Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | UNITIL CORPORATION |
Entity Central Index Key | 0000755001 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance The table below shows the information specified in Item 402(v) of Regulation S-K PAY VERSUS PERFORMANCE Year Summary for CEO (1) Compensation (2) Average Non-CEO NEOs (3) Average Non-CEO NEOs (2)(3) Value of Initial Fixed $100 Net Income Earnings Per Total (4) Peer Group (4) (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 $1,488,255 $1,658,803 $531,450 $556,598 $91.49 $120.09 $41.4 $2.59 2021 $2,426,750 $2,224,626 $578,575 $565,779 $79.47 $118.24 $36.1 $2.35 2020 $3,977,630 $1,416,063 $627,418 $425,236 $74.06 $100.48 $32.2 $2.15 (5) NOTES: (1) Mr. Meissner was the CEO for each of 2020, 2021 and 2022. (2) SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine “compensation actually paid” as reported in the Pay versus Performance Table. Compensation actually paid (“CAP”) does not necessarily represent cash and/or equity value transferred to the applicable Named Executive Officer without restriction, but rather is a value calculated under applicable SEC rules. In general, CAP is calculated as Summary Compensation Table total compensation adjusted to include the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date), as well as an adjustment subtracting the change in pension value as of December 31 and adding the actuarially determined service cost for services rendered by the Named Executive Officer, if applicable, during the covered fiscal year. The following table details these adjustments: COMPENSATION ACTUALLY PAID Year Executive(s) Summary Adjusted Equity Summary Table: Non-Equity Change in (6) Summary Total (a) (b) (c) (d) € (f) (g) (h) 2022 CEO $645,214 $170,548 $521,564 — $321,477 $1,658,803 2022 Non-CEO NEOs $300,546 $ 24,995 $142,078 — $ 88,979 $ 556,598 2021 CEO $620,398 $652,071 $466,162 $342,315 $143,680 $2,224,626 2021 Non-CEO $261,300 $ 88,533 $117,920 $ 26,413 $ 71,614 $ 565,779 2020 CEO $597,740 ($51,818) $314,710 $273,810 $281,621 $1,416,063 2020 Non-CEO $209,913 $ 10,915 $ 61,865 $ 29,926 $112,617 $ 425,236 NOTES, continued: (3) In 2022, the other Named Executive Officers were Mr. Hevert, Mr. Black, Mr. Eisfeller and Mr. LeBlanc. In 2021, the other Named Executive Officers were Mr. Hevert, Mr. Black, Mr. Eisfeller, Mr. LeBlanc, and Laurence M. Brock. Mr. Brock retired from the Company in July 2021. In 2020, the other Named Executive Officers were Mr. Hevert, Mr. Black, Mr. LeBlanc, Mr. Brock, and Christine Vaughan. Ms. Vaughan resigned from the Company in March 2020. (4) TSR is determined based on the value of an initial fixed investment of $100. The TSR peer group consists of the S&P 500 Utilities Index. Source of data: S&P Dow Jones Indices LLC. (5) Actual EPS in 2020 was $2.15. The Compensation Committee made a discretionary $0.09 adjustment for compensation decisions for 2020 to account for management’s performance in light of the financial impact of the COVID-19 (6) All values shown reflect the pension service cost in the applicable year. | ||
Company Selected Measure Name | EPS | ||
Named Executive Officers, Footnote [Text Block] | In 2022, the other Named Executive Officers were Mr. Hevert, Mr. Black, Mr. Eisfeller and Mr. LeBlanc. | In 2021, the other Named Executive Officers were Mr. Hevert, Mr. Black, Mr. Eisfeller, Mr. LeBlanc, and Laurence M. Brock. | In 2020, the other Named Executive Officers were Mr. Hevert, Mr. Black, Mr. LeBlanc, Mr. Brock, and Christine Vaughan. |
Peer Group Issuers, Footnote [Text Block] | TSR is determined based on the value of an initial fixed investment of $100. The TSR peer group consists of the S&P 500 Utilities Index. Source of data: S&P Dow Jones Indices LLC. | ||
PEO Total Compensation Amount | $ 1,488,255 | $ 2,426,750 | $ 3,977,630 |
PEO Actually Paid Compensation Amount | $ 1,658,803 | 2,224,626 | 1,416,063 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine “compensation actually paid” as reported in the Pay versus Performance Table. Compensation actually paid (“CAP”) does not necessarily represent cash and/or equity value transferred to the applicable Named Executive Officer without restriction, but rather is a value calculated under applicable SEC rules. In general, CAP is calculated as Summary Compensation Table total compensation adjusted to include the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date), as well as an adjustment subtracting the change in pension value as of December 31 and adding the actuarially determined service cost for services rendered by the Named Executive Officer, if applicable, during the covered fiscal year. The following table details these adjustments: COMPENSATION ACTUALLY PAID Year Executive(s) Summary Adjusted Equity Summary Table: Non-Equity Change in (6) Summary Total (a) (b) (c) (d) € (f) (g) (h) 2022 CEO $645,214 $170,548 $521,564 — $321,477 $1,658,803 2022 Non-CEO NEOs $300,546 $ 24,995 $142,078 — $ 88,979 $ 556,598 2021 CEO $620,398 $652,071 $466,162 $342,315 $143,680 $2,224,626 2021 Non-CEO $261,300 $ 88,533 $117,920 $ 26,413 $ 71,614 $ 565,779 2020 CEO $597,740 ($51,818) $314,710 $273,810 $281,621 $1,416,063 2020 Non-CEO $209,913 $ 10,915 $ 61,865 $ 29,926 $112,617 $ 425,236 | ||
Non-PEO NEO Average Total Compensation Amount | $ 531,450 | 578,575 | 627,418 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 556,598 | 565,779 | 425,236 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (2) SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine “compensation actually paid” as reported in the Pay versus Performance Table. Compensation actually paid (“CAP”) does not necessarily represent cash and/or equity value transferred to the applicable Named Executive Officer without restriction, but rather is a value calculated under applicable SEC rules. In general, CAP is calculated as Summary Compensation Table total compensation adjusted to include the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date), as well as an adjustment subtracting the change in pension value as of December 31 and adding the actuarially determined service cost for services rendered by the Named Executive Officer, if applicable, during the covered fiscal year. The following table details these adjustments: COMPENSATION ACTUALLY PAID Year Executive(s) Summary Adjusted Equity Summary Table: Non-Equity Change in (6) Summary Total (a) (b) (c) (d) € (f) (g) (h) 2022 CEO $645,214 $170,548 $521,564 — $321,477 $1,658,803 2022 Non-CEO NEOs $300,546 $ 24,995 $142,078 — $ 88,979 $ 556,598 2021 CEO $620,398 $652,071 $466,162 $342,315 $143,680 $2,224,626 2021 Non-CEO $261,300 $ 88,533 $117,920 $ 26,413 $ 71,614 $ 565,779 2020 CEO $597,740 ($51,818) $314,710 $273,810 $281,621 $1,416,063 2020 Non-CEO $209,913 $ 10,915 $ 61,865 $ 29,926 $112,617 $ 425,236 | ||
Tabular List [Table Text Block] | 2022 Performance Measures Most Important Performance Measures Financial Earnings Per Share O&M Cost Per Customer Safety and Reliability Electric Distribution Reliability Time Customer Engagement Customer Satisfaction | ||
Total Shareholder Return Amount | $ 91.49 | 79.47 | 74.06 |
Peer Group Total Shareholder Return Amount | 120.09 | 118.24 | 100.48 |
Net Income (Loss) | $ 41,400,000 | $ 36,100,000 | $ 32,200,000 |
Company Selected Measure Amount | 2.59 | 2.35 | 2.15 |
PEO Name | Mr. Meissner | Mr. Meissner | Mr. Meissner |
Adjustment for Compensation | $ 0.09 | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Financial | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Safety and Reliability | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Customer Engagement | ||
PEO [Member] | Base Salary [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 645,214 | $ 620,398 | 597,740 |
PEO [Member] | Adjusted Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 170,548 | 652,071 | (51,818) |
PEO [Member] | NonEquity Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 521,564 | 466,162 | 314,710 |
PEO [Member] | Change in Pension Value or Service Cost [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 342,315 | 273,810 |
PEO [Member] | All Other Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 321,477 | 143,680 | 281,621 |
Non-PEO NEO [Member] | Base Salary [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 300,546 | 261,300 | 209,913 |
Non-PEO NEO [Member] | Adjusted Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 24,995 | 88,533 | 10,915 |
Non-PEO NEO [Member] | NonEquity Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 142,078 | 117,920 | 61,865 |
Non-PEO NEO [Member] | Change in Pension Value or Service Cost [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 26,413 | 29,926 |
Non-PEO NEO [Member] | All Other Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 88,979 | $ 71,614 | $ 112,617 |