Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 98

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 98
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, which is equal to approximately 43 million shares of the Corporation’s common stock. The maximum aggregate number of shares available for purchase under the ESPP as provided in the immediately-preceding sentence will be subject to certain antidilution adjustments in the event of a change in the Corporation’s corporate structure, extraordinary distribution or change in the number of issued shares of the Corporation’s common stock, such as a forward or reverse share split, subdivision or consolidation, or share dividend or bonus issue. And such adjustments shall be determined by the People and Compensation Committee.

Administration. The ESPP will be administered by the People and Compensation Committee. The People and Compensation Committee has the authority to construe, interpret and apply the terms of the ESPP, to determine eligibility, to establish such limitations and procedures as it determines are consistent with the ESPP and to adjudicate any disputed claims under the ESPP.

Eligibility. Each full-time employee, including officers, employee directors, and employees of participating subsidiaries, who is employed by the Corporation on the day preceding the start of any offering period, and has been so employed for at least one year prior to any such offering period, will be eligible to participate in the ESPP. As of March 24, 2025, there are currently approximately 26,200 employees who would be eligible to participate in the ESPP. The ESPP will permit an eligible employee to purchase shares of the Corporation’s common stock through payroll deductions, which may not be less than 1% nor more than 15% of the employee’s compensation, or such lower limit as may be determined by the People and Compensation Committee from time to time. Unless provided otherwise by the People and Compensation Committee prior to the commencement of an offering, in no event will a participant be eligible to purchase during any offering period more than 5,000 shares of the Corporation’s common stock. In addition, under applicable tax rules, no employee is permitted to accrue, under the ESPP and all of the Corporation’s or its subsidiaries’ similar purchase plans, a right to purchase shares having a fair market value in excess of twenty-five thousand dollars ($25,000) (determined at the time the right is granted) for each calendar year. Employees will be able to withdraw their accumulated payroll deductions prior to the end of the offering period in accordance with the terms of the offering. Participation in the ESPP will end automatically on termination of employment.

Offering Periods and Purchase Price. The ESPP will be implemented through a series of offerings of