Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 69

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 69
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 benefit would have been if calculated without regard to any limitation imposed by the broad-based plan on annual compensation recognized thereunder.

| Wisconsin Electric Power Company |     | 35 |     | 2025 Annual Meeting Information Statement |

NEOs are also entitled to the value of unused vacation days, if any, and for termination by death, benefits payable under the officer life insurance benefit if the NEO participates in such benefit.

#### Payments Made Upon Normal Retirement
In the event of the retirement of a NEO, the officer will receive:

• accrued but unpaid base salary and prorated annual incentive compensation;

• full vesting in all outstanding stock options and a prorated amount of performance units;

• full vesting in all retirement plans, including the WEC Energy Group Plan, SERP, and, with respect to Mr. Garvin, his ILA (Ms. Liu would be entitled to full vesting of her retirement income supplement;

• WEC Energy Group 401(k) plan and EDCP account balances and, with respect to Mmes. Liu and Kelsey, and Mr. Hooper, their Non-Qualified Retirement Savings Plan balances; and

• the value of unused vacation days, if any.

Payments Made Upon Termination of Employment in Connection with a Change in Control of WEC Energy Group

Pursuant to the terms of the SPP, retirement benefits are paid to all participating NEOs upon termination of employment within 18 months of a change in control.

Pursuant to the terms of the WEC Energy Group Omnibus Stock Incentive Plan, amended and restated effective as of May 6, 2021, in the event the NEO's termination of employment occurs within 24 months following a change in control:

• all outstanding stock options will vest and become immediately exercisable, and

• all unvested shares of restricted stock will vest as of the date of termination.

Pursuant to the terms of the WEC Energy Group Performance Unit Plan, amended and restated effective as of January 1, 2023, in the event an NEO’s employment is terminated after a change in control without cause or by the NEO for good reason, all unvested performance units will vest immediately at the target 100% rate.

#### Payments under the Severance Pay Plan
None of the NEOs have entered into an agreement that provides for severance benefits upon a change in control or otherwise. These officers are eligible to participate in WEC Energy Group’s Severance Pay Plan, in which