Tennessee Valley Authority
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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FY2025 · Filed Nov 13, 2025
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Nonqualified Deferred Compensation
The following table provides information regarding deferred contributions, earnings, and balances for each of the NEOs. The amounts reported under this table do not represent compensation in addition to the compensation that was earned in 2025 and already reported in the Summary Compensation Table, but rather the amounts of compensation earned by the NEOs in 2025 or prior years that were or have been deferred.
| Nonqualified Deferred Compensation Table | ||||||||
|---|---|---|---|---|---|---|---|---|
| Name · ExecutiveContributions in 2025 · RegistrantContributions in 2025(1) · AggregateEarnings in 2025(2) · AggregateWithdrawals/Distributions · AggregateBalance atSeptember 30, 2025 | ||||||||
| Donald A. Moul | $— | $— | $— | $— | $— | |||
| Jeffrey J. Lyash | — | — | — | — | — | |||
| Thomas C. Rice | — | 70,493 | 4,797 | (7) | — | 111,720 | (10) | |
| John M. Thomas, III | — | — | — | — | — | |||
| Matthew M. Rasmussen | 40,431 | (3) | 47,451 | 38,277 | (7) | — | 335,450 | (10) |
| Rebecca C. Tolene | 254,402 | (4) | 308,444 | 74,934 | (8) | — | 879,841 | (10) |
| Jeremy P. Fisher | — | 38,127 | 9,084 | (7) | — | 115,641 | (10) | |
| Timothy S. Rausch | 71,050 | (5) | — | 10,296 | (9) | — | 181,972 | (10) |
| David B. Fountain | 92,851 | (6) | — | 14,048 | (9) | 21,262 | 131,376 | (10) |
Notes
(1) All amounts are included in the Summary Compensation Table as compensation for 2025. The amount for Ms. Tolene represents a discretionary contribution of $275,000 and a restoration contribution of $33,444. The amounts for the other NEOs represent restoration contributions. The restoration contributions will be credited to the applicable plan accounts in 2026.
(2) Includes vested earnings. Because none of the amounts are above market or preferential earnings under SEC rules, none of these amounts are included in the Summary Compensation Table.
(3) Represents vested contributions of $40,431 under the Restoration Plan. This amount is included in the Summary Compensation Table as compensation for 2025.
(4) Represents vested contributions of $173,538 under the Deferred Compensation Plan and vested contributions of $80,864 under the Restoration Plan. $218,888 is included in the Summary Compensation Table as compensation for 2025.
(5) Represents vested contributions of $71,050 under the Deferred Compensation Plan. This amount is included in the Summary Compensation Table as compensation for 2025.
(6) Represents vested contributions of $92,851 under the Deferred Compensation Plan. $38,815 is included in the Summary Compensation Table as compensation for 2025.
(7) Represents vested earnings in the Restoration Plan.
(8) Represents vested earnings of $22,858 in the Deferred Compensation Plan and vested earnings of $52,076 in the Restoration Plan.
(9) Represents vested earnings in the Deferred Compensation Plan.
(10) Includes vested contributions and earnings. The following amounts have been reported in the Summary Compensation Table as compensation for a prior fiscal year: for Mr. Rice, Mr. Rasmussen, Ms. Tolene, and Mr. Fisher, $0; for Mr. Rausch, $80,717; and for Mr. Fountain, $90,432.
TVA's compensation plans may allow participants to defer all or a portion of compensation earned under the plans as defined by plan terms and IRS regulations. All deferrals are credited to each participant in a deferred compensation account, and the deferral amounts are then funded into a rabbi trust. Each participant may elect one or more investment options made available by TVA or allow some or all funds to accrue interest at the rate established by the beginning of each fiscal year equal to the composite rate of all Treasury issues. Participants may elect to change from either one notional investment option or the TVA interest bearing option to another at any time. Generally, upon termination of employment, funds are distributed pursuant to elections made in accordance with applicable IRS regulations.
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