AEP discloses CEO and Executive Chair compensation for Jan 1, 2023 transition

AMERICAN ELECTRIC POWER CO INC

Julia Sloat to become CEO Jan 1, 2023; base salary of $1.2M and annual LTI grant of $8M.
Sloat's target annual incentive is 140% of base salary; LTI mix 75% performance shares, 25% RSUs.
Nicholas Akins to become Executive Chair Jan 1, 2023; base salary of $1.15M and annual LTI grant of $2M in RSUs.
Akins' RSUs vest ratably over three years with dividend credits; target annual incentive 135% of base salary.

item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Nicholas K. Akins

Chief Executive Officer

AEP · AMERICAN ELECTRIC POWER CO INC

Effective: 2022-12-31
Successor: Julia A. Sloat
Filed: December 8, 2022, 6:59 PM ET

Nicholas K. Akins, Chair of the Board, Chief Executive Officer and President of AEP, would resign as President of the Company effective August 10, 2022, and, effective as of December 31, 2022, resign as Chief Executive Officer of the Company

Appointed

Nicholas K. Akins

Executive Chair of the Board

AEP · AMERICAN ELECTRIC POWER CO INC

Effective: 2023-01-01
Filed: December 8, 2022, 6:59 PM ET

Mr. Akins would be elected as Executive Chair of the Board of Directors of the Company (“Board”), effective January 1, 2023

Role change

Julia A. Sloat

President and Chief Executive Officer

AEP · AMERICAN ELECTRIC POWER CO INC

Effective: 2023-01-01
Filed: December 8, 2022, 6:59 PM ET

Julia A. Sloat would be elected President and Chief Financial Officer of the Company, effective as of August 10, 2022, and as its President and Chief Executive Officer, effective as of January 1, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Nicholas K. Akins resigned as Chief Executive Officer at AMERICAN ELECTRIC POWER CO INC.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Nicholas K. Akins, Chair of the Board, Chief Executive Officer and President of AEP, would resign as President of the Company effective August 10, 2022, and, effective as of December 31, 2022, resign as Chief Executive Officer of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Nicholas K. Akins was elected as Executive Chair of the Board at AMERICAN ELECTRIC POWER CO INC.

Action: elected
Role: Executive Chair of the Board

Exact text from the filing

Mr. Akins would be elected as Executive Chair of the Board of Directors of the Company (“Board”), effective January 1, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Julia A. Sloat was elected as President and Chief Executive Officer at AMERICAN ELECTRIC POWER CO INC.

Action: elected
Role: President and Chief Executive Officer

Exact text from the filing

Julia A. Sloat would be elected President and Chief Financial Officer of the Company, effective as of August 10, 2022, and as its President and Chief Executive Officer, effective as of January 1, 2023

View on SEC.gov

AMERICAN ELECTRIC POWER CO INC filing history →

Source: SEC EDGAR

accession 0000004904-22-000129

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