Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 542

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 7
Chunk 542
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 made in November 2025.

(6)  Represents the first of five installments from the Deferred Compensation Plan.

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

CEO Pay Ratio Disclosure

As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and Item 402(u) of Regulation S-K, TVA is providing the following information regarding the annual total compensation of TVA's CEO position and the annual total compensation of the median employee of the company:  

•The total compensation for the CEO position for 2025 was $5,710,167.

•For 2025, the median employee's annual total compensation was $170,254.

Based on this information, the pay ratio of the total compensation for the CEO position to the median employee was approximately 34 to 1.  

To identify the median employee and to determine the annual total compensation of the median employee, TVA took the following steps:

•TVA selected September 30, 2025, as the date on which to identify its median employee. On September 30, 2025, TVA's employee population that had earnings in 2025 (including full-time, part-time, and temporary employees) consisted of 10,427 individuals located in the U.S. 

•In order to identify the median employee from its employee population, TVA compared the compensation that would be included in Box 5 (Medicare Wages and Tips) of Form W-2, which includes salary, overtime, and incentive compensation, for the period from October 1, 2024 to September 30, 2025.  Box 5 compensation was used as it is representative of the compensation received by all employees and is readily available and objective. 

•After identifying its median employee, TVA calculated that employee's compensation for 2025 as though that compensation was being calculated for purposes of the Summary Compensation Table, resulting in annual total compensation of $170,254.

TVA believes that the above pay ratio is a reasonable estimate calculated in a manner consistent with Item 402(u) of Regulation S-K. Because Item 402(u) provides companies with flexibility to select the methodology and assumptions used to identify the median employee and to calculate the pay ratio, the pay ratio reported by TVA may not be comparable to the pay ratios reported by other companies. 

Other Agreements

Except as described above and in the Compensation Discussion and Analysis, there are