secwatch.observer — SEC 8-K summary
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Issuer:     ALLETE INC (—)
CIK:        0000066756
Form:       8-K/A
Filed at:   2025-03-14T23:59:59+00:00
Accession:  0000066756-25-000024
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

ALLETE names Jeffrey Scissons CFO with $360K salary, $300K LTIP, 2x severance
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- Jeffrey J. Scissons appointed VP, CFO and Corporate Treasurer effective March 11, 2025.
- Base salary set at $360,011 per year; AIP target 60% of base.
- LTIP opportunity $300,000: 25% time-based RSUs (3-year cliff vest) and 75% PSAs (target, vest Dec 31, 2027).
- Eligible for change-in-control severance: lump sum equal to 2 times annual cash compensation.
- Also eligible for ALLETE retirement and executive benefit plans described in 2024 proxy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66756/000006675625000024/0000066756-25-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66756/000006675625000024/ale-20250311.htm
  HTML page:      https://secwatch.observer/filing/0000066756-25-000024

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