Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 38

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 38
---
 and (iii) John Motulsky, Jonathan Sacks, Peter Sisitsky, Michael Thoyer, Michael Stern, and Samir Arora (the “Stonehill Individuals”). For these purposes, Stonehill Management has shared voting and shared dispositive power with respect to 921,694 shares of the Utility’s first preferred stock. Stonehill Management is an investment adviser to, and thus may be deemed to beneficially own shares of the Utility’s first preferred stock held by, Stonehill Institutional Partners, L.P. (which owns and has shared voting and shared dispositive power with respect to 546,167 shares, constituting 5.3 percent of such first preferred stock) and the Stonehill Individuals (each of whom owns and has shared voting and dispositive power with respect to 921,694 shares, constituting 8.9 percent of such first preferred stock, except that Samir Arora has shared voting power with respect to 1,672,648 shares).

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 45

Proposal 2:

Advisory Vote to Approve Executive Compensation for PG&E Corporation and
Pacific Gas and Electric Company

| Board Recommendation |     |            |     | What are you voting on?                                                                                                                                                                                                                                                                                                                                                                                                          
 PG&E Corporation and the Utility each asks its respective shareholders to approve, on an advisory basis, the compensation paid for 2024 to the companies’ executive officers named in the Summary Compensation Table of this Joint Proxy Statement, as disclosed pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, the compensation tables, and the accompanying narrative discussion. |
|                      |     | Vote “FOR” |     |                                                                                                                                                                                                                                                                                                                                                                                                                                  |

This vote is non-binding and is required by Section 14A of the Securities Exchange Act of 1934. PG&E Corporation and the Utility each currently plan to submit this vote to shareholders annually, and expect to next submit this matter to shareholders in connection with next year’s annual shareholder meeting. If the shareholders of either company do not approve this proposal, the People and Compensation Committee and members of management will examine the reasons for disapproval and will consider those reasons when developing future executive compensation programs, practices, and policies.

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 46

### Compensation Discussion
and Analysis

| This CD&A provides our shareholders and other stakeholders with information about PG&E Corporation’s and the Utility's performance, compensation framework, compensation decisions