Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 497

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 5
Chunk 497
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 response events.  

(3)  Energy Program MW tracks the amount of MW to be reduced from the system from active demand response program contracts, demand response participant load reductions since the last power supply plan submission, and energy efficiency projects and their cumulative peak demand reductions.  

(4)  Energy Program GWh tracks the amount of GWh reduced from the system from TVA-influenced energy efficiency projects and the energy reductions achieved during demand response events.  

(5)  Traditional Carbon-Free MW Added represents the incremental MW added through planned carbon-free generation asset additions and upgrades or uprates for existing carbon-free generation assets in the TVA fleet. 

Compensation Adjustments

Chief Financial Officer ("CFO")

On July 24, 2025, Chief Executive Officer ("CEO") Don Moul notified Tom Rice that his title would be changing to Executive Vice President and CFO effective July 28, 2025, and that he would be entitled to the following compensation in connection with this change: 

•Mr. Rice’s annual salary will be $705,000.

•Mr. Rice’s target annual incentive opportunity under the EAIP will remain unchanged at 75 percent of his annual salary.

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•Mr. Rice will continue to be a participant in TVA’s LTIP.

–Under the long-term performance (“LTP”) component of the LTIP, Mr. Rice will receive a LTP grant of $1,302,000 for the three-year performance cycle ending on September 30, 2026, and a LTP grant of $1,302,000 for the three-year performance cycle ending on September 30, 2027.  These grants will replace the grants that were previously awarded to Mr. Rice for these performance cycles.  Mr. Rice’s LTP grant for the three-year performance cycle ending on September 30, 2025, will remain unchanged. 

–Under the long-term retention (“LTR”) component of the LTIP, Mr. Rice will receive an LTR grant in the amount of $393,666 for the three-year period ending on September 30, 2026, and an LTR grant in the amount of $558,000 for the three-year period ending on September 30, 2027.   These grants will replace the grants that were previously awarded to Mr. Rice for these periods.  Mr. Rice