Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 57

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 57
---
 targets for system hardening, enhanced vegetation management and greater affordability for customers were adjusted and approved by the People and Compensation Committee in early 2023 (previously inadvertently disclosed as 2022) to ensure continued alignment with PG&E's regulatory commitments. Due to an administrative error in the 2023 Proxy, the targets for the 2022-2024 PSU metrics did not show the approved revisions. For the 2022 goals shown above, the original threshold, target and maximum for system hardening were 1,701, 1,790, and 1,956 risk miles, enhanced vegetation management was 5,400, 5,670, and 6,210 risk miles, and customer affordability was $(140), $(90), and $(40) million respectively. |
| (2) |     | The targets are based on non-GAAP core earnings (aligned with our external EPS guidance) excluding unrecoverable interest expense, compared to authorized earnings as established through approved rate cases.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| (3) |     | Comparator companies comprised those listed in our 2022 Performance Comparator Group in our 2023 Proxy Statement: Alliant Energy Corporation, Ameren Corporation, American Electric Power Company, Inc., CMS Energy Corporation, Consolidated Edison, Inc., Duke Energy Corporation, Edison International, Evergy, Inc., Eversource Energy, FirstEnergy Corp., NiSource Inc., Pinnacle West Capital Corporation, The Southern Company, WEC Energy Group, Inc., and Xcel Energy Inc. See “Use of Market Data” section on page 57 for details on peer group selection.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

#### Additional Awards to Current Executives
From time to time, the People and Compensation Committee considers the need for additional awards to recognize leadership and strengthen retention of key executives. Consistent with these considerations, in February 2024, the People and Compensation Committee granted a one-time award of RSUs under the LTIP to Mr. Simon to recognize his leadership, performance, contributions and strengthen overall shareholder alignment and retention, with an aggregate grant date fair value of $1,500,000. The award will vest over three years with 20% on the first anniversary of the date of grant, and 40% on each of the second and third anniversaries of the grant date.

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 70

#### New Hire Awards to New Exec