Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 309

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 309
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 Named Executive Officers ("NEOs") for 2026.  (Biographical information for each is set out in Item 10, Directors, Executive Officers, and Corporate Governance.)  The following sets forth salary increases and incentive awards granted for 2026, effective October 1, 2025:

Thomas C. Rice

•Salary increased from $705,000 to $729,675.

•EAIP target increased from 75 percent of base salary to 80 percent of base salary.

•LTP grant of $1,355,000, which will vest on September 30, 2028.

•LTR grant of $579,000, which will vest in three equal increments on September 30, 2026, September 30, 2027, and September 30, 2028.

Rebecca C. Tolene

•Salary increased from $665,000 to $688,275.

•LTP grant of $933,000, which will vest on September 30, 2028.

•LTR grant of $402,000, which will vest in three equal increments on September 30, 2026, September 30, 2027, and September 30, 2028.

Matthew M. Rasmussen

•Salary increased from $668,000 to $691,380.

•LTP grant of $788,000, which will vest on September 30, 2028.

•LTR grant of $339,000, which will vest in three equal increments on September 30, 2026, September 30, 2027, and September 30, 2028.

Jeremy P. Fisher

•Salary increased from $500,000 to $517,500.

•EAIP target increased from 60 percent of base salary to 70 percent of base salary.

•LTP grant of $452,000, which will vest on September 30, 2028.

•LTR grant of $195,000, which will vest in three equal increments on September 30, 2026, September 30, 2027, and September 30, 2028.

In addition, on November 6, 2025, Donald A. Moul approved a discretionary contribution of $80,000 under the Restoration Plan for Timothy S. Rausch. 

No adjustments were made to any other existing elements of compensation for these NEOs for 2026.

Amendments to Long-Term Incentive Plan and Restoration Plan