Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 332

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 332
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 CEO's performance at the end of a performance period (fiscal year-end).  Results of the assessment are provided to the Committee Chair who, with concurrence of the TVA Board Chair and input from other TVA Board members, determines the CEO's annual performance rating.  The Committee then recommends to the full TVA Board payouts to the CEO under the EAIP.  

Award payouts under the 2025 EAIP are below and are reported in the "Non-Equity Incentive Plan Compensation" column in the Executive Compensation Tables and Narrative Disclosures — Summary Compensation Table.  TVA's achievement against its Enterprise Scorecard is reflected below, as well as individual performance multipliers for each NEO.

In reviewing the 2025 performance period, the TVA Board considered strong performance for SBU Controllable O&M and Base Capital Spend, Serious Injury Incident Rate, and Power Operations Performance Indicator.  The TVA Board also considered advances in TVA’s business development strategy, including securing strategic partnerships with Kairos Power, ENTRA1 Energy, and Oklo Inc.  In addition, slightly below target performance for Transmission Performance Indicator and below threshold performance for External Performance Indicators for the TVA Nuclear Fleet were considered. Below are the EAIP award calculations for this performance period.

2025 EAIP Award CalculationNEOSalary(1)Target EAIP Incentive Opportunity    (% of Salary)(2)Target EAIP PayoutScorecard Results (3)Individual Performance Multiplier("IPM")Actual EAIP Award Payout (4)Donald A. Moul(5)$1,200,000 110%$969,280 145.6%100%$1,411,271 Jeffrey J. Lyash(6)1,227,000 150%1,112,390 114.8%100%1,277,024 Thomas C. Rice(7)705,000 75%379,560 145.6%115%635,536 John M. Thomas, III(8)937,881 80%342,172 145.6%100%498,202 Matthew M. Rasmussen(9)668,000 60%297,738 145.6%100%433,507 Rebecca C. Tolene(10)665,000 70%229,994 145.6%100%334,872 Jeremy P. Fisher(11)500,000 60%228,288