Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 90

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 90
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 |  3,517,423 |
| Average for non-PEO Utility NEOs   |     | 2024 |     |            |                                                                                                                      |     |  1,892,090 |                                                                                                                             |     |   182,578 |                                                                                                                               |     |  -35,649 |                                                                                                   |     | 0 |                                                                                                                                 |     | 0 |                                                                                                                                         |     |        249 |                                               |     |  2,039,269 |

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 100

Compensation Actually Paid Versus Company Performance

The following charts provide a clear, visual comparison, for each of 2024, 2023, 2022, 2021, and 2020, between SCT paid to our PEOs, CAP to our PEOs, the average SCT paid to our non-PEO NEOs, and CAP to our non-PEO NEOs, to PG&E’s TSR and the peer group’s TSR for each of those years. In addition, the charts illustrate how PG&E’s TSR compares to our PVP peer group’s TSR.

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 101

TSR is used as a performance measure in our LTIP program, applicable to PSUs, but the peer group of companies against which LTIP TSR performance is compared and the calculation for determining the LTIP TSR performance score are different than what is shown in the above charts. Additionally, TSR has a 35% weighting in our LTIP and, accordingly, it has limited impact on the CAP. However, as LTIP awards make up a large portion of total compensation, it is a factor that impacts the value of outstanding and vested awards and thereby the CAP.

Our company-selected measure is non-GAAP core EPS, which accounts for 20% of the outcome under our STIP. Given the relatively small weight of this measure in our incentive framework, non-GAAP core EPS has a very limited relationship with CAP. We do not use GAAP net income in our incentive plans, although it is a component of non-GAAP core EPS. Accordingly, net income, like non-GAAP core EPS, has a very limited relationship with CAP. While financial measures are not heavily weighted, PG&E emphasizes many quantifiable non-financial performance measures in our incentive plans, based on operational customer and safety metrics. Details of these can be found in the Compensation Discussion & Analysis