secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN ELECTRIC POWER CO INC (AEP)
CIK:        0000004904
Form:       8-K
Filed at:   2024-06-26T23:59:59+00:00
Accession:  0000004904-24-000072
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4904/000000490424000072/0000004904-24-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4904/000000490424000072/aep-20240624.htm
  HTML page:      https://secwatch.observer/filing/0000004904-24-000072

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer