Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 39

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 39
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 date. The following table provides the number of shares of restricted stock granted to each NEO in 2024:

| Executive Officer |     | Restricted Stock Granted |
| Mr. Lauber        |     |                   12,820 |
| Ms. Liu           |     |                    4,895 |
| Ms. Kelsey        |     |                    2,533 |
| Mr. Hooper        |     |                    2,706 |
| Mr. Garvin        |     |                    2,276 |

2024 Performance Units. In December 2023, the Compensation Committee approved the grant of performance units to each of our NEOs (other than Mr. Hooper) and approved a pool of performance units that were granted to approximately 155 other employees. The Compensation Committee subsequently approved a grant of 2024 performance units to Mr. Hooper, effective April 1, 2024.

The Compensation Committee believes that the performance measures selected in accordance with the terms of the Amended PUP should link the interests of our executives to creating long-term value for WEC Energy Group's stockholders. Therefore, the measures chosen by the Committee, discussed in more detail below, balance critical operating metrics with the delivery of strong stockholder returns.

With respect to the 2024 performance units, the amount of the benefit that ultimately vests will be dependent upon 1) WEC Energy Group’s total stockholder return over the three-year period ending December 31, 2026, as compared to the total stockholder return of the custom peer group described below (55% weight), and 2) WEC Energy Group's performance against the weighted average authorized return on equity ("ROE") of all WEC Energy Group's utility subsidiaries, including the Company, for the three-year performance period (45% weight). Pro-rata adjustments will be made to account for any changes to authorized ROE approved by the relevant public service commissions during the performance period. In addition, the Compensation Committee may increase the ultimate vesting percentage based upon WEC Energy Group's price to earnings ("P/E") ratio, ranked in comparison to the same custom peer group, as determined at the end of the three-year performance period.

Upon vesting, the performance units will be settled in cash in an amount determined by multiplying the number of performance units that have vested by the closing price of WEC Energy Group’s common stock on the last trading day of the performance period.

The 2024 performance unit peer group against which WEC Energy Group's performance