Pacific Gas And Electric Co logo

PCG PR H - Pacific Gas And Electric Co News Story

$22.31 0.0  0.0%

Sector
Utilities
Size
Large Cap
Market Cap £4.20bn
Enterprise Value £30.02bn
Revenue £13.44bn
Position in Universe th / 6856

BRIEF-PG&E Says Board Approved Revision To Terms Of Certain Equity Awards To Be Granted To CEO

Thu 20th June, 2019 11:28am
June 20 (Reuters) - PG&E Corp  PCG.N :
    * PG&E - BOARD APPROVED REVISION TO TERMS OF CERTAIN EQUITY
AWARDS
TO BE GRANTED TO CEO WILLIAM JOHNSON
    * PG&E CORP - REVISIONS APPLY TO JOHNSON’S 2019
PERFORMANCE-BASED
AWARDS
    * PG&E - ON JUNE 19, DEBTORS FILED MOTION WITH BANKRUPTCY
COURT
SEEKING APPROVAL OF KEIP
    * PG&E - JOHNSON’S 2019 PERFORMANCE-BASED AWARDS WILL BE
SUBJECT
TO PUBLIC SAFETY INDEX MODIFIER OF 25% & 50% IF PSI DOES NOT
REACH TARGET LEVELS
    * PG&E -  IF, FOR 2019 PERIOD, AGGREGATE SCORE FOR THE PSI
IS
BELOW THRESHOLD, TOTAL PAYOUT FOR JOHNSON’S 2019
PERFORMANCE-BASED AWARDS WILL BE CUT 50%
    * PG&E - JOHNSON, CO'S CEO AND PRESIDENT, IS NOT ELIGIBLE
FOR AN
AWARD UNDER KEIP
    * PG&E - IF, FOR 2019, TOTAL SCORE FOR PSI IS AT OR ABOVE
THRESHOLD BUT BELOW TARGET, PAYOUT FOR JOHNSON’S 2019
PERFORMANCE-BASED AWARDS WILL BE CUT 25%
    * PG&E -  KEY EMPLOYEE INCENTIVE PROGRAM IS PROPOSED TO BE
EFFECTIVE IN 2019
    * PG&E -  UNDER KEIP, SOME OFFICERS OTHER THAN CEO, ARE
ELIGIBLE
TO COLLECTIVELY RECEIVE INCENTIVE-BASED AWARDS WITH TARGET VALUE
OF ABOUT $10.9 MILLION
    * PG&E -  POTENTIAL AWARDS CONSIST OF 50% CASH AND 50%
PRSUS, WITH
THE PRSU COMPONENT BEING SETTLED IN CASH OR STOCK AT THE BOARD’S
ELECTION.

Source text: (https://bit.ly/2x4RZRp)
Further company coverage:  PCG.N 

 ((Reuters.Briefs@thomsonreuters.com;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.