Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 340

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 340
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 33,000 58,000 58,000 149,000 Timothy S. Rausch330,000 375,000 402,000 110,000 125,000 134,000 369,000 David B. Fountain(6)— — — — — — — 

Note

(1)  Third installment of 2023 LTR.

(2)  Second installment of 2024 LTR.

(3)  First installment of 2025 LTR.

(4)  LTR Tranche Vested is prorated due to retirement in 2025.

(5)  The LTR award is prorated based on time in position.

(6)  Mr. Fountain separated from service before his LTR awards for 2025 vested. 

172

Non-Direct Compensation Elements

Other Compensation  

To recruit high-quality talent, TVA may offer recruitment awards as well as relocation assistance and reimbursement.  These types of deferred cash incentive awards are intended to compensate the individuals for amounts they may have forfeited from their previous employer in order to join TVA and/or provide substitute compensation when the individual is not eligible to receive certain incentive payments until a future date.

Executive Severance Plan

TVA has established a Severance Plan to provide additional benefits to certain executives if TVA terminates the employment of covered executives other than for Gross Misconduct or such executives terminate for Good Reason.  See Executive Compensation Tables and Narrative Disclosures — Executive Severance Plan below for additional information regarding the benefits available to covered executives under the Severance Plan as well as definitions of Gross Misconduct and Good Reason. 

Retirement Benefits

TVA provides its NEOs with retirement benefits through both qualified and non-qualified plans in order to provide compensation beginning with retirement or termination of employment (if vesting requirements are satisfied), with enhanced compensation for certain executives to provide an additional incentive for hiring and retention of qualified individuals.  

Qualified Plans.  TVA sponsors a qualified defined benefit plan ("pension plan") and a qualified defined contribution plan ("401(k) plan"), which are administered by the TVA Retirement System ("TVARS").  The availability of, and level of benefits provided by, these qualified plans are comparable to similar qualified plans provided by companies in TVA's peer group.

Non-Qualified Plans.  TVA has two non-qualified plans: the Supplemental Executive Retirement Plan (“SERP”) and the Restoration Plan ("RP").