Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 26

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 26
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 goals related to the achievement of WEC Energy Group’s and the Company’s goals. At the end of the year, each officer’s performance is measured against these goals. Based on this performance assessment, the CEO makes a compensation recommendation to the Compensation Committee for the upcoming year for each executive officer.

#### 2024 Salary Determination Process
Mr. Lauber's 2024 annual base salary was set at $1,130,118, an increase of 5.0% over his 2023 base salary.

In March 2024, Michael Hooper entered into an agreement with WEC Energy Group pursuant to which he began serving as President of WEC Energy Group's Wisconsin Utilities, effective April 1, 2024. In connection with Mr. Hooper's appointment, his annual base salary was set at $650,000, which was prorated to his April 1, 2024 start date.

With respect to the 2024 base salaries of Mmes. Liu and Kelsey, and Mr. Garvin, in December 2023, recommendations were made to the Compensation Committee based upon a review of the market compensation data provided by FW Cook and the other factors described above. The Compensation Committee approved the recommendations, which represented an average increase in annual base salary of approximately 4.3%. The annual base salary of each NEO was at or near the market median.

### ANNUAL CASH INCENTIVE COMPENSATION
We provide annual cash incentive compensation through WEC Energy Group’s Short-Term Performance Plan ("STPP"). The STPP provides for annual cash awards to executive officers and other key employees based upon the achievement of pre-established stockholder-, customer- and employee-focused objectives. All payments under the STPP are at risk. Payments are made only if performance goals are achieved, and awards may be less or greater than targeted amounts based upon actual performance. Payments under the STPP are intended to reward achievement of short-term goals that contribute to WEC Energy Group stockholder and customer (including our customers) value, as well as individual contributions to successful operations.

2024 Target Awards. Each year, the Compensation Committee approves a target level of compensation under the STPP for each of our NEOs. This target level of compensation is expressed as a percentage of base salary.

| Wisconsin Electric Power Company |     | 15 |     | 2025 Annual Meeting Information Statement |

The year-end 2024 target awards for each NEO are set forth in the chart below.

| Executive Officer |