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DEF 14A
NorthWestern Energy Group, Inc.
6 Mar 24
Definitive proxy
2:58pm
Based on the calculation of these performance measures, the 2021 LTIP performance unit grants vested at 27.5 percent. The table below sets forth the results with respect to each of the performance measures applicable to the 2021 LTIP performance share unit grants and the corresponding contributions to the vesting percentage.
| Performance Measures — 2021-2023 | Result | Weight | Vesting | ||||||||
| Financial Goals – ROAE and Simple Avg. EPS Growth | — | 50.0 | % | — | % | ||||||
| Market Goal – TSR | 55.0 | % | 50.0 | % | 27.5 | % | |||||
| TOTAL | 27.5 | % | |||||||||
DEF 14A
NorthWestern Energy Group, Inc.
6 Mar 24
Definitive proxy
2:58pm
For the remaining outstanding grants of LTIP performance share units, LTIP restricted share units, ERRP restricted share units, and CEO promotion restricted share units, the table below and continuing on the following page shows the original grants, the percentage of the original grants that would vest, and the vesting value of those grants, assuming (a) the applicable NEO terminated his or her employment as a result of death, disability or retirement on December 31, 2023, (b) the applicable goals for such performance units were subsequently satisfied at target levels, and (c) the price of the Company's Common Stock was $50.89 (the closing price on December 29, 2023) at the time payouts of such performance units and restricted share units occurred.
| Future Vesting Date | Assumed 12/31/23 Death / Disability | Assumed 12/31/23 Retirement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Original Grant (#) | Percent to Vest (%) | Vesting Value ($) (1) | Original Grant (#) | Percent to Vest (%) | Vesting Value ($) (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brian Bird | President and Chief Executive Officer | 2023 LTIP RSU | 12/31/2025 | 9,355 | 100.0 | % | 476,076 | 9,355 | — | % | — | 2023 LTIP PSU | 12/31/2025 | 9,138 | 33.3 | % | 340,148 | 20,052 | 33.3 | % | 340,148 | 2022 ERRP | 12/31/2027 | 4,927 | 100.0 | % | 250,735 | 4,927 | 20.0 | % | 50,147 | CEO Promo Grant | (2) | 12/13/2026 | 7,952 | 100.0 | % | 404,677 | 7,952 | 25.0 | % | 101,169 | CEO Promo Grant | (2) | 12/13/2025 | 7,953 | 100.0 | % | 404,728 | 7,953 | 33.0 | % | 133,560 | 2022 LTIP PSU | 12/31/2024 | 13,563 | 67.0 | % | 462,448 | 13,563 | 67.0 | % | 462,448 | 2021 ERRP | 12/31/2026 | 3,465 | 100.0 | % | 176,334 | 3,465 | 40.0 | % | 70,534 | 2020 ERRP | 12/31/2025 | 2,587 | 100.0 | % | 131,652 | 2,587 | 60.0 | % | 78,991 | 2019 ERRP | (3) | 12/31/2024 | 1,849 | 100.0 | % | 94,096 | 1,849 | 80.0 | % | 75,276 | TOTAL | $ | 2,740,895 | TOTAL | $ | 1,312,275 | Crystal Lail | Vice President and Chief Financial Officer | 2023 LTIP RSU | 12/31/2025 | 2,774 | 100.0 | % | 141,169 | 2,774 | — | % | — | 2023 LTIP PSU | 12/31/2025 | 2,709 | 33.3 | % | 100,847 | 5,945 | 33.3 | % | 100,847 | 2022 ERRP | 12/31/2027 | 2,631 | 100.0 | % | 133,892 | 2,631 | 20.0 | % | 26,778 | 2022 LTIP PSU | 12/31/2024 | 7,266 | 67.0 | % | 247,744 | 7,266 | 67.0 | % | 247,744 | 2021 ERRP | 12/31/2026 | 2,166 | 100.0 | % | 110,228 | 2,166 | 40.0 | % | 44,091 | 2020 ERRP | 12/31/2025 | 1,260 | 100.0 | % | 64,121 | 1,260 | 60.0 | % | 38,473 | 2019 ERRP | (3) | 12/31/2024 | 638 | 100.0 | % | 32,468 | 638 | 80.0 | % | 25,974 | TOTAL | $ | 830,468 | TOTAL | $ | 483,907 | Shannon Heim | General Counsel and Vice President, Federal Gov't Affairs | 2023 LTIP RSU | 12/31/2025 | 1,330 | 33.0 | % | 22,336 | 1,330 | 33.0 | % | 22,336 | 2023 LTIP PSU | 12/31/2025 | 1,299 | 33.3 | % | 48,362 | 2,851 | 33.3 | % | 48,362 | 2021 ERRP | 12/31/2026 | 787 | 66.7 | % | 26,714 | 787 | 66.7 | % | 26,714 | TOTAL | $ | 97,412 | TOTAL | $ | 97,412 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DEF 14A
NorthWestern Energy Group, Inc.
6 Mar 24
Definitive proxy
2:58pm
In February 2021, the Compensation Committee approved grants of LTIP performance share units, subject to a three-year performance period. The 2021 LTIP performance share unit grants vested on December 31, 2023. The performance goals were independent of each other and equally weighted. The table below summarizes the performance measures which governed these 2021 grants.
| Performance Measures — 2021-2023 | Threshold | Target | Maximum | Actual | Financial Goals – 50% | ROAE | 8.05 | % | 8.50 | % | 8.95 | % | 7.71 | % | Simple Average EPS Growth | 6.0 | % | 8.5 | % | 11.0 | % | 2.2 | % | Market Goal – 50% | Relative TSR Average vs. Peers | 13th | 6th | 1st | 9th | |||||||||||||||||||||||||||||||||||||||||||||
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