Company: POR
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0000784977-25-000055
Chunk: 33

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 33
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 Delight, and Distribution and Generation Reliability. In addition, the Compensation Culture and Talent Committee selected three equally weighted strategic initiative goals: elevate customer engagement, advance grid readiness and drive enterprise operational excellence. The Compensation Culture and Talent Committee included two Culture goals: Employee Engagement and Diversity, which was divided into Leadership Diversity and Supplier Diversity. For each category the Compensation, Culture and Talent Committee assigned a target score and potential score range reflecting the relative weight given the goal category. Specific quantitative scores were set for goals that comprised most of the target score.

The formula for calculating awards under our 2024 ACI Program is shown below:

| AWARD EARNED |     | = |     | TARGET AWARD |     | X |     | FINANCIAL PERFORMANCE % 
 X 40%                   |     | + |     | OPERATING PERFORMANCE % 
 X 25%                   |     | + |     | STRATEGIC INITIATIVE PERFORMANCE % 
 X 25%                              |     | + |     | CULTURE X 10% |

Under the formula above, award payouts are determined by multiplying each officer’s target award by a “performance percentage” based on the achievement of financial, operating, strategic initiative and culture goals during the year.

| 2025 Proxy Statement |     | Portland General Electric|49 |

#### Compensation Discussion and Analysis
Unless the threshold goal is achieved for a performance measure, there is no payout for that performance measure. The Compensation, Culture and Talent Committee may, in its judgment, exclude the impact of unusual, non-recurring events that occur during the year. When setting the goals for 2024, the Compensation, Culture and Talent Committee considered many factors, including the alignment between appropriate payout opportunities and strong financial results at threshold, target, and maximum performance goal levels.

Each of the performance percentages can range from 0% to 200%, with financial performance weighted 40%, operating performance weighted 25%, strategic initiatives weighted 25% and culture weighted 10%. This results in a maximum ACI award opportunity equal to 200% of the target award.

Vesting of an award generally requires continued employment until the date that payment is made under the award, but if an officer’s employment is terminated before that date due to retirement, death, or disability, the officer is entitled to a portion of the award, prorated based on the number of days served during the award year.

| Looking Ahead                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
 In 2024, the Compensation, Culture and Talent Committee increased the weighting