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Share Name | Share Symbol | Market | Type |
---|---|---|---|
PG&E Corporation | NYSE:PCG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.04 | 0.23% | 17.57 | 17.85 | 17.425 | 17.74 | 12,844,878 | 01:00:00 |
Commission
File
Number
|
Exact Name of Registrant
as specified in its charter
|
State or Other Jurisdiction
of Incorporation or
Organization
|
IRS Employer
Identification
Number
|
|||
1-12609
|
PG&E CORPORATION
|
California
|
94-3234914
|
|||
1-2348
|
PACIFIC GAS AND ELECTRIC COMPANY
|
California
|
94-0742640
|
77 Beale Street
P.O. Box 770000
San Francisco, California 94177
(Address of principal executive offices) (Zip Code)
(415) 973-1000
(Registrant's telephone number, including area code)
|
77 Beale Street
P.O. Box 770000
San Francisco, California 94177
(Address of principal executive offices) (Zip Code)
(415) 973-7000
(Registrant's telephone number, including area code)
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
• |
Performance shares subject to goals based on PG&E Corporation’s total shareholder return (“TSR”) measured by stock price appreciation and dividends over the three-year performance period, as compared to the TSR of comparator companies during the same period. This component will comprise 50% of the total LTIP award value.
|
• |
Performance shares subject to safety and financial goals, which will comprise 10% of the total LTIP award value. These goals are equally weighted and are defined as follows:
|
◦ |
Safety: this goal is defined as the number of repeat “Serious Injuries and Fatalities” (“SIF”) actual or potential injury or near-hit events per 200,000 hours worked during the 36-month performance period;
|
◦ |
Financial: under this goal, recorded earnings from operations per share is compared to the midpoint of each year’s guidance range to calculate an annual score, and the results are averaged for each of 2017, 2018, and 2019. (See definition of “earnings from operations” in footnote 12 in the 2017 Short-Term Incentive Plan table below.)
|
Weight
|
2017 STIP Performance Measures
|
Threshold
|
Target
|
Maximum
|
||||||||||
50%
|
|
Safety
|
||||||||||||
Nuclear Operations
|
||||||||||||||
Diablo Canyon Power Plant (DCPP) Reliability and Safety Indicator (1)
|
||||||||||||||
4%
|
|
DCPP Unit 1 Score
|
85.3
|
90.5
|
95.8
|
|||||||||
4%
|
|
DCPP Unit 2 Score
|
85.3
|
87.6
|
90.0
|
|||||||||
Electric Operations
|
||||||||||||||
5%
|
|
Electric Overhead Conductor Index (2)
|
0.500
|
1.000
|
2.000
|
|||||||||
5%
|
|
911 Emergency Response (3)
|
95.0
|
%
|
97.5
|
%
|
98.5
|
%
|
||||||
Gas Operations
|
||||||||||||||
6%
|
|
Gas In-Line Inspection and Upgrade Index (4)
|
0.500
|
1.000
|
2.000
|
|||||||||
5%
|
|
Gas Dig-ins Reduction (5)
|
2.02
|
1.92
|
1.82
|
|||||||||
5%
|
|
Gas Emergency Response (6)
|
22.0
|
21.0
|
20.0
|
|||||||||
Employee Safety
|
||||||||||||||
6%
|
|
Serious Injuries and Fatalities Corrective Action Index (7)
|
0.500
|
1.000
|
2.000
|
|||||||||
6%
|
|
Serious Preventable Motor Vehicle Incident Rate (8)
|
0.252
|
0.239
|
0.224
|
|||||||||
4%
|
|
Timely Reporting of Injuries (9)
|
67.3
|
%
|
71.3
|
%
|
75.3
|
%
|
||||||
25%
|
|
Customer
|
||||||||||||
15%
|
|
Customer Satisfaction Score (10)
|
75.9
|
76.4
|
77.9
|
|||||||||
10%
|
|
System Average Interruption Duration Index (11)
|
110.2
|
107.0
|
104.7
|
|||||||||
25%
|
|
Financial
|
||||||||||||
25%
|
|
Earnings from Operations (12)
|
*
|
*
|
*
|
*
|
The 2017 target for earnings from operations is not publicly reported.
|
Officer
|
Title Changes Effective March 1, 2017
|
Total LTIP Award Value
|
Base Salary
(1)
|
2017 STIP Participation Rate (% of Base Salary)
|
||||||||||
Anthony F. Earley, Jr.
|
Executive Chair of the Board, PG&E Corporation
|
$
|
3,000,000
|
$
|
1,000,000
|
100
|
%
|
|||||||
Geisha J. Williams
|
Chief Executive Officer and President, PG&E Corporation
|
6,500,000
|
1,050,000
|
125
|
%
|
|||||||||
Nickolas Stavropoulos (2)
|
President and Chief Operating Officer, Utility
|
4,250,000
|
800,000
|
80
|
%
|
|||||||||
Jason P. Wells
|
No change
|
2,000,000
|
600,000
|
75
|
%
|
|||||||||
Hyun Park
|
Senior Vice President and Special Counsel to the Chairman, PG&E Corporation
|
1,000,000
|
638,800
|
65
|
%
|
|||||||||
Dinyar B. Mistry
|
Senior Vice President, Human Resources and Chief Diversity Officer, PG&E Corporation and Utility
|
800,000
|
465,000
|
55
|
%
|
|||||||||
David S. Thomason
|
No change
|
300,000
|
300,000
|
40
|
%
|
PG&E CORPORATION
|
|||
By:
|
/s/ LINDA Y.H. CHENG
|
||
Dated: February 17, 2017
|
LINDA Y.H. CHENG
Vice President, Corporate Governance and
Corporate Secretary
|
||
PACIFIC GAS AND ELECTRIC COMPANY
|
|||
By:
|
/s/ LINDA Y.H. CHENG
|
||
Dated: February 17, 2017
|
LINDA Y.H. CHENG
Vice President, Corporate Governance and
Corporate Secretary
|
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