Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 484

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 7
Chunk 484
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 arrangement," as each term is defined in Item 408(a) of Regulation S-K.

2026 CEO Compensation

The following sets forth the components of Chief Executive Officer ("CEO") Donald A. Moul's 2026 target total direct compensation ("TDC"), which were approved by the TVA Board on November 12, 2025, and were effective as of October 1, 2025:

•Salary remained the same at $1,200,000.

•Executive Annual Incentive Plan ("EAIP") target remained at 110 percent of base salary.

•Long-term performance ("LTP") grant of $2,450,000, which will vest on September 30, 2028.

•Long-term retention ("LTR") grant of $1,050,000, which will vest in three equal increments on September 30, 2026, September 30, 2027, and September 30, 2028.

Compensation Adjustments for Other NEOs

On November 6, 2025, CEO Donald A. Moul approved compensation adjustments for the following 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