Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 38

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 38
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 Option Grants" for additional information.

2024 Restricted Stock Awards. In December 2023, the Compensation Committee also approved the grant of restricted stock to each of our NEOs (other than Mr. Hooper) and established an overall pool of restricted stock that was granted to approximately 155 other employees. The grants were made effective January 2, 2024. The Compensation Committee subsequently approved a grant of restricted stock to Mr. Hooper, effective April 1, 2024.

The restricted stock vests in three equal annual installments beginning on the one year anniversary of the applicable grant date. Subject to very limited exceptions, restricted stock awarded to the Company's executive officers, including the NEOs, is subject to a minimum one-year holding period following the vesting date. The vesting of the restricted stock may be accelerated in connection with a termination of employment due to a change in control of WEC Energy Group, death or disability, or by action of the Compensation Committee. See "Potential Payments upon Termination or Change in Control" beginning on page 35 for additional information. Tax withholding obligations related to vesting may be satisfied, at the option of the executive officer, by withholding shares otherwise deliverable upon vesting or by cash. The NEOs have the right to vote the restricted stock and to receive cash dividends when WEC Energy Group pays a dividend to its stockholders.

Regarding the annual grants effective January 2, 2024, for purposes of determining the appropriate number of shares of restricted stock to grant to a particular NEO, the Compensation Committee used a value of $84.621 per share. This value was based upon the volume-weighted price of WEC Energy Group’s common stock for the ten trading days beginning on December 1, 2023, and ending on

| Wisconsin Electric Power Company |     | 20 |     | 2025 Annual Meeting Information Statement |

December 14, 2023. The Compensation Committee uses the volume-weighted price for annual awards in order to minimize the impact of day-to-day volatility in the stock market.

Regarding the April 1, 2024 grant to Mr. Hooper, the Compensation Committee used a value of $81.663 per share. This value was based upon the average of the high and low stock prices of WEC Energy Group’s common stock on April 1, 2024.

The measurement period is customarily early- to mid-December for annual awards in order to shorten the timeframe between the calculation of the awards and the actual grant