Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 23

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 23
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5 Annual Meeting Information Statement |

Consideration of 2024 WEC Energy Group Stockholder Advisory Vote and Stockholder Outreach

At the 2024 WEC Energy Group Annual Meeting of Stockholders, stockholders approved the compensation of WEC Energy Group's named executive officers with 94.3% of the votes cast supporting the say-on-pay proposal. The Compensation Committee considered this outcome as well as the feedback received during meetings WEC Energy Group again held with many of its institutional stockholders. During 2024, WEC Energy Group communicated with stockholders representing approximately 50% of WEC Energy Group’s outstanding common stock about matters of importance to them, including for some, its compensation practices. In light of the significant stockholder support the executive compensation program received in 2024, the Compensation Committee believes that the overall compensation program structure is competitive, aligned with WEC Energy Group’s and our financial, operational and social performance goals, and in the best interests of WEC Energy Group and the Company, stockholders, and customers.

### COMPONENTS OF OUR EXECUTIVE COMPENSATION PROGRAM
We have three primary elements of total direct compensation: (1) base salary; (2) annual incentive awards; and (3) long-term incentive awards consisting of a mix of WEC Energy Group performance units, stock options, and restricted stock. The Compensation Committee again retained FW Cook as its independent compensation consultant to advise the Compensation Committee with respect to the executive compensation program. The Compensation Committee generally relied upon the recommendations of FW Cook in its development of the 2024 program.

As shown in the charts below, 88% of Mr. Lauber’s 2024 total direct compensation and an average of 78% of the other NEOs’ 2024 total direct compensation was tied to WEC Energy Group performance and was not guaranteed.

| CEO 2024 TOTAL DIRECT COMPENSATION MIX |     | OTHER NEOs 2024 TOTAL DIRECT COMPENSATION MIX |

In addition to the components of total direct compensation identified above, retirement programs are another important component of our compensation program.

This Compensation Discussion and Analysis contains a more detailed discussion of each of the above components for 2024, including FW Cook’s recommendations with respect to each component.

| Wisconsin Electric Power Company |     | 13 |     | 2025 Annual Meeting Information Statement |

#### Compensation Governance and Practices
The Compensation Committee annually reviews and considers the Company’s compensation policies and practices to ensure our executive compensation program aligns with our compensation philosophy. Highlighted below is