Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 53

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 53
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 results achieved during the year. The plan focuses on quantifiable outcome-based metrics in the overall company score, with an individual performance modifier (IPM) based on year-end ratings for all eligible participants, including NEOs. This ensures any earned incentive is based on a combination of company and individual performance, enabling greater individual accountability in contributing to our overall success.

The People and Compensation Committee establishes an annual target opportunity, expressed as a percentage of base salary, set with reference to market median practices in our Pay Comparator Group. Target opportunities for NEOs ranged from 50% to 145% of actual salary earned. In respect of the company score, achieving threshold performance will earn a payout at 50% of target and achieving maximum performance will earn a payout up to 200% of target. Performance below the threshold goal results in zero payout for that metric. The individual performance modifier cannot exceed 1.2 and the overall payout cannot exceed 200% of target.

The People and Compensation Committee retains complete and sole discretion to adjust any performance formula or score, including to zero, any or all short-term incentive performance measures for any reason, including consideration of (without limitation) performance with respect to safety, compliance, and ethics.

The People and Compensation Committee established 2024 metrics across the same three performance areas as in 2023, with a weighting of 70% towards metrics that focus on underlying objectives tied to safety and customer, and 30% towards financial stability, which itself is inherently tied to our safety performance.

| Financial Stability (30%)                                                                    
 •Non-GAAP core earnings per share                                                            
 •Operating cash flow                                                                         
 Customer Experience (10%)                                                                    
 •Customer experiencing multiple planned and unplanned interruptions (CEMI-5 + CEMI-10) index |     | Safety (60%)                                            
 •Weather-normalized CPUC-reportable fire ignitions rate 
 •Quality pass rate                                      
 •Gas dig-in rate                                        
 •Preventable motor vehicle incident rate                
 •DCPP reliability and safety indicator                  
 •Safe dam operating capacity                            
 •Serious injury actual count                            |

For 2024, the number of weighted metrics reduced from thirteen to ten, to simplify the design and reduce overlap, with a maintained emphasis on outcome-oriented and risk reduction metrics.

• The wildfire risk reduction metric weighted at 15% in 2023 was incorporated into the fire ignition metric as a modifier to the calculation for 2024, with the weighting of that redefined metric increased from 10% to 25%. The fire ignition metric