Scott J. Lauber has been the President and CEO of WEC Energy Group since February 2022. He was appointed as part of a long-term succession plan. Before taking on this CEO role, he had a rich history with the company, joining in 1990 and taking on various leadership positions. Scott served as Senior Executive Vice President and Chief Operating Officer from June 2020, after being Chief Financial Officer for several years. His journey reflects a steady climb through the ranks as he gained extensive experience in management and operations. Notably, his total compensation in 2023 reached about $9.55 million, positioning him well in comparison to industry standards, though he received no reported bonuses that year. Interestingly, in 2022, he participated in significant stock transactions, marking monthly trading values that peaked at over $8 million. This highlights his strong belief in the company's future. His steady commitment to enhancing cash flow and earnings metrics demonstrates his focus on performance and financial health. For those interested, his educational background is not specified, but his practice and experience speak volumes.

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Scott J. Lauber

CEO of WEC Energy Group

Education

Not specified

Field of Expertise

Business & Management

Sector of Economy

Utilities

Born

January 1, 1965 - 60 years ago

CEO of WEC Energy Group for

3 years 2 months (Feb 2022 - Present)

Previous Experience

Senior Executive Vice President and Chief Operating Officer since June 1, 2020

Rivals

Competitors/colleagues of Scott J. Lauber

Warner L. Baxter

CEO of Ameren

2021 Compensation

Stock

$0.00

Salary

$1.30M

Bonus

$0.00

Other

$158.48K

Total Holdings

$23.31M

Robert M. Blue

CEO of Dominion Energy

2023 Compensation

Stock

$0.00

Salary

$1.23M

Bonus

$2.08M

Other

$189.91K

Total Holdings

$8.83M

Patricia Kessler Poppe

CEO of CMS Energy

2023 Compensation

Stock

$0.00

Salary

$1.24M

Bonus

$1.95M

Other

$23.85K

Total Holdings

$26.21M

Timothy Cawley

CEO of Consolidated Edison

2023 Compensation

Stock

$11.43M

Salary

$1.35M

Bonus

$2.26M

Other

$79.60K

Total Holdings

$23.63M

David A. Campbell

CEO of Evergy

2023 Compensation

Stock

$940.54K

Salary

$1.06M

Bonus

$0.00

Other

$60.80K

Total Holdings

$26.23M

Christopher C. Womack

CEO of Southern Company

2023 Compensation

Stock

$0.00

Salary

$1.45M

Bonus

$2.80M

Other

$110.06K

Total Holdings

$13.62M

Holdings

See how much did Scott J. Lauber make over time.

Scott J. Lauber has actively traded shares of WEC Energy, particularly between 2019 and 2024. His trading peaked in January 2022, where he executed trades valued at around $8.51 million before experiencing fluctuations in subsequent months. For instance, in March 2021, he traded stocks worth $4.63 million, reflecting his significant investment stake in the company. Notably, his trading activity shows that he has moved substantial amounts, with values varying over months, ranging from about $2.21 million to highs of over $9 million during strong performance periods. This consistent trading pattern indicates his confidence in the company's prospects, particularly as his wealth continued to shift within his holdings, adapting to market conditions over time. As of late 2024, he's still engaging in robust trading, suggesting he’s keenly attuned to market movements.

Total Stock Sold

$2.52M

WEC

$2.52M

31,790 WEC shares

What if they kept their stock?

If Scott J. Lauber didn't sell their stock, today they would have:
Extra WEC31,790 shares worth $2.93M.
This is 16.5% and $415.19K more than what they got when they sold the stock.

Insider Trading

See recent insider trades of Scott J. Lauber.

WEC

$223.25K

WEC at $78.89/share

Feb 29, 2024

Sale

WEC

12,820 shares

WEC

Jan 2, 2024

Received

WEC

6,926 shares

WEC

Jan 3, 2023

Received

WEC

$485.88K

WEC at $97.18/share

Nov 22, 2022

Sale

WEC

5,510 shares

WEC

Jan 3, 2022

Received

WEC

3,248 shares

WEC

Jan 4, 2021

Received

WEC

406 shares

WEC

Jul 1, 2020

Received

WEC

2,382 shares

WEC

Jan 2, 2020

Received

WEC

$668.18K

WEC at $88.38/share

Aug 7, 2019

Sale

WEC

$277.20K

WEC at $82.50/share

May 24, 2019

Sale

Compensation History

See how much did Scott J. Lauber make over time.

In 2023, Scott J. Lauber's total compensation package was approximately $9.55 million, with a base salary of about $1.09 million. Interestingly, there were no bonuses or vested stock options reported for that year, indicating a clear focus on cash compensation. Much of his additional compensation comes from various benefits, including retirement contributions and other perks that totaled around $504,000. In 2022, his compensation was slightly lower at $8.15 million, but still reflected a competitive salary structure. The company’s compensation philosophy aims to align executive pay with performance metrics, demonstrating a commitment to long-term shareholder value. His increase in compensation over the years illustrates a solid alignment with the company's success and growth, reinforcing the idea that effective leadership and management in the energy sector can command significant compensation.

Year

2023

Total Compensation

$1.59M

Salary

$1.09M

Board Justification

The compensation program is designed to attract and retain key individuals, aligning with company performance and market benchmarks.

Bonus

$0.00

Board Justification

No bonus was reported for 2023.

Other

$504.54K

Board Justification

Includes various perquisites and benefits such as financial planning services, 401(k) matching, and retention credits.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock grants were vested in 2023 as the focus is on cash compensation.

Performance Metrics

The performance metrics for 2023 included earnings per share and cash flow, with maximum payouts achieved.

Other WEC Energy Group CEOs

Here are other CEOs of WEC Energy Group

J. Kevin Fletcher

Ex-CEO of WEC Energy Group

October 2018 - February 2022