Dominion Energy (D) has released an update to notify the public and investors about its officers.
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The Dominion Energy Compensation and Talent Development Committee approved the 2024 Annual Incentive Plan and Long-Term Incentive Program, under which officers are eligible for performance-based cash awards and stock grants. The plan sets target incentive awards based on a percentage of base salary, with the possibility of funding ranging from 0% to 200%. The Long-Term Incentive Program has altered its award structure to focus more heavily on performance grants with adjusted metrics, emphasizing total shareholder return among other performance goals. The awards for the CEO are entirely performance-based, with total shareholder return being the critical metric. Additionally, the promotions of Carlos M. Brown and Steven D. Ridge were announced, including their new compensation arrangements effective January 1, 2024.
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