Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 42

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 42
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 driving a lower vesting percentage with respect to the total stockholder return component of the awards. Therefore, the Compensation Committee determined that WEC Energy Group's performance against the P/E ratio measure should not result in a further decrease of the final award.

Unvested performance units generally are immediately forfeited upon a NEO’s cessation of employment prior to completion of the three-year performance period. However, the performance units will vest immediately at the target 100% rate upon the termination of the NEO’s employment (1) by reason of disability or death or (2) after a change in control of WEC Energy Group. In addition, a prorated number of performance units (based upon the target 100% rate) will vest upon the termination of employment of the NEO by reason of retirement prior to the end of the three-year performance period.

For purposes of determining the appropriate number of performance units to grant to a particular NEO, the Compensation Committee used the same values as were used for the 2024 restricted stock grants; $84.621 for the annual grants in January 2024 and $81.663 for the April 1, 2024 grant to Mr. Hooper.

The following table provides the number of performance units granted to each NEO in 2024, at the 100% target level:

| Executive Officer |     | Performance Units Granted |
| Mr. Lauber        |     |                    41,667 |
| Ms. Liu           |     |                    15,910 |
| Ms. Kelsey        |     |                     8,233 |
| Mr. Hooper        |     |                     8,795 |
| Mr. Garvin        |     |                     7,398 |

2024 Payouts under Long-Term Incentive Awards Granted in 2022. The Compensation Committee granted WEC Energy Group performance unit awards to participants in the Prior PUP in 2022. The ultimate vesting amount of the 2022 performance unit awards is dependent upon WEC Energy Group's total stockholder return over the three-year period ending December 31, 2024, as compared to the total stockholder return of the 2022 performance unit peer group which included the following: Alliant Energy Corporation; Ameren Corporation; American Electric Power Company; CMS Energy Corporation; Consolidated Edison; DTE Energy Corporation; Dominion Energy, Inc,; Duke Energy Corp.; Edison International; Evergy, Inc.; Eversource Energy; FirstEnergy Corporation; NiSource, Inc.;