OGE ENERGY CORP.
For the period ended Apr 1, 2025. Filed Apr 1, 2025.
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Apr 1, 2025 · Filed Apr 1, 2025
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Summary Compensation Table
The following table provides information regarding compensation paid or to be paid by us or any of our subsidiaries to the president and CEO, each person who served as the chief financial officer during 2024 and the three other most highly compensated executive officers at December 31, 2024.
| Name andPrincipal Position | Year | Salary ($) | Bonus ($) | Stock Awards ($)(1) | Option Awards ($) | Non-Equity Incentive PlanCompensation ($)(2) | Change in Pension Value and NonqualifiedDeferredCompensationEarnings ($)(3) | All OtherCompensation($)(4) | Total($) |
|---|---|---|---|---|---|---|---|---|---|
| (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | (j) |
| S. Trauschke | 2024 | $1,204,632 | $— | $5,099,875 | $— | $1,715,866 | $1,935,557 | $173,019 | $10,128,949 |
| Chairman, President and Chief | 2023 | $1,158,290 | $— | $4,533,361 | $— | $1,485,597 | $1,103,668 | $154,250 | $8,435,166 |
| Executive Officer of | 2022 | $1,103,128 | $— | $4,340,655 | $— | $1,205,189 | $496,397 | $158,220 | $7,303,589 |
| the Company | |||||||||
| C. Walworth (5) | 2024 | $348,691 | $— | $332,173 | $— | $203,184 | $52,218 | $31,057 | $967,323 |
| Chief Financial Officer and Treasurer | |||||||||
| of the Company | |||||||||
| B. Buckler (5) | 2024 | $341,413 | $— | $862,455 | $— | $— | $— | $65,172 | $1,269,040 |
| Former Chief Financial Officer | 2023 | $489,715 | $100,000 | $798,635 | $— | $399,699 | $— | $83,308 | $1,871,357 |
| of the Company | 2022 | $466,398 | $50,000 | $764,655 | $— | $324,259 | $— | $71,692 | $1,677,004 |
| W. Sultemeier | 2024 | $517,400 | $— | $766,669 | $— | $435,488 | $— | $90,579 | $1,810,136 |
| General Counsel, Corporate | 2023 | $497,494 | $— | $703,121 | $— | $377,045 | $— | $82,603 | $1,660,263 |
| Secretary and Chief Compliance | 2022 | $473,803 | $— | $673,200 | $— | $305,878 | $— | $72,947 | $1,525,828 |
| Officer of the Company | |||||||||
| D. Jones | 2024 | $454,563 | $— | $721,679 | $— | $412,030 | $1,512 | $35,635 | $1,625,419 |
| Vice President, Utility | 2023 | $437,070 | $— | $665,258 | $— | $356,731 | $1,122 | $34,909 | $1,495,090 |
| Operations of OG&E | 2022 | $404,706 | $— | $575,039 | $— | $281,368 | $— | $32,465 | $1,293,578 |
| D. Parker | 2024 | $367,557 | $— | $389,020 | $— | $214,177 | $46,703 | $33,708 | $1,051,165 |
| Vice President, Technology, Data | |||||||||
| and Security of OG&E | |||||||||
(1)
For 2024, amounts in this column reflect the grant date fair value amount of equity-based performance units and restricted stock units granted. The grant date fair value amount of the performance units is based on a probable value of these awards, or target value, of 100 percent payout. The grant date fair value of the restricted stock units is based on 100 percent payout at vesting. The grants of long-term incentives consisted of (i) 65 percent in the form of performance units, the payout of which is dependent upon the Company's TSR over a three-year period measured against the TSR for such period by a peer group selected by the Compensation Committee and (ii) 35 percent in the form of restricted stock units that vest, assuming continued employment through the three-year vesting period. In the case of TSR, the performance units will pay out from 0 to 200 percent of the target amount, depending upon performance of the applicable performance goal. The assumptions used in the valuation are discussed in Note 6 to our Consolidated Financial Statements included in our Form 10-K for the year ended December 31, 2024. Assuming achievement of the performance goals at the maximum level of 200 percent for performance units based on TSR and 100 percent for restricted stock units, the grant date fair value of the units granted in 2024 and included in this column would be: Mr. Trauschke, $8,518,911; Mr. Walworth, $554,864; Mr. Buckler, $1,440,662; Mr. Sultemeier, $1,280,650; Mr. Jones, $1,205,502 and Mr. Parker, $649,829. Due to his resignation in August 2024, Mr. Buckler forfeited all of his outstanding restricted stock units and performance units, including those granted in 2024 with a grant date fair value of $1,440,662 assuming maximum payout as discussed in the immediately preceding sentence, and he received no long-term incentive compensation for 2024.
(2)
Amounts in this column reflect payments under our Annual Incentive Plan for achievement of 2024 performance goals.
(3)
Amounts in this column reflect the actuarial increase in the present value of the Named Executive Officers benefits under all pension plans established by the Company determined using interest rate and mortality rate assumptions consistent with those used in Note 11 to our Consolidated Financial Statements included in our Form 10-K for the year ended
41 OGE Energy Corp.2025 Proxy Statement
December 31, 2024 and includes amounts which the Named Executive Officer may not currently be entitled to receive because such amounts are not vested. Mr. Sultemeier is not eligible to participate in the Pension Plan.
(4)
Amounts in this column for 2024 reflect: (i) for Mr. Trauschke, $161,414 (401(k) Plan and Deferred Compensation Plan), $484 (insurance premiums) and $11,121 (payment for annual physical exam, use of a company car, payment of social membership dining and country club dues); (ii) for Mr. Walworth, $30,672 (401(k) Plan and Deferred Compensation Plan) and $385 (insurance premiums); (iii) for Mr. Buckler, $64,142 (401(k) Plan and Deferred Compensation Plan), $334 (insurance premiums) and $696 (payment for an annual physical exam); (iv) Mr. Sultemeier, $89,444 (401(k) Plan and Deferred Compensation Plan), $385 (insurance premiums) and $750 (payment for an annual physical exam); (v) Mr. Jones, $34,500 (401(k) Plan), $385 (insurance premiums) and $750 (payment for an annual physical exam); and (vi) Mr. Parker, $32,573 (401(k) Plan and Deferred Compensation Plan), $385 (insurance premiums) and $750 (payment for an annual physical exam). A significant portion of the insurance premiums reported for each of these individuals is for life insurance policies and such premiums are recovered by the Company from the proceeds of the policies. Amounts shown as 401(k) Plan and Deferred Compensation Plan represent Company contributions for the individual under those plans. Amounts in the column include the value of the perquisites for the Named Executive Officers, but, in each instance the amount was less than $12,000 in 2024.
(5)
Mr. Walworth was named interim Chief Financial Officer in August 2024 and Chief Financial Officer and Treasurer in December 2024. Mr. Buckler served as Chief Financial Officer until his resignation in August 2024.
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