Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 318

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 318
---
 J. Renick (Chair).

The Operations and Nuclear Oversight Committee helps ensure the safety and effectiveness of TVA's power system generation and transmission assets by overseeing operational performance and planning. Additional oversight includes significant projects, major inspections and evaluations, long-term asset planning, and operational and regulatory compliance.  Current members include Robert P. Klein (Chair) and A. Wade White.

The People and Governance Committee has a primary focus on people and the creation of a culture that lives up to TVA's values to ensure optimal performance and sustainability of the enterprise.  The committee reviews key components of the people framework such as talent, engagement, total rewards, and labor relations.  Another key function of this committee is Board governance.  Current members include Robert P. Klein (Chair).

The Finance, Rates, and Portfolio Committee oversees electricity rates, annual budget, major contracts, energy resource portfolio planning, commercial programs and products, technology, innovation, and research programs.  This committee is charged with the responsibility of assisting the Board in fulfilling its responsibilities to manage financial health, strategic planning, wholesale and direct-served customer rates, and holistic asset strategy.  Current members include A. Wade White (Chair) and William J. Renick.

160

ITEM 11.  EXECUTIVE COMPENSATION

Compensation Discussion and Analysis

This Compensation Discussion and Analysis ("CD&A") provides information on the objectives, goals, and structure of TVA's executive compensation program and the 2025 compensation awarded to TVA's CEO and CFO, TVA's retired CEO and CFSO, the three other most highly compensated employees serving as executive officers at the end of 2025, and the two most highly compensated employees who served as executive officers during 2025 but were not serving as executive officers at the end of 2025.  Collectively, these officers are TVA's 2025 Named Executive Officers ("NEOs"):

NEOTitleEmploymentDatePosition DateDonald A. Moul(1)President and Chief Executive Officer20212025Jeffrey J. Lyash(2)Retired President and Chief Executive Officer20192019Thomas C. Rice(3)Executive Vice President and Chief Financial Officer20022025John M. Thomas, III(4)Retired Executive Vice President and Chief Financial and Strategy Officer20052010Matthew M. Rasmussen Senior Vice President and Chief Nuclear Officer20022025Rebecca C. Tolene Executive Vice President and General Counsel20022025Jeremy P. Fisher Executive Vice President and Chief