AEP names Bill Fehrman CEO effective Aug 1; Fowke becomes senior advisor, Goodspeed resigns from board

AMERICAN ELECTRIC POWER CO INC

William J. Fehrman elected CEO and President effective Aug 1, 2024; previously CEO of Centuri Holdings and Berkshire Hathaway Energy.
Fehrman receives base salary of $1.5M, STI target 155% of salary, and LTI target $10.5M annually (75% performance shares, 25% RSUs).
Fehrman also gets $2M sign-on cash, $4M RSUs to replace forfeited equity, and $1.15M in March 2025 for forfeited STI from prior employer.
Benjamin Fowke resigns as interim CEO July 31 but remains board member and senior advisor; receives $1M unrestricted AEP shares per month during transition.
Linda Goodspeed resigns from board effective July 31, 2024 for personal reasons; no disagreement with company.

item 5.02 item 7.01 item 9.01

Executive movements

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

Role change

Benjamin G. S. Fowke

Senior Advisor

AEP · AMERICAN ELECTRIC POWER CO INC

Effective: 2024-08-01
Successor: William J. Fehrman
Filed: June 26, 2024, 7:59 PM ET

Also on June 24, 2024, Benjamin G. S. Fowke notified the Company that he will resign as Interim Chief Executive Officer and Interim President effective July 31, 2024. Effective August 1, 2024, Mr. Fowke was elected Senior Advisor by the Board for a transition period to be determined by the Board, and during that transition period he will continue to serve as an executive and employee of the Company.

Appointed

William J. Fehrman

director

AEP · AMERICAN ELECTRIC POWER CO INC

Effective: 2024-08-01
Filed: June 26, 2024, 7:59 PM ET

Mr. Fehrman also was elected to serve as a director of the Company effective August 1, 2024.

Appointed

William J. Fehrman

Chief Executive Officer and President

AEP · AMERICAN ELECTRIC POWER CO INC

Effective: 2024-08-01
Filed: June 26, 2024, 7:59 PM ET

On June 24, 2024, William J. Fehrman was elected Chief Executive Officer and President of American Electric Power Company, Inc. (“AEP” or the “Company”) effective as of August 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Benjamin G. S. Fowke was elected as Senior Advisor at AMERICAN ELECTRIC POWER CO INC.

Action: elected
Role: Senior Advisor

Exact text from the filing

Also on June 24, 2024, Benjamin G. S. Fowke notified the Company that he will resign as Interim Chief Executive Officer and Interim President effective July 31, 2024. Effective August 1, 2024, Mr. Fowke was elected Senior Advisor by the Board for a transition period to be determined by the Board, and during that transition period he will continue to serve as an executive and employee of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

William J. Fehrman was elected as director at AMERICAN ELECTRIC POWER CO INC.

Action: elected
Role: director

Exact text from the filing

Mr. Fehrman also was elected to serve as a director of the Company effective August 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

William J. Fehrman was elected as Chief Executive Officer and President at AMERICAN ELECTRIC POWER CO INC.

Action: elected
Role: Chief Executive Officer and President

Exact text from the filing

On June 24, 2024, William J. Fehrman was elected Chief Executive Officer and President of American Electric Power Company, Inc. (“AEP” or the “Company”) effective as of August 1, 2024.

View on SEC.gov

AMERICAN ELECTRIC POWER CO INC filing history →

Source: SEC EDGAR

accession 0000004904-24-000072

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