Company: SOJE
Filing Date: 2025-03-31
Form Type: PRE 14A
Source: 0000092122-25-000032
Chunk: 61

Company: SOUTHERN CO
Filing Date: 2025-03-31
Form: PRE 14A
Chunk 61
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 plan where we can make contributions that are prohibited to be made under the ESP due to limits under the tax code.

4 Pension Benefits : Substantially all employees participate in a funded Pension Plan. Normal retirement benefits become payable when participants attain age 65. The Company also provides unfunded benefits to certain employees, including the NEOs, under two nonqualified plans: the Supplemental Benefit Plan (Pension-Related) (SBP-P) and the Supplemental Executive Retirement Plan (SERP). The SBP-P and the SERP provide additional benefits the Pension Plan cannot pay due to limits applicable to the Pension Plan.

4 Deferred Compensation Benefits : We offer a Deferred Compensation Plan (DCP), which is an unfunded plan that permits participants to defer income as well as certain federal, state and local taxes until a specified date or their retirement, disability, death or other separation from service.

Change-in-Control Protections

4 We believe that change-in-control protections allow management to focus on potential transactions that are in the best interest of our stockholders.

4 Change-in-control protections include severance pay and, in some situations, vesting or payment of incentive awards.

4 We provide certain severance payments if there is a change in control of the Company and a termination of the executive’s employment (either involuntary termination not for cause or voluntary termination for good reason), often called a “double trigger”.

4 Severance payment for the CEO is three times the sum of base salary plus PPP opportunity (either at target or, if greater, paid out based on the average achievement from the three prior fiscal years). For the other NEOs, severance is two times the sum of base salary plus PPP opportunity (either at target or, if greater, paid out based on the average achievement from the three prior fiscal years). No excise tax gross-up would be provided.

Perquisites

4 We provide limited perquisites to our executive officers, consistent with the Company’s goal of providing market-based compensation and benefits.

4 The Committee recognizes that permitting limited personal use of system aircraft for certain executives allows them to continue to perform their duties in a safe, secure environment and promotes safe and effective use of their time. For 2024, the Committee approved personal use of system aircraft for Mr. Womack. Amounts are included in the Summary Compensation Table.

4 No tax assistance is provided on executive perquisites to executive officers of the Company, except on certain relocation-related benefits that are generally available to all employees.

#### Compensation Governance

#### Equitable Compensation for all Employees