16 results
DEF 14A
NWE
NorthWestern Energy Group, Inc.
6 Mar 24
Definitive proxy
2:58pm
Our executive pay program is designed to align the long-term interests of our executives, shareholders, and customers. For many years, the program has consisted of four components (base salary, annual cash incentive, long-term equity incentive, and executive retirement equity awards). In 2023, we made two changes to our pay program. First, we updated our long-term equity incentive awards, which now are split 70/30 between performance share units with a three-year performance period and restricted share units with a three-year restricted period. Previously, such awards were 100 percent performance share units with a three-year performance period. Second, we discontinued our executive retirement equity awards and intend to replace such awards in 2024 with a more traditional supplemental executive retirement contribution. These changes better align our executive pay program with our peers and the market. The full design of our compensation program and its components are detailed in the Compensation Discussion and Analysis , beginning on page 18 .
Percent of Total Compensation | |||||||||||
Component | Description | CEO | Other NEO Avg. | ||||||||
Base Salary Fixed, paid in cash | Target middle of competitive range of peer group, with adjustments for trade area economics, turnover, tenure, and experience | 25% | 44% | ||||||||
Annual Cash Incentive Variable, paid in cash | Based on net income, safety, reliability, and customer satisfaction metrics and individual performance | 25% | 22% | ||||||||
Long-Term Incentive Program Award Variable or at risk, paid in equity | 70 percent performance share units, based on EPS, ROAE and relative TSR performance over a three-year performance period and 30 percent restricted share units vesting over a three-year restricted period. | 50% | 34% |
DEF 14A
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6 Mar 24
Definitive proxy
2:58pm
DEF 14A
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6 Mar 24
Definitive proxy
2:58pm
DEF 14A
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6 Mar 24
Definitive proxy
2:58pm
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