DOMINION ENERGY, INC
For the period ended May 7, 2025. Filed Mar 28, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 7, 2025 · Filed Mar 28, 2025
Contents
Pay versus Performance
In this section, we provide information about the relationship between the compensation paid to our NEOs and the financial performance of the company, as required by SEC rules. The following table shows the past five fiscal years’ total compensation for our CEO and other NEOs (expressed as an average) as set forth in the Summary Compensation Table, the total compensation actually paid (CAP) to our CEO and other NEOs (expressed as an average), our TSR, our peer group’s TSR over the same period, our net income and our operating EPS.
Pay vs. Performance Table
| AverageSummary · Average · Value of Initial Fixed $100Investment Based On: | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year · SummaryCompensationTable Total forCEO(1) ($) · CompensationActually Paidto CEO(1)(6) ($) · SummaryCompensationTable Total forCEO(2) ($) · CompensationActually Paidto CEO(2)(6) ($) · CompensationTable Totalfor Non-CEONEOs(3) ($) · CompensationActually Paidto Non-CEONEOs(3)(6) ($) · TotalShareholderReturn(4) ($) · Peer GroupTotalShareholderReturn(4) ($) · NetIncome(5) ($)(in millions) · OperatingEarnings PerShare(5) ($) | ||||||||||||||||||
| 2024 | 12,904,625 | 13,741,422 | N/A | N/A | 3,578,383 | 3,743,524 | 81 | 138 | 2,124 | 2.77 | ||||||||
| 2023 | 6,278,835 | 2,851,310 | N/A | N/A | 2,525,850 | 1,690,381 | 67 | 112 | 2,031 | 1.95 | ||||||||
| 2022 | 6,794,985 | 5,095,318 | N/A | N/A | 2,042,074 | 1,260,497 | 83 | 120 | 1,191 | 3.16 | ||||||||
| 2021 | 8,161,083 | 7,796,007 | N/A | N/A | 5,002,308 | 4,186,674 | 102 | 119 | 3,399 | 2.89 | ||||||||
| 2020 | 7,912,643 | 6,307,480 | 16,040,625 | 15,518,646 | 3,960,554 | 3,207,595 | 95 | 101 | (401) | 2.68 | ||||||||
(1)
The amounts in these columns reflect the Summary Compensation Table and Compensation Actually Paid totals, respectively, for Mr. Blue for fiscal years 2020–2024. Mr. Blue became CEO on October 1, 2020. See footnote 6 below for additional information on how CAP is calculated.
(2)
The amounts in these columns reflect the Summary Compensation Table and Compensation Actually Paid totals, respectively, for Mr. Thomas F. Farrell, II, who was CEO until October 1, 2020. As he was CEO for a portion of 2020, information is included for the year 2020. See footnote 6 below for additional information on how CAP is calculated.
(3)
The amounts in these columns reflect the average Summary Compensation Table and average Compensation Actual Paid totals, respectively, for our non-CEO NEOs. For 2024, our non-CEO NEOs were Messrs. Ridge, Brown and Baine and Ms. Leopold. For 2023, our non-CEO NEOs were Messrs. Ridge, Brown, Baine, Mr. Daniel G. Stoddard and Ms. Leopold. For 2022, our non-CEO NEOs were Messrs. Ridge, Stoddard, Brown, Mr. James R. Chapman and Ms. Leopold. For 2021, our non-CEO NEOs were Messrs. Chapman, Stoddard, Brown and Farrell; and Ms. Leopold. For 2020, our non-CEO NEOs were Messrs. Chapman, Stoddard and Brown and Ms. Leopold. See footnote 6 below for additional information on how CAP is calculated.
(4)
The calculation of TSR is based on the value of an initial fixed investment of $100 from the beginning of 2020 through the end of 2024 in the table, assuming reinvestment of dividends. The peer group TSR is represented by the S&P 500 Utilities Index.
(5)
See Reconciliation of Reported Earnings (GAAP) to Operating Earnings (non-GAAP) in Appendix A.
(6)
SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine CAP as reported in the Pay vs. Performance Table. The following table details these adjustments:
| Year | Executives | SummaryCompensationTable Total ($) | DeductChangein PensionValue ($) | Deduct StockAwards ($) | Add PensionValuationAdjustment(a) ($) | Add EquityAwardAdjustment(b) ($) | CAP ($) |
|---|---|---|---|---|---|---|---|
| 2024 | CEO | 12,904,625 | 795,805 | 8,526,987 | 286,866 | 9,872,723 | 13,741,422 |
| Other NEOs | 3,578,383 | 299,808 | 1,685,303 | 110,840 | 2,039,412 | 3,743,524 |
(a)
SEC rules require certain adjustments be made to pension compensation totals to determine CAP. The following table details these adjustments:
| Year | Executives | Pension ServiceCost Adjustment ($) | Prior Service CostAdjustment ($) | Pension ValuationAdjustment ($) |
|---|---|---|---|---|
| 2024 | CEO | 286,866 | 0 | 286,866 |
| Other NEOs | 110,840 | 0 | 110,840 |
(b)
SEC rules require certain adjustments be made to equity award totals to determine CAP. The following table details these adjustments:
| Unvested Awards · Vested Awards | ||||||||
|---|---|---|---|---|---|---|---|---|
| Year | Executives | Year End FairValue of EquityAwards GrantedDuring Year andOutstandingand Unvestedat Year End ($) | Year over YearChange inFair Value ofOutstandingand UnvestedEquity Awardsat Year End($) | Fair Value asof VestingDate of EquityAwardsGranted andVested DuringYear ($) | Change as ofVesting Datefrom Prior YearEnd of PriorAwards thatVested DuringYear ($) | DeductForfeitedAwards (FairValue at Endof Prior Year)($) | Value ofDividendsand EarningsPaid ($) | EquityAwardAdjustment($) |
| 2024 | CEO | 9,494,853 | 279,091 | — | (14,621) | — | 113,400 | 9,872,723 |
| Other NEOs | 1,865,072 | 108,052 | — | 3,919 | — | 62,369 | 2,039,412 | |
DOMINION ENERGY | 2025 PROXY STATEMENT 77
Relationship between Performance Measures and Compensation Actually Paid
The following charts provide a graphic representation of the relationship between executive compensation actually paid to the company’s CEO and other NEOs (expressed as an average) and the performance measures included in the Pay vs. Performance Table (TSR, Peer Group TSR, Net Income and Operating EPS).
CAP vs. TSR
CAP vs. Net Income
CAP vs. Operating Earnings Per Share
Most Important Performance Measures Table
The three items listed below represent the most important performance measures we used to link compensation actually paid to our NEOs for 2024 to company performance, as further described in the Annual Incentive Planand the Long-Term Incentive Program sections of our CD&A.
| Operating Earnings Per Share | Relative Total Shareholder Return | 3-Year Cumulative Operating Earnings Per Share |
|---|
78 DOMINION ENERGY | 2025 PROXY STATEMENT
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