CONSOLIDATED EDISON INC
For the period ended May 20, 2024. Filed Apr 10, 2024.
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May 20, 2024 · Filed Apr 10, 2024
ED$118.56-2.4%Stored close · as of Nov 6, 2026
Contents
Changes to Incentive Programs for 2023
Changes to Incentive Programs for 2023 and 2024
| ▪ | Executive Incentive Plan Changes. In November 2023, the Management Development and Compensation Committee of the Board of Directors (the “MD&C Committee”) approved the Consolidated Edison, Inc. Executive Performance Incentive Plan, amended and restated, effective January 1, 2024, which provides for the annual incentive for the Named Executive Officers. This amended plan eliminates the detailed provisions specifying performance goals, target levels and weighting in the prior plan and replaces them with more flexible provisions by which the MD&C Committee will approve, on an annual basis, the specific performance goals, targets and incentive percentages for participants in the plan for that year. In addition, the amended plan adds other clarifying and administrative provisions to reflect market practices. |
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| ▪ | Amended Stock Purchase Plan. Proposal No. 4 calls for the approval of the Consolidated Edison, Inc. Stock Purchase Plan, as amended and restated (the “Stock Purchase Plan”) in light of the pending expiration of the Company’s current stock purchase plan (the “Expiring Stock Purchase Plan”). The Stock Purchase Plan authorizes the issuance of ten million (10,000,000) shares of Company Common Stock and a ten-year extension of the term through May 20, 2034. The Stock Purchase Plan also includes updates reflecting market practice with respect to certain plan governance, administrative and operational provisions, and, as designed, purchases made under the Stock Purchase Plan are intended to be exempt purchases for purposes of the reporting and liability requirements pursuant to Section 16 of the Securities Exchange Act of 1934. The Stock Purchase Plan is subject to stockholder approval at the 2024 Annual Meeting and will be effective on the date of stockholder approval. |
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Consolidated Edison, Inc. Proxy Statement 5
| | | PROXY STATEMENT SUMMARY |
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