SECURITIES AND EXCHANGE COMMISSION
☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2022
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
FOR THE TRANSITION PERIOD FROM TO
Commission File Number of Issuing Entity:
Central Index Key Number of Issuing Entity:
0001826571
(Exact name of Issuing Entity as specified in its Charter)
Southern California Edison Company
(Exact name of Depositor and Sponsor as specified in its Charter)
Commission File Number of Depositor:
Central Index Key Number of Depositor: 0000092103
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(State or other jurisdiction of incorporation or organization of Issuing Entity) | | Identification No. of Issuing Entity) |
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Rosemead, California 91107 | | |
(Address and zip code of principal executive offices of Issuing Entity) | | (Registrant’s telephone number, including area code of Issuing Entity) |
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☐ NO ☒
Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES ☐ NO ☒
Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ☒ NO ☐
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of
Regulation S-T
(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YES ☐ NO ☐
NOT APPLICABLE ☒
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule
12b-2
of the Exchange Act.
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Large accelerated filer | | ☐ | | Accelerated filer | | ☐ |
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Non-accelerated filer | | ☒ | | Smaller reporting company | | ☐ |
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Emerging growth company | | ☐ | | | | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.
☐
Indicate by check mark whether the Registrant is a shell company (as defined in Rule
12b-2
of the Exchange Act). YES ☐ NO
☒
The aggregate market value of the member’s equity held by
non-affiliates
of the Registrant as of June 30, 2021:
None.
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Auditor name: PricewaterhouseCoopers LLP | | Auditor Firm ID: 238 | | Auditor Location: Los Angeles, California |
DOCUMENTS INCORPORATED BY REFERENCE
| Directors, Executive Officers and Corporate Governance. |
The following are the managers of the Issuing Entity as of the date of this Annual Report on
Form 10-K:
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Name | | Age | | Background |
Aaron D. Moss | | 53 | | President and Manager of the Issuing Entity since April 2022. Senior Vice President and Chief Financial Officer, Southern California Edison Company (“SCE” or “Servicer”). From October 2017 to July 2021, Aaron was Vice President and Controller of SCE. From March 2016 to April 2022, Aaron was Vice President and Controller of SCE’s parent, Edison International. In April 2022, Aaron was promoted to Senior Vice President and Chief Financial Officer of SCE. |
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Natalia Woodward | | 54 | | Manager and Vice President and Treasurer of the Issuing Entity since September 2020. Vice President and Treasurer, SCE. From September 2014 to February 2016, Natalia Woodward was Director of Risk Management. She returned to SCE in October 2016 as Director of Financial Planning & Analysis and in October 2019, Natalia was promoted to Vice President & Treasurer of SCE. |
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Sean L. Emerick | | 56 | | Independent Manager of the Issuing Entity since September 2020. Director, Special Services, CT Corporation System. From 2007 to 2011, Sean was the Vice President and General Manager of NRAI Corporate Services. From 2011 to 2014 he was Regional Service Manager, Special Services for CT Corporation. Sean has been a Director, Special Services for CT Corporation from 2014 to present. |
SCE Recovery Funding LLC is a wholly owned subsidiary of SCE, which in turn is a wholly owned subsidiary of Edison International. The Edison International Employee Code of Conduct is applicable to all officers and employees of Edison International and its subsidiaries. The Code is available on Edison International’s Internet website at www.edisoninvestor.com at “Corporate Governance.” Any amendments or waivers of Code provisions for the Company’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, will be posted on Edison International’s Internet website at www.edisoninvestor.com.
Other than the annual independent manager fee of $2,500 paid to CT Corporation, SCE Recovery Funding LLC does not pay any compensation to its managers or executive officers.
| Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. |
None.
| Certain Relationships and Related Transactions, and Director Independence. |
Manager Sean Emerick is an independent manager and an employee of CT Corporation Staffing, Inc.
| Principal Accounting Fees and Services. |
Omitted pursuant to General Instruction J of Form
10-K.