Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 186

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 186
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 restricted stock units was expected to be recognized over the remaining weighted average period of 1.52 years.The following table summarizes restricted stock unit activity for 2024:Number ofRestricted Stock UnitsWeighted Average Grant-Date Fair ValueNonvested at January 19,268,425 $13.29 Granted5,273,850 16.74 Vested(4,922,000)12.62 Forfeited(196,693)15.27 Nonvested at December 319,423,582 $15.52 

127

Performance SharesPerformance shares generally vest three years after the grant date.  Following vesting, performance shares are settled in shares of common stock based on either PG&E Corporation’s total shareholder return relative to a specified group of industry peer companies over a three-year performance period (“TSR”) or an internal PG&E Corporation metric (subject in some instances to a multiplier based on TSR).  Dividend equivalents, if any, are paid in cash based on the amount of common stock to which the recipients are entitled.Compensation expense attributable to performance shares is generally recognized ratably over the applicable three-year period based on the grant-date fair value determined using a Monte Carlo simulation valuation model for the TSR-based awards or the grant-date market value of PG&E Corporation common stock for awards based on internal metrics.  The weighted average grant-date fair value for performance shares granted during 2024, 2023, and 2022 was $16.94, $13.39, and $13.44 respectively.  In general, forfeitures are recorded ratably over the vesting period, using historical averages and adjusted to actuals when vesting occurs.  As of December 31, 2024, $48 million of total unrecognized compensation costs related to nonvested performance shares was expected to be recognized over the remaining weighted average period of 1.17 years.The following table summarizes activity for performance shares in 2024:Number ofPerformance SharesWeighted Average Grant-Date Fair ValueNonvested at January 16,602,292 $14.06 Granted2,714,196 16.94 Vested(1,779,695)10.70 Forfeited (356,587)13.07 Nonvested at December 317,180,206 $15.52 

NOTE 7: PREFERRED STOCK

PG&E CorporationPG&E Corporation has authorized 400 million shares of preferred stock.On