John W. Somerhalder II has been a key figure at FirstEnergy Corp, stepping into the role of Interim President and CEO in 2022 while previously serving as Vice Chair and Executive Director. His leadership at FirstEnergy has been marked by...

Number of Employees

8.83K

Year

2023

Total Compensation

$9.58M

Salary

$1.50M

Board Justification

The compensation philosophy focuses on aligning executive compensation with performance, ensuring market competitiveness, and retaining key talent.

Bonus

$0.00

Board Justification

The short-term incentive plan for 2023 was based on achieving a non-GAAP Adjusted EPS goal, with a maximum payout of 200% of target, but was reduced to 175% due to negative discretion exercised by the Compensation Committee.

Other

$742.42K

Board Justification

Other compensation includes various benefits such as security-related services and financial planning services.

Restricted Stock

$7.34M(256.93K RSU)

Board Justification

The stock awards that vested in 2023 include 256,934 shares that were granted in previous years and vested on December 31, 2023.

Performance Metrics

The performance metrics for 2023 included non-GAAP Adjusted EPS and diversity, equity, and inclusion goals.

SEC Filing

From March 15, 2024