Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 99

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 99
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 purchase rights to eligible employees. Under the ESPP, the People and Compensation Committee may specify offering periods with a duration of not more than 27 months and may specify shorter purchase periods within each offering. During each purchase period, payroll deductions will accumulate, without interest. On the last day of the purchase period, accumulated payroll deductions will be used to purchase shares of the Corporation’s common stock for employees participating in the offering.

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 107

The purchase price will be specified pursuant to the offering, but cannot, under the terms of the ESPP, be less than 85% of the fair market value per share of the Corporation’s common stock on either the offering date or on the purchase date, whichever is less. The fair market value of the Corporation’s common stock for this purpose will generally be the closing price on the New York Stock Exchange as reported by the Wall Street Journal for the date in question, or if such date is not a trading day, for the last trading day before the date in question.

Reset Feature. The People and Compensation Committee may specify that, if the fair market value of a share of the Corporation’s common stock on any purchase date within a particular offering period is less than or equal to the fair market value on the start date of that offering period, then the offering period will automatically terminate and the employee in that offering period will automatically be transferred and enrolled in a new offering period which will begin on the next day following such purchase date.

Corporate Reorganization. Immediately before a corporate reorganization, the offering period and purchase period then in progress will terminate and either the Corporation’s common stock will be purchased with the accumulated payroll deductions or the accumulated payroll deductions will be refunded without occurrence of any common stock purchase, unless the surviving corporation (or its parent corporation) assumes the ESPP under the plan of merger or consolidation.

Amendment and Termination. The PG&E Corporation Board and the People and Compensation Committee will each have the right to amend, suspend or terminate the ESPP at any time. Any increase in the aggregate number of shares of stock to be issued under the ESPP is subject to the approval of the Corporation’s shareholders. Any other amendment is subject to the approval of the Corporation’s shareholders only to the extent required under applicable law or regulation, including Code Section 423.

#### New Plan Benefits
The amounts of future purchases under the ESPP are not determinable because, under the terms of the ESPP, purchases are based upon voluntary elections made by