Company: POR
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0000784977-25-000055
Chunk: 31

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 31
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     |                                                                                                                                                                        |     |                                                                                                                                                                                                  |
|                                      |     | Long-Term Equity-Based Incentive Awards |     |                  |     | Equity                                                                                                                                                                                           |     |      |     | Directly aligns executive's pay with long-term value provided to shareholders, and benefits customers by enhancing executive's focus on the Company's long-term goals. |     |                                                                                                                                                                                                  |
|                                      |     |                                         |     |                  |     | Performance-Based Restricted Stock Units (weighted at 70% collectively)                                                                                                                          
 ROE/Allowed ROE                                                                                                                                                                                  
 EPS Growth                                                                                                                                                                                       
 Carbon Reduction                                                                                                                                                                                 
 TSR (used as a modifier)                                                                                                                                                                         |     |      |     |                                                                                                                                                                        |     |                                                                                                                                                                                                  |
|                                      |     |                                         |     |                  |     | Service-Based Restricted Stock Units (weighted at 30% collectively) and vest ratably over three years                                                                                            |     |      |     |                                                                                                                                                                        |     |                                                                                                                                                                                                  |

| 2025 Proxy Statement |     | Portland General Electric|47 |

#### Compensation Discussion and Analysis

#### Performance-Conditioned Compensation
A significant portion of our executives' total direct compensation is tied to Company performance. The following charts show that incentive compensation represented 84% of the 2024 target total direct compensation for our CEO and 71% of the 2024 target total direct compensation for our other named executive officers.

| 2024 Target Direct Compensation for Chief Executive Officer |     |                          |
|                                                             |     | nBase Salary             
 nAnnual Cash Incentive   
 nPSUs                    
 nRSUs                    
 nPerformance-Conditioned |

| 2024 Target Direct Compensation for Named Executive Officers other than the CEO |     |                          |
|                                                                                 |     | nBase Salary             
 nAnnual Cash Incentive   
 nPSUs                    
 nRSUs                    
 nPerformance-Conditioned |

#### Base Salaries
When setting annual base salaries of our named executive officers, the Compensation, Culture and Talent Committee considers market data provided by its independent compensation consultant, internal pay equity, and the Company's financial results relative to peer companies.

The independent members of our Board approved our CEO’s 2024 base salary after receiving a recommendation from the Compensation, Culture and Talent Committee. This determination was based on a comprehensive review of Ms. Pope's performance for 2023.

The Compensation, Culture and Talent Committee considered the recommendations of our CEO and market data before setting the 2024 salaries of our other named executive officers. Base salary recommendations are