Company: ATO
Filing Date: 2025-12-09
Form Type: PRE 14A
Source: 0000731802-25-000061
Chunk: 5

Company: ATMOS ENERGY CORP
Filing Date: 2025-12-09
Form: PRE 14A
Chunk 5
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 of 12 director nominees are independent

annual election of all directors

regular executive sessions of independent directors

comprehensive and strategic risk oversight

mandatory retirement age for directors

annual board and committee evaluations

all committees chaired by independent directors

### SHAREHOLDER MATTERS
robust shareholder engagement

annual Say-on-Pay vote

majority voting for director elections

no poison pill in force

### OTHER GOVERNANCE PRACTICES
executive and director stock ownership guidelines

clawback policy applicable to all incentive and equity compensation

prohibition on hedging or pledging stock

#### 8Atmos Energy
Proxy Statement Overview

#### Compensation Highlights
| Our compensation programs are designed to both attract and retain top-level executive talent and align the long- and short-term interests of our executives with those of our shareholders.                                                                                                                                                                                                                                                                                                                     
 We received more than 92% shareholder support for our Say-on-Pay vote in 2025, which our Human Resources Committee considers to be among the most important items of feedback about our compensation programs.                                                                                                                                                                                                                                                                                                  
 We recognize and reward our executive officers through compensation arrangements that directly link their pay to the Company’s performance, and we ensure a strong alignment of interests with our shareholders by including a significant amount of equity in the overall mix of pay. Our pay mix includes base salary, an annual incentive cash bonus plan (“Incentive Plan”), and a long-term incentive plan (“LTIP”) under which we grant time-based and performance-based restricted stock units (“RSUs”). |     | We received more than       
 92%                         
 shareholder support for our 
 Say-on-Pay                  
 vote in 2025                |

| Fiscal 2025 Target Compensation Mix |     |                                            |
| CEO                                 |     | Average for Other Named Executive Officers |

Key Features of Our Executive Compensation Program

| What We Do                                                                                                                                                                                                                                                             |     | What We Don’t Do                                                                                                                                                                           |
| Executive officer awards under the Incentive Plan and performance-based RSUs are generally capped at 200% of target. Awards under both programs are capped at 100% of target if the Company’s total shareholder return (“TSR”) for the performance period is negative. 
 Seventy-five percent of LTIP awards are performance-contingent.                                                                                                                                                                                                        
 Our clawback policy goes beyond the requirements of Dodd Frank and covers all incentive compensation, including both time-based and performance-based equity awards.                                                                                                   
 Executives and directors are subject to share ownership guidelines and retention requirements.                                                                                                                                                                         
 Our change in control sever