Company: DTK
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000936340-25-000081
Chunk: 58

Company: DTE ENERGY CO
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 58
---
arily terminated under specified circumstances.Separately, the Company has entered into an employment agreement with Mr. Norcia, whereby he is eligible for benefits including severance pay, bonus payment, restricted and performance share payout, and health and welfare benefits if he resigns for good reason (including demotion, involuntary relocation, or reduction in salary) or is terminated without cause (with "cause" defined as conviction of a crime, commission of fraud, material violation of Company policy, or conduct that results in material harm to the Company). The important terms of, and the potential payments provided under, the change-in-control agreements, the Executive Severance Plan, and Mr. Norcia’s employment agreement are described beginning on page 58.

#### Stock Ownership Policy
Our principles for ownership of stock ensure that the executives and other employees have a vested interest in the financial health, management and success of the Company. We expect most executives and certain other employees to own, within five years of their appointment to such position, shares of our stock having a value equal to a multiple of their annual base salaries. Common stock, time-based restricted stock, phantom stock and unvested performance shares (assuming achievement of target levels of performance) are counted toward the fulfillment of this ownership requirement. The following are the requirements for the Named Executive Officers: (i) for Mr. Norcia, five times his base salary; (ii) for Messrs. Ruud and Lauer, and Ms. Harris, four times their respective base salaries; (iii) for Mr. Stiers, three times his base salary. Other executives and employees may be required to hold from one to three times their base salaries as determined by their executive group level within the Company. As of December 31, 2024, 100% of the Named Executive Officers and all of the other required employees who have served in their position for at least five years have met the stock ownership guidelines.

Internal Revenue Code Limits on Deductibility of Compensation

Section 162(m) of the Internal Revenue Code of 1986 places an annual limit of $1 million on the amount of compensation we can deduct as a business expense on our federal income tax return with respect to certain covered employees, generally including our NEOs. Statutory changes to Section 162(m) effective for compensation paid after December 31, 2017 significantly reduced the Company’s ability to deduct compensation in excess of $1 million paid to each covered employee.

#### 48DTE ENERGY2025 PROXY STATEMENT
The O&C