PROPOSAL 3: AMENDMENT AND RESTATEMENT OF LTIP, INCLUDING AN INCREASE IN AVAILABLE SHARES
ADMINISTRATION
The Plan provides for administration by the Board or a Committee, consisting of two or more Board members, appointed by the Board. The Board has delegated the authority to administer the Plan to the Compensation Committee. Each member of the Compensation Committee administering the Plan is (a) a “nonemployee director” within the meaning of Rule 16b-3 of the Exchange Act, as amended; and (b) an “independent director” within the meaning of the New York Stock Exchange listing requirements.
The terms and conditions of each award will be determined by the Compensation Committee, in its discretion, and may differ from award to award. Subject to the terms and conditions of the Plan, the Compensation Committee has the exclusive authority to determine all matters relating to awards or necessary or advisable in the administration of the Plan, including, but not limited to: (a) interpreting the Plan; (b) determining all matters relating to awards pursuant to the Plan, including the selection of individuals to be granted awards, the type of awards, the number of shares of Common Stock subject to an award, and all terms, conditions, restrictions and limitations, if any, on any awards; (c) adopting and amending rules and regulations relating to the Plan; and (d) making all other determinations necessary or advisable for the administration of the Plan.
The Plan provides that the Company’s senior executive officers, if authorized by the Board and consistent with applicable law, may grant Plan awards to designated classes of employees within limits set by the Board.
ELIGIBILITY
The Plan permits grants to officers, directors and employees of and individual consultants and independent contractors to the Company and its subsidiaries, as selected by the Compensation Committee.
As of March 7, 2025, there were 18 officers, including subsidiary officers, 32 directors, and approximately 5 employees, individual consultants and independent contractors potentially eligible to receive grants under the Plan.
SHARES AVAILABLE
The Plan, as amended and restated, permits the award of an aggregate of 7,715,000 shares, which consists of 6,135,000 shares previously authorized plus 1,580,000 shares for which approval is sought by this proposal. As described above, only 1,227,992 of the previously authorized 6,135,000 shares remain available for awards. Shares issued pursuant to the Plan will be drawn from authorized and unissued shares, shares held or subsequently acquired by the Company or shares purchased on the open market. Any shares of Common Stock subject to an award that cease to be subject to the award (other than by reason of exercise or payment of the award to the extent it is exercised for or settled in shares or by reason of use of such shares to pay taxes with respect to such award) will become available again for future awards pursuant to the Plan.
Award Limits
Subject to adjustment as provided in the Plan, the Plan prohibits: (i) the award of more than an aggregate of 80,000 shares of Common Stock as incentive stock options (“ISOs”); and (ii) awards of Common Stock to non-employee directors in excess of $750,000 in any given year.
Adjustments
If a stock dividend, stock split, spin-off, combination or exchange of shares, recapitalization, merger, consolidation, distribution to shareholders other than a normal cash dividend or other change in the Company’s corporate or capital structure results in (a) the outstanding shares, or any securities exchanged therefor or received in their place, being exchanged for a different number or class of securities of the Company or of any other corporation or (b) new, different or additional securities of the Company or of any other corporation being received by the holders of shares of Common Stock of the Company, then the Compensation Committee shall proportionally adjust (i) the maximum number and kind of securities available for issuance under the Plan; (ii) the maximum number and kind of securities that may be awarded to any individual participant; and (iii) the number and kind of securities subject to any outstanding award and the per share price of the securities, without any change in the aggregate price. In addition, subject to the Plan terms relating to a Change of Control described below, the Compensation Committee has the discretion to take any further action with respect to outstanding awards as it deems necessary, advisable, fair, and equitable to participants at any time before a sale, merger, consolidation, reorganization, liquidation or other corporate transaction (as defined by the Compensation Committee).
Pay vs Performance Disclosure - USD ($)
|
12 Months Ended |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Pay vs Performance Disclosure |
|
|
|
|
|
Pay vs Performance Disclosure, Table |
Pay vs. Performance (“PvP”) Tabular Disclosure — 2024 As required by Section 953(a) of the Dodd-Frank Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between “compensation actually paid” (“CAP”) to our CEO and to our other NEOs and certain financial performance metrics of the Company. CAP, as determined under SEC requirements, does not reflect the actual amount of compensation earned by or paid to our executive officers during a covered year. For further information concerning the Company’s philosophy and how the Company aligns executive compensation with the Company’s performance, refer to the Compensation Discussion and Analysis.
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|
Value of $100 Initial Investment Based On: |
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|
|
|
|
|
|
|
|
|
|
Compensation Actually Paid (2) |
|
|
|
|
|
|
|
Compensation Actually Paid (2) |
|
|
|
|
|
|
|
Peer Group Cumulative TSR (3) |
|
|
|
|
|
|
|
|
|
$ |
4,977,194 |
|
|
$ |
5,047,454 |
|
|
|
|
$ |
1,340,034 |
|
|
$ |
1,363,893 |
|
|
|
|
$ |
95 |
|
|
$ |
118 |
|
|
$ |
180.1 |
|
|
$ |
2.39 |
|
|
|
$ |
5,229,962 |
|
|
$ |
1,552,612 |
|
|
|
|
$ |
1,137,887 |
|
|
$ |
454,110 |
|
|
|
|
$ |
86 |
|
|
$ |
88 |
|
|
$ |
171.2 |
|
|
$ |
2.24 |
|
|
|
$ |
4,745,379 |
|
|
$ |
5,290,632 |
|
|
|
|
$ |
1,318,402 |
|
|
$ |
1,605,440 |
|
|
|
|
$ |
104 |
|
|
$ |
103 |
|
|
$ |
155.2 |
|
|
$ |
2.12 |
|
|
|
$ |
4,577,539 |
|
|
$ |
3,485,983 |
|
|
|
|
$ |
1,257,052 |
|
|
$ |
1,082,031 |
|
|
|
|
$ |
96 |
|
|
$ |
103 |
|
|
$ |
147.3 |
|
|
$ |
2.10 |
|
|
|
$ |
5,004,033 |
|
|
$ |
2,234,759 |
|
|
|
|
$ |
1,173,361 |
|
|
$ |
241,559 |
|
|
|
|
$ |
87 |
|
|
$ |
86 |
|
|
$ |
129.5 |
|
|
$ |
1.90 |
|
1. |
The CEO in all four reporting years was Dennis Vermillion. The other NEOs in the 2024 reporting year were Kevin Christie, Heather Rosentrater, Greg Hesler, and Jason Thackston. The other NEOs in the 2023 reporting years are Mark Thies (ret.), Kevin Christie, Heather Rosentrater, Jason Thackston, and Wayne Manuel. The other NEOs in 2022 and 2021 reporting years were: Mark Thies (ret.), Jason Thackston, Heather Rosentrater, and Kevin Christie. The other NEOs in the 2020 reporting year are Mark Thies (ret.), Jason Thackston, Marian Durkin (ret.), Kevin Christie, and Heather Rosentrater. |
2. |
Amounts reported in this column are based upon total compensation reported for our CEO and our other NEOs in the SCT for the indicated reporting years and adjusted as shown in the table below. Fair value of equity awards was computed in accordance with the Company’s methodology used for financial reporting purposes. |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCT Reported Compensation |
|
$ |
5,004,033 |
|
|
$ |
1,173,361 |
|
|
|
|
$ |
4,577,539 |
|
|
$ |
1,257,052 |
|
|
|
|
$ |
4,745,379 |
|
|
$ |
1,318,402 |
|
|
|
|
$ |
5,229,962 |
|
|
$ |
1,137,887 |
|
|
|
|
$ |
4,977,194 |
|
|
$ |
1,340,034 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCT reported change in pension value |
|
$ |
(2,290,317 |
) |
|
$ |
(335,308 |
) |
|
|
|
$ |
(905,751 |
) |
|
$ |
(170,893 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
(1,384,964 |
) |
|
$ |
(155,884 |
) |
|
|
|
$ |
(528,636 |
) |
|
$ |
(142,187 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
985,475 |
|
|
$ |
73,716 |
|
|
|
|
$ |
6,658 |
|
|
$ |
118,549 |
|
|
|
|
$ |
3,813 |
|
|
$ |
115,378 |
|
|
|
|
$ |
804 |
|
|
$ |
35,117 |
|
|
|
|
$ |
422 |
|
|
$ |
51,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grant date fair values of equity awards reported in “Stock Awards” column of the SCT for the covered FY |
|
$ |
(1,778,775 |
) |
|
$ |
(432,640 |
) |
|
|
|
$ |
(1,986,445 |
) |
|
$ |
(443,078 |
) |
|
|
|
$ |
(2,923,157 |
) |
|
$ |
(642,502 |
) |
|
|
|
$ |
(2,728,537 |
) |
|
$ |
(505,521 |
) |
|
|
|
$ |
(2,854,069 |
) |
|
$ |
(530,051 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For any awards granted in any prior FY forfeited during the covered FY, the fair value at the end of the prior FY |
|
$ |
— |
|
|
$ |
(10,089 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
— |
|
|
$ |
(104,376 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair values as of the end of the covered FY of all equity awards granted during the covered FY outstanding and unvested as of the end of such covered FY |
|
$ |
798,823 |
|
|
$ |
154,306 |
|
|
|
|
$ |
1,865,542 |
|
|
$ |
416,058 |
|
|
|
|
$ |
2,626,495 |
|
|
$ |
577,278 |
|
|
|
|
$ |
1,767,071 |
|
|
$ |
242,652 |
|
|
|
|
$ |
3,213,321 |
|
|
$ |
596,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The change in fair value (whether positive or negative) as of the end of the covered FY of any equity awards granted in any prior FY outstanding and unvested as of the end of such covered FY |
|
$ |
(249,034 |
) |
|
$ |
(176,959 |
) |
|
|
|
$ |
(192,645 |
) |
|
$ |
(63,103 |
) |
|
|
|
$ |
268,274 |
|
|
$ |
61,234 |
|
|
|
|
$ |
(1,518,971 |
) |
|
$ |
(240,617 |
) |
|
|
|
$ |
(454,563 |
) |
|
$ |
(77,953 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For awards granted and vested in the same FY, the fair value as of the vesting date |
|
$ |
109,542 |
|
|
$ |
23,708 |
|
|
|
|
$ |
179,733 |
|
|
$ |
40,100 |
|
|
|
|
$ |
217,488 |
|
|
$ |
63,451 |
|
|
|
|
$ |
227,735 |
|
|
$ |
58,177 |
|
|
|
|
$ |
314,212 |
|
|
$ |
58,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The change in fair value (whether positive or negative) as of the vesting date of any awards granted in any prior FY for which all applicable vesting conditions were satisfied at the end of or during the covered FY |
|
$ |
(410,431 |
) |
|
$ |
(250,148 |
) |
|
|
|
$ |
(197,784 |
) |
|
$ |
(108,165 |
) |
|
|
|
$ |
119,893 |
|
|
$ |
60,392 |
|
|
|
|
$ |
(183,866 |
) |
|
$ |
(36,344 |
) |
|
|
|
$ |
164,104 |
|
|
$ |
27,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The dollar value of any dividend equivalents or other earnings paid on stock or option awards in the covered FY prior to the vesting date not otherwise reflected in the fair value of such award |
|
$ |
65,443 |
|
|
$ |
21,612 |
|
|
|
|
$ |
139,135 |
|
|
$ |
35,511 |
|
|
|
|
$ |
232,446 |
|
|
$ |
51,807 |
|
|
|
|
$ |
143,377 |
|
|
$ |
23,019 |
|
|
|
|
$ |
215,470 |
|
|
$ |
39,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Compensation Actually Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. |
Amounts reported in this column represent returns on an initial $100 investment in the S&P 400 Utilities Index, which we chose as peer group for purposes of the PvP table. |
|
|
|
|
|
Company Selected Measure Name |
EPS
|
|
|
|
|
Named Executive Officers, Footnote |
1. |
The CEO in all four reporting years was Dennis Vermillion. The other NEOs in the 2024 reporting year were Kevin Christie, Heather Rosentrater, Greg Hesler, and Jason Thackston. The other NEOs in the 2023 reporting years are Mark Thies (ret.), Kevin Christie, Heather Rosentrater, Jason Thackston, and Wayne Manuel. The other NEOs in 2022 and 2021 reporting years were: Mark Thies (ret.), Jason Thackston, Heather Rosentrater, and Kevin Christie. The other NEOs in the 2020 reporting year are Mark Thies (ret.), Jason Thackston, Marian Durkin (ret.), Kevin Christie, and Heather Rosentrater. |
|
|
|
|
|
Peer Group Issuers, Footnote |
3. |
Amounts reported in this column represent returns on an initial $100 investment in the S&P 400 Utilities Index, which we chose as peer group for purposes of the PvP table. |
|
|
|
|
|
PEO Total Compensation Amount |
$ 4,977,194
|
$ 5,229,962
|
$ 4,745,379
|
$ 4,577,539
|
$ 5,004,033
|
PEO Actually Paid Compensation Amount |
$ 5,047,454
|
1,552,612
|
5,290,632
|
3,485,983
|
2,234,759
|
Adjustment To PEO Compensation, Footnote |
2. |
Amounts reported in this column are based upon total compensation reported for our CEO and our other NEOs in the SCT for the indicated reporting years and adjusted as shown in the table below. Fair value of equity awards was computed in accordance with the Company’s methodology used for financial reporting purposes. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCT Reported Compensation |
|
$ |
5,004,033 |
|
|
$ |
1,173,361 |
|
|
|
|
$ |
4,577,539 |
|
|
$ |
1,257,052 |
|
|
|
|
$ |
4,745,379 |
|
|
$ |
1,318,402 |
|
|
|
|
$ |
5,229,962 |
|
|
$ |
1,137,887 |
|
|
|
|
$ |
4,977,194 |
|
|
$ |
1,340,034 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCT reported change in pension value |
|
$ |
(2,290,317 |
) |
|
$ |
(335,308 |
) |
|
|
|
$ |
(905,751 |
) |
|
$ |
(170,893 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
(1,384,964 |
) |
|
$ |
(155,884 |
) |
|
|
|
$ |
(528,636 |
) |
|
$ |
(142,187 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
985,475 |
|
|
$ |
73,716 |
|
|
|
|
$ |
6,658 |
|
|
$ |
118,549 |
|
|
|
|
$ |
3,813 |
|
|
$ |
115,378 |
|
|
|
|
$ |
804 |
|
|
$ |
35,117 |
|
|
|
|
$ |
422 |
|
|
$ |
51,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grant date fair values of equity awards reported in “Stock Awards” column of the SCT for the covered FY |
|
$ |
(1,778,775 |
) |
|
$ |
(432,640 |
) |
|
|
|
$ |
(1,986,445 |
) |
|
$ |
(443,078 |
) |
|
|
|
$ |
(2,923,157 |
) |
|
$ |
(642,502 |
) |
|
|
|
$ |
(2,728,537 |
) |
|
$ |
(505,521 |
) |
|
|
|
$ |
(2,854,069 |
) |
|
$ |
(530,051 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For any awards granted in any prior FY forfeited during the covered FY, the fair value at the end of the prior FY |
|
$ |
— |
|
|
$ |
(10,089 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
— |
|
|
$ |
(104,376 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair values as of the end of the covered FY of all equity awards granted during the covered FY outstanding and unvested as of the end of such covered FY |
|
$ |
798,823 |
|
|
$ |
154,306 |
|
|
|
|
$ |
1,865,542 |
|
|
$ |
416,058 |
|
|
|
|
$ |
2,626,495 |
|
|
$ |
577,278 |
|
|
|
|
$ |
1,767,071 |
|
|
$ |
242,652 |
|
|
|
|
$ |
3,213,321 |
|
|
$ |
596,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The change in fair value (whether positive or negative) as of the end of the covered FY of any equity awards granted in any prior FY outstanding and unvested as of the end of such covered FY |
|
$ |
(249,034 |
) |
|
$ |
(176,959 |
) |
|
|
|
$ |
(192,645 |
) |
|
$ |
(63,103 |
) |
|
|
|
$ |
268,274 |
|
|
$ |
61,234 |
|
|
|
|
$ |
(1,518,971 |
) |
|
$ |
(240,617 |
) |
|
|
|
$ |
(454,563 |
) |
|
$ |
(77,953 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For awards granted and vested in the same FY, the fair value as of the vesting date |
|
$ |
109,542 |
|
|
$ |
23,708 |
|
|
|
|
$ |
179,733 |
|
|
$ |
40,100 |
|
|
|
|
$ |
217,488 |
|
|
$ |
63,451 |
|
|
|
|
$ |
227,735 |
|
|
$ |
58,177 |
|
|
|
|
$ |
314,212 |
|
|
$ |
58,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The change in fair value (whether positive or negative) as of the vesting date of any awards granted in any prior FY for which all applicable vesting conditions were satisfied at the end of or during the covered FY |
|
$ |
(410,431 |
) |
|
$ |
(250,148 |
) |
|
|
|
$ |
(197,784 |
) |
|
$ |
(108,165 |
) |
|
|
|
$ |
119,893 |
|
|
$ |
60,392 |
|
|
|
|
$ |
(183,866 |
) |
|
$ |
(36,344 |
) |
|
|
|
$ |
164,104 |
|
|
$ |
27,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The dollar value of any dividend equivalents or other earnings paid on stock or option awards in the covered FY prior to the vesting date not otherwise reflected in the fair value of such award |
|
$ |
65,443 |
|
|
$ |
21,612 |
|
|
|
|
$ |
139,135 |
|
|
$ |
35,511 |
|
|
|
|
$ |
232,446 |
|
|
$ |
51,807 |
|
|
|
|
$ |
143,377 |
|
|
$ |
23,019 |
|
|
|
|
$ |
215,470 |
|
|
$ |
39,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Compensation Actually Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-PEO NEO Average Total Compensation Amount |
$ 1,340,034
|
1,137,887
|
1,318,402
|
1,257,052
|
1,173,361
|
Non-PEO NEO Average Compensation Actually Paid Amount |
$ 1,363,893
|
454,110
|
1,605,440
|
1,082,031
|
241,559
|
Adjustment to Non-PEO NEO Compensation Footnote |
2. |
Amounts reported in this column are based upon total compensation reported for our CEO and our other NEOs in the SCT for the indicated reporting years and adjusted as shown in the table below. Fair value of equity awards was computed in accordance with the Company’s methodology used for financial reporting purposes. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCT Reported Compensation |
|
$ |
5,004,033 |
|
|
$ |
1,173,361 |
|
|
|
|
$ |
4,577,539 |
|
|
$ |
1,257,052 |
|
|
|
|
$ |
4,745,379 |
|
|
$ |
1,318,402 |
|
|
|
|
$ |
5,229,962 |
|
|
$ |
1,137,887 |
|
|
|
|
$ |
4,977,194 |
|
|
$ |
1,340,034 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCT reported change in pension value |
|
$ |
(2,290,317 |
) |
|
$ |
(335,308 |
) |
|
|
|
$ |
(905,751 |
) |
|
$ |
(170,893 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
(1,384,964 |
) |
|
$ |
(155,884 |
) |
|
|
|
$ |
(528,636 |
) |
|
$ |
(142,187 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
985,475 |
|
|
$ |
73,716 |
|
|
|
|
$ |
6,658 |
|
|
$ |
118,549 |
|
|
|
|
$ |
3,813 |
|
|
$ |
115,378 |
|
|
|
|
$ |
804 |
|
|
$ |
35,117 |
|
|
|
|
$ |
422 |
|
|
$ |
51,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grant date fair values of equity awards reported in “Stock Awards” column of the SCT for the covered FY |
|
$ |
(1,778,775 |
) |
|
$ |
(432,640 |
) |
|
|
|
$ |
(1,986,445 |
) |
|
$ |
(443,078 |
) |
|
|
|
$ |
(2,923,157 |
) |
|
$ |
(642,502 |
) |
|
|
|
$ |
(2,728,537 |
) |
|
$ |
(505,521 |
) |
|
|
|
$ |
(2,854,069 |
) |
|
$ |
(530,051 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For any awards granted in any prior FY forfeited during the covered FY, the fair value at the end of the prior FY |
|
$ |
— |
|
|
$ |
(10,089 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
$ |
— |
|
|
$ |
(104,376 |
) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair values as of the end of the covered FY of all equity awards granted during the covered FY outstanding and unvested as of the end of such covered FY |
|
$ |
798,823 |
|
|
$ |
154,306 |
|
|
|
|
$ |
1,865,542 |
|
|
$ |
416,058 |
|
|
|
|
$ |
2,626,495 |
|
|
$ |
577,278 |
|
|
|
|
$ |
1,767,071 |
|
|
$ |
242,652 |
|
|
|
|
$ |
3,213,321 |
|
|
$ |
596,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The change in fair value (whether positive or negative) as of the end of the covered FY of any equity awards granted in any prior FY outstanding and unvested as of the end of such covered FY |
|
$ |
(249,034 |
) |
|
$ |
(176,959 |
) |
|
|
|
$ |
(192,645 |
) |
|
$ |
(63,103 |
) |
|
|
|
$ |
268,274 |
|
|
$ |
61,234 |
|
|
|
|
$ |
(1,518,971 |
) |
|
$ |
(240,617 |
) |
|
|
|
$ |
(454,563 |
) |
|
$ |
(77,953 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For awards granted and vested in the same FY, the fair value as of the vesting date |
|
$ |
109,542 |
|
|
$ |
23,708 |
|
|
|
|
$ |
179,733 |
|
|
$ |
40,100 |
|
|
|
|
$ |
217,488 |
|
|
$ |
63,451 |
|
|
|
|
$ |
227,735 |
|
|
$ |
58,177 |
|
|
|
|
$ |
314,212 |
|
|
$ |
58,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The change in fair value (whether positive or negative) as of the vesting date of any awards granted in any prior FY for which all applicable vesting conditions were satisfied at the end of or during the covered FY |
|
$ |
(410,431 |
) |
|
$ |
(250,148 |
) |
|
|
|
$ |
(197,784 |
) |
|
$ |
(108,165 |
) |
|
|
|
$ |
119,893 |
|
|
$ |
60,392 |
|
|
|
|
$ |
(183,866 |
) |
|
$ |
(36,344 |
) |
|
|
|
$ |
164,104 |
|
|
$ |
27,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The dollar value of any dividend equivalents or other earnings paid on stock or option awards in the covered FY prior to the vesting date not otherwise reflected in the fair value of such award |
|
$ |
65,443 |
|
|
$ |
21,612 |
|
|
|
|
$ |
139,135 |
|
|
$ |
35,511 |
|
|
|
|
$ |
232,446 |
|
|
$ |
51,807 |
|
|
|
|
$ |
143,377 |
|
|
$ |
23,019 |
|
|
|
|
$ |
215,470 |
|
|
$ |
39,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Compensation Actually Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation Actually Paid vs. Total Shareholder Return |
|
|
|
|
|
Compensation Actually Paid vs. Net Income |
|
|
|
|
|
Compensation Actually Paid vs. Company Selected Measure |
|
|
|
|
|
Total Shareholder Return Vs Peer Group |
|
|
|
|
|
Tabular List, Table |
Most Important Measures Linking Avista NEO Pay to Performance — 2024 The following are the most important financial and non-financial performance measures, as determined by the Company, that link compensation actually paid to our NEOs to the Company’s performance for the most recently completed fiscal year.
|
|
|
|
|
Total Shareholder Return Amount |
$ 95
|
86
|
104
|
96
|
87
|
Peer Group Total Shareholder Return Amount |
118
|
88
|
103
|
103
|
86
|
Net Income (Loss) |
$ 180,100,000
|
$ 171,200,000
|
$ 155,200,000
|
$ 147,300,000
|
$ 129,500,000
|
Company Selected Measure Amount |
2.39
|
2.24
|
2.12
|
2.1
|
1.9
|
PEO Name |
Dennis Vermillion
|
|
|
|
|
Measure:: 1 |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Name |
EPS
|
|
|
|
|
Measure:: 2 |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Name |
3-Year Relative TSR
|
|
|
|
|
Measure:: 3 |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Name |
Cost Per Customer
|
|
|
|
|
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
$ (2,854,069)
|
$ (2,728,537)
|
$ (2,923,157)
|
$ (1,986,445)
|
$ (1,778,775)
|
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
3,213,321
|
1,767,071
|
2,626,495
|
1,865,542
|
798,823
|
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
314,212
|
227,735
|
217,488
|
179,733
|
109,542
|
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
(454,563)
|
(1,518,971)
|
268,274
|
(192,645)
|
(249,034)
|
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
164,104
|
(183,866)
|
119,893
|
(197,784)
|
(410,431)
|
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
215,470
|
143,377
|
232,446
|
139,135
|
65,443
|
PEO | SCT reported change in pension value [Member] |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
(528,636)
|
(1,384,964)
|
0
|
(905,751)
|
(2,290,317)
|
PEO | "CAP" pension value [Member] |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
422
|
804
|
3,813
|
6,658
|
985,475
|
PEO | For any awards granted in any prior FY forfeited during the covered FY, the fair value at the end of the prior FY [Member] |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
0
|
0
|
0
|
0
|
0
|
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
(530,051)
|
(505,521)
|
(642,502)
|
(443,078)
|
(432,640)
|
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
596,766
|
242,652
|
577,278
|
416,058
|
154,306
|
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
58,361
|
58,177
|
63,451
|
40,100
|
23,708
|
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
(77,953)
|
(240,617)
|
61,234
|
(63,103)
|
(176,959)
|
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
27,739
|
(36,344)
|
60,392
|
(108,165)
|
(250,148)
|
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
39,548
|
23,019
|
51,807
|
35,511
|
21,612
|
Non-PEO NEO | SCT reported change in pension value [Member] |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
(142,187)
|
(155,884)
|
0
|
(170,893)
|
(335,308)
|
Non-PEO NEO | "CAP" pension value [Member] |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
51,637
|
35,117
|
115,378
|
118,549
|
73,716
|
Non-PEO NEO | For any awards granted in any prior FY forfeited during the covered FY, the fair value at the end of the prior FY [Member] |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
$ 0
|
$ (104,376)
|
$ 0
|
$ 0
|
$ (10,089)
|