value>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>39480</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                <value>2020-01-03</value>
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            <expirationDate>
                <value>2020-01-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01 per share</value>
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                    <value>19740</value>
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                    <value>D</value>
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        <derivativeTransaction>
            <securityTitle>
                <value>Dividend Equivalent Rights</value>
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                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01 per share</value>
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    <footnotes>
        <footnote id="F1">Represents Restricted Stock Units issued to the Reporting Person under NRG Energy, Inc.'s Amended and Restated  Long-Term Incentive Plan (&quot;LTIP&quot;).</footnote>
        <footnote id="F2">Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01 per share. The Reporting Person will receive from NRG one such share of Common Stock for each RSU that will vest ratably over a three year period beginning on the first anniversary of the date of grant.</footnote>
        <footnote id="F3">On January 2, 2018,  the Reporting Person was issued 5,540 Restricted Stock Units (&quot;RSUs&quot;) by NRG Energy, Inc. under NRG Energy, Inc.'s Amended and Restated Long Term Incentive Plan. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01. On January 2, 2020, 1,845 shares vested. The Reporting Person elected to satisfy their tax obligation upon the exchange of common stock for RSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 681 shares of common stock to satisfy the grantee's tax withholding obligation.</footnote>
        <footnote id="F4">In connection with the vesting of the RSUs described above, 12 DERs vested, resulting in the Reporting Person holding 81 dividend equivalent rights in the aggregate. Dividend equivalent rights accrue on the Reporting Person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.</footnote>
        <footnote id="F5">On January 2, 2019, the Reporting Person was issued 4,286 Restricted Stock Units (&quot;RSUs&quot;) by NRG Energy, Inc. under NRG Energy, Inc.'s Amended and Restated Long Term Incentive Plan. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01. On January 2, 2020, 1,427 shares vested. The Reporting Person elected to satisfy their tax obligation upon the exchange of common stock for RSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 516 shares of common stock to satisfy the grantee's tax withholding obligation.</footnote>
        <footnote id="F6">In connection with the vesting of the RSUs described above, 4 DERs vested, resulting in the Reporting Person holding 77 dividend equivalent rights in the aggregate. Dividend equivalent rights accrue on the Reporting Person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.</footnote>
        <footnote id="F7">The Reporting Person was issued 7,435 Relative Performance Stock Units (&quot;RPSUs&quot;) by NRG Energy, Inc. under the LTIP on January 2, 2020. The RPSUs will convert to shares of NRG Common Stock on January 2, 2023 only in the event the Company has achieved a certain level of total shareholder return (&quot;TSR&quot;) relative to the Peer Group (defined below) over a three-year performance period. The number of shares of Common Stock that the Reporting Person may receive is interpolated for TSR falling between Threshold, Target, and Maximum levels as described below.</footnote>
        <footnote id="F8">Reporting Person will receive(i) a maximum of 14,870 shares of Common Stock if Company's TSR is ranked at or above the 75th percentile relative to a peer group of companies approved by the Company's Compensation Committee (the &quot;Peer Group&quot;) for the performance period (the &quot;Maximum&quot;); (ii) 7,435 shares of Common Stock if Company's TSR is ranked at the 55th percentile relative to the Peer Group for the performance period (the &quot;Target&quot;); provided, however, if TSR is less than negative fifteen percent (-15%), the Company's TSR must be ranked at the 65th percentile relative to the Peer Group for the performance period to receive the Target award; or (iii) 1,858 shares of Common Stock if Company's TSR is ranked at the 25th percentile relative to the Peer Group for the performance period (the &quot;Threshold&quot;). The Reporting Person will not receive any shares of Common Stock if Company's TSR is below the 25th percentile relative to the Peer Group for the performance period.</footnote>
        <footnote id="F9">The Maximum award that the Reporting Person will receive shall not exceed six (6) times the fair market value of the Target award, determined as of the date of grant.</footnote>
        <footnote id="F10">The Reporting Person was issued 19,740 RPSUs by NRG under the LTIP on January 3, 2017 that vested on January 3, 2020. On the vesting date the Reporting Person was entitled to receive a maximum of 39,480 shares of Common Stock if the company achieved 100% increase in total shareholder return since the grant date (the &quot;Maximum&quot;), 19,740 shares of Common Stock if there is no change in total shareholder return since the grant date (the &quot;Target&quot;) or 4,935 shares of Common Stock if there is a 25% decrease in total shareholder return since the grant date (the &quot;Threshold&quot;). The Reporting Person would not have received any shares of Common Stock if total shareholder return had decreased by more than 25% since the grant date. The number of shares that the Reporting Person could have received in interpolated for total shareholder return fall between Threshold, Target and Maximum levels. On January 3, 2020 the reporting person vested in 39,480 shares</footnote>
        <footnote id="F11">The Reporting Person elected to satisfy their tax withholding obligation upon the exchange of common stock for RPSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 16,763 shares of common stock to satisfy the grantee's tax withholding obligation.</footnote>
        <footnote id="F12">On January 3, 2017, the Reporting Person was issued 12,603 Restricted Stock Units (&quot;RSUs&quot;) by NRG Energy, Inc. under NRG Energy, Inc.'s Amended and Restated Long Term Incentive Plan. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01. On January 3, 2020, 4,201 shares vested. The Reporting Person elected to satisfy their tax obligation upon the exchange of common stock for RSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 1,321 shares of common stock to satisfy the grantee's tax withholding obligation.</footnote>
        <footnote id="F13">In connection with the vesting of the RSUs described above, 55 DERs vested, resulting in the Reporting Person holding 22 dividend equivalent rights in the aggregate. Dividend equivalent rights accrue on the Reporting Person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.</footnote>
        <footnote id="F14">In connection with the vesting of the RPSUs described above, an incremental 516 DERs vested. Dividend equivalent rights accrue on the Reporting Person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Christine Zoino, by Power of Attorney</signatureName>
        <signatureDate>2020-01-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
