Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 55

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 55
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 based on the closing price of $16.60 on March 1, 2024.Approved target values differ from the grant date fair values reported in the Summary Compensation Table which are determined in accordance with Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) Topic 718.                                |
| (2) |     | To recognize his leadership, performance, contributions and strengthen overall shareholder alignment and retention, Mr. Simon received a special award of Restricted Stock Units (RSUs) valued at $1,500,000. This was separate from his annual LTIP award and is not reflected in the 2024 Target Long-Term Incentive value figure reported above. See Additional Awards to Current Executives for additional details.                                             |
| (3) |     | In connection with his inducement to join the Company as Executive Vice President and Chief People Officer of PG&E Corporation and Pacific Gas and Electric Company, effective January 16, 2024, Mr. Awada also received an award of RSUs valued at $1,000,000. This was separate from his annual LTIP award and is not reflected in the 2024 Target Long-Term Incentive value figure reported above. See New Hire Awards to New Executives for additional details. |

Performance will be measured over a three-year performance period from January 1, 2024 to December 31, 2026 and vest to the extent threshold or greater performance objectives are accomplished three years after the grant date, in accordance with the three-year holding period for equity required under AB 1054. Dividend equivalents, if any, are accrued and paid in cash at the end of the performance period on earned shares only. The People and Compensation Committee retains complete and sole discretion to adjust any performance formula or score, including to zero, on any and all incentive plan performance measures or modifiers for any reason.

In determining the performance metrics for the 2024 awards, the People and Compensation Committee considered a range of factors similar to those noted above in respect of the STIP awards. These included alignment with our core focus on customer welfare; the interaction with other metrics under the STIP and existing LTIP awards; the companies’ ability to establish robust goals; and the extent to which the metrics measure outcomes in an objective manner. The performance metrics used in the 2024 PSUs were the same as the 2023 PSU awards.

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 68

| Performance