Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 20

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 20
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 compensation program, the purposes and objectives of these elements, and the manner in which we established the compensation of our named executive officers ("NEOs") for fiscal year 2024.

References to “we,” “us,” “our,” and the "Company," in this discussion and analysis mean Wisconsin Electric Power Company and its management, as applicable, and references to “WEC Energy Group” mean WEC Energy Group, Inc.

The Compensation Committee oversees the compensation program of WEC Energy Group and its subsidiaries, including the Company, on behalf of WEC Energy Group’s Board of Directors. Therefore, the Compensation Committee has responsibility for making compensation decisions regarding the NEOs of the Company. There is significant overlap between the NEOs of the Company and the NEOs of WEC Energy Group.

### EXECUTIVE SUMMARY

### Overview
The primary objective of our executive compensation program is to provide a competitive, performance-based plan that enables WEC Energy Group and the Company to attract and retain key individuals and to reward them for achieving both WEC Energy Group’s and the Company’s short-term and long-term goals without creating an incentive for our NEOs to take excessive risks. Our program has been designed to provide a level of compensation that is strongly dependent upon the achievement of short-term and long-term goals that are aligned with the interests of WEC Energy Group’s and the Company's stockholders and customers. To that end, a substantial portion of pay is at risk, and generally, the value will only be realized upon strong corporate performance.

WEC Energy Group also values the input of its stockholders and recognizes the desire by some for companies to link non-financial performance factors to compensation. Since 2004, performance metrics have included operational and social metrics, including those related to customer satisfaction, safety, and supplier and workforce diversity. In addition, WEC Energy Group's financial metrics are closely aligned with its environmental goals and initiatives as it continues its energy transition.

### 2024 Business Highlights
During 2024, WEC Energy Group and its utilities, including us, achieved solid results and continued to create long-term value for stockholders and customers by focusing on the following:

| •     World-class reliability |     | •     Operating efficiency      |     | •     Employee safety           |
| •     Financial discipline    |     | •     Exceptional customer care |     | •     Environmental stewardship |

Commitment to Stockholder Value Creation. In 2024, WEC Energy Group again delivered solid earnings growth, generated strong cash flow, and