Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 61

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 61
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 guidelines. The purpose of this policy is to:

• Attract and retain senior management by providing severance benefits that are part of a competitive total compensation package;

• Provide consistent treatment for all terminated officers;

• Minimize potential litigation costs in connection with terminations of employment by conditioning payments upon a general release of claims; and

• Focus management on maximizing shareholder value and aligning interests, rather than being distracted by concerns about job security in a potential change-in-control situation.

Change-in-control benefits require a “double trigger” and are not payable based on a change-in-control event alone, which the People and Compensation Committee believes best reflects shareholder interests and aligns with typical market practices. Details of the policy are summarized below.

| Termination Scenario                                              |     | Eligible                                                                                                                                                                                                                              |     | Key Provisions                                                                                                                                |     |                                                                                                      |
| Termination without cause                                         |     | All NEOs                                                                                                                                                                                                                              |     | •                                                                                                                                             |     | Cash severance of two-times (CEO) or one-times (other NEOs)the sum of base salary and STIP target    |
|                                                                   |     | •                                                                                                                                                                                                                                     |     | Pro-rata vesting of PSUs                                                                                                                      |     |                                                                                                      |
|                                                                   |     | •                                                                                                                                                                                                                                     |     | Continued vesting of unvested RSUs for one year                                                                                               |     |                                                                                                      |
|                                                                   |     | •                                                                                                                                                                                                                                     |     | Continued vesting of stock options for one year, with an exercise period equal to the lesser of one year or the remaining term of the options |     |                                                                                                      |
|                                                                   |     | •                                                                                                                                                                                                                                     |     | Limited COBRA benefits and outplacement services                                                                                              |     |                                                                                                      |
| Termination for cause or resignation when not retirement eligible |     | All NEOs                                                                                                                                                                                                                              |     | Termination for cause or resignation when not retirement eligible:                                                                            |     |                                                                                                      |
| •                                                                 |     | Forfeits all unvested PSUs, RSUs, and stock options                                                                                                                                                                                   |     |                                                                                                                                               |     |                                                                                                      |
| •                                                                 |     | Forfeits any unpaid dividends associated with long-term incentive awards                                                                                                                                                              |     |                                                                                                                                               |     |                                                                                                      |
| Termination following a Change in Control                         |     | All NEOs (except S. Williams)                                                                                                                                                                                                         |     | •                                                                                                                                             |     | Cash severance of three-times (CEO) or two-times (other