The PCC takes a balanced approach to executive compensation. Our executive compensation package is comprised of several key components which are designed to work together to provide executives with a total compensation package that is competitive with industry norms. For 2024, total compensation included:
| • | Short-Term – annual incentive bonus |
| • | Long-Term – restricted stock units, performance cash and performance stock |
| • | Executive retirement plan and 401(k) savings plan |
| • | Executive life insurance and post-retirement life insurance (grandfathered for executives serving prior to 2019 only) |
| • | Perquisite allowance (grandfathered for executives serving prior to 2016 only) |
Each of these components of the executive compensation package is discussed below.
