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

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 27
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 | Target STPP Award as a Percentage of Annual Base Salary |
| Mr. Lauber        |     | 140%                                                    |
| Ms. Liu           |     | 85%                                                     |
| Ms. Kelsey        |     | 75%                                                     |
| Mr. Hooper        |     | 80%                                                     |
| Mr. Garvin        |     | 75%                                                     |

Mr. Hooper's target award is prorated to his April 1, 2024 start date.

The Compensation Committee increased the 2024 target awards for Ms. Liu and Mr. Garvin by 5% from the 2023 target award levels in order to more closely align with the market data and overall job responsibilities of each officer. The target award levels of each NEO reflect median incentive compensation practices as indicated by the market data.

For 2024, the possible payout for any NEO ranged from 0% of the target award to 210% of the target award, based upon the performance of WEC Energy Group and the Company.

Supporting Business Fundamentals and Environmental, Social and Governance Commitments. The financial, operational and social goals established under the STPP are linked to key objectives that support WEC Energy Group's and the Company’s sustainability.

Delivering a cleaner energy future is one of the fundamentals of our business and a major focus of WEC Energy Group's capital plan. The Compensation Committee assesses management’s performance in achieving long-term strategic sustainability goals through the execution of WEC Energy Group's capital spending plan. Its ability to effectively fund the capital plan, as was done in 2024 with a mix of debt, hybrid securities, convertible debt securities, and common stock, has been directly linked with its ability to consistently deliver on WEC Energy Group's financial plan, which includes meeting the financial goals established under the STPP. These financial measures, which are discussed in more detail below, are key performance indicators underlying our NEOs' incentive compensation, linking achievement of WEC Energy Group's long-term strategy through its focus on short-term priorities.

The operational and social goals established under the STPP are tied to achievement of strategic objectives, which include a focus on customer satisfaction, employee safety, and workforce and supplier diversity.

2024 Financial Goals under the STPP. The Compensation Committee adopted the 2024 STPP with a continued focus on financial results. In December 2023, the Compensation Committee approved WEC Energy Group’s earnings per share (75% weight) and cash flow (25%