Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 365

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 365
---
-Employment Payments for Jeffrey J. Lyash, John M. Thomas, III, and David B. Fountain

Jeffrey J. Lyash(1)Payments for 2025Estimated Payments After 2025Severance Plan$— $— SERP3,755,034 (2)15,020,136 (3)Restoration Plan— — EAIP1,277,024 (4)— LTR995,751 (5)— LTP2,846,739 (4)2,876,611 (6)Deferred Compensation— — Total Value of Payments$8,874,548 $17,896,747 

Notes

(1)  Mr. Lyash retired from TVA on May 1, 2025.

(2)  Represents the first of five SERP benefit installments.

(3)  Represents the sum of the four remaining annual installments.

(4)  The payment is expected to be made in November 2025.

(5)  The payment was made in October 2025.

(6)  Mr. Lyash will receive 19/36ths of the actual LTP award that vests on September 30, 2026, and 7/36ths of the actual LTP award that vests on September 30, 2027. Assuming 100 percent payout, these amounts will be $2,102,139 and $774,472, respectively.

John M. Thomas, III(1)Payments for 2025Estimated Payments After 2025Severance Plan$— $— SERP 2,061,530 (2)8,246,120 (3)Restoration Plan— — EAIP498,202 (4)— LTR277,777 (5)— LTP1,124,959 (4)877,361 (6)Deferred Compensation— — Total Value of Payments$3,962,468 $9,123,481 

Notes

(1)  Mr. Thomas retired from TVA on March 8, 2025.

(2)  Represents the first of five SERP benefit installments.

(3)  Represents the sum of the four remaining annual installments.

(4)  The payment is expected be made in November 2025.

(5)  The payment was made in October 2025.