NRG Energy Inc. (NRG) said Thursday it's not obligated to hold its annual shareholders meeting 13 months after the last one.

The meeting has become a key date in Exelon Corp.'s (EXC) $5.15 billion hostile takeover bid for the company. Exelon has proposed expanding NRG Energy's board and adding its own members at the meeting.

During a conference call with analysts, NRG Chief Executive David Crane said his understanding is the company isn't obligated to hold the annual meeting by a certain date, but shareholders can petition in court to set a date if the meeting isn't held in the 13-month period. NRG held its annual shareholders meeting last year on May 14.

Crane said NRG Energy's board will decide in the coming weeks on the meeting. Members will balance holding it as soon as possible with assuring the meeting happens at a time when shareholders can be fully informed, he added.

NRG shares recently rose 68 cents, or 4%, at $17.86.

-By Mark Peters, Dow Jones Newswires; 201-938-4604; mark.peters@dowjones.com