Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 587

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 11
Chunk 587
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 In addition, pursuant to discretion granted under the TVA Compensation Plan and EAIP, awards may be further adjusted by the TVA Board in its discretion.  There is no guaranteed minimum payout under the EAIP, and the maximum payout for the EAIP cannot exceed 225 percent of the target award for all participants other than the retired CEO.  For the retired CEO, the maximum payout cannot exceed 150 percent of the target award.

EAIP Target Incentive Opportunity.  Following a review of benchmarking and individual performance, the TVA Board evaluated the appropriateness of the EAIP award opportunity for the retired CEO based on market data and other individual factors and made no changes for 2025.  Similarly, the retired CEO evaluated the appropriateness of the EAIP award opportunities for the other NEOs based on market data and other individual factors, including internal equity, and made no changes for 2025.  Incentive opportunities for Mr. Moul, Mr. Rice, Ms. Tolene, and Mr. Fisher increased during the year as a result of their promotions.  Accordingly, target EAIP award opportunities associated with the NEO's last position held in 2025 were as follows:

NEO2025 EAIP Target IncentiveOpportunity(1)Donald A. Moul110%Jeffrey J. Lyash 150%Thomas C. Rice75%John M. Thomas, III 80%Matthew M. Rasmussen 60%Rebecca C. Tolene 70%Jeremy P. Fisher 60%Timothy S. Rausch70%David B. Fountain 70%

Note

(1)  Represents the Target Incentive Opportunity associated with the NEO's last position held in 2025 and represents a percent of each NEO's salary.

2025 EAIP Performance Measures.  EAIP performance measures tie directly to key enterprise metrics used by senior management in TVA's annual budget and strategic planning process, which in turn link directly to the achievement of TVA's mission and strategic priorities.  The 2025 EAIP performance measures and the reasons for using these measures are described in the table below.  

Performance MeasureWhy is this Measure Used?SBU Controllable O&M and Base Capital SpendTo maintain financial health while funding TVA’s energy transition.Transmission Performance IndicatorTo advance TVA’s grid capabilities to increase flexibility for future additions and to meet the reliability and resiliency needs of the future.Nuclear Performance Indicator To achieve the nation’s top nuclear