ODEC appoints John C. Lee Jr. as President and CEO, consulting agreement through 2025

OLD DOMINION ELECTRIC COOPERATIVE

John C. Lee, Jr. resigned from board effective Feb 9, 2024; appointed President and CEO on Feb 6, 2024, after serving as interim since Sep 8, 2023.
Consulting agreement: monthly compensation of $125,000, auto allowance of $1,500, housing allowance, term through Dec 31, 2025.
He remains officer/employee of Mecklenburg Electric Cooperative; will serve as consultant and later Senior Advisor.
If terminated without cause, receives lump sum of remaining unpaid amount through Dec 31, 2025.

item 5.02 item 9.01

Executive movements

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Appointed

John C. Lee, Jr.

President and CEO

OLD DOMINION ELECTRIC COOPERATIVE

Effective: 2024-02-06
Filed: February 12, 2024, 6:59 PM ET

On February 6, 2024, our board of directors appointed John C. Lee, Jr. as President and CEO of ODEC.

Departed

John C. Lee, Jr.

Director

OLD DOMINION ELECTRIC COOPERATIVE

Effective: 2024-02-09
Filed: February 12, 2024, 6:59 PM ET

On February 9, 2024, John C. Lee, Jr. resigned from the board of directors of Old Dominion Electric Cooperative ("ODEC"), effective as of that date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John C. Lee, Jr. was appointed as President and CEO at OLD DOMINION ELECTRIC COOPERATIVE.

Action: appointed
Role: President and CEO

Exact text from the filing

On February 6, 2024, our board of directors appointed John C. Lee, Jr. as President and CEO of ODEC.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John C. Lee, Jr. resigned as Director at OLD DOMINION ELECTRIC COOPERATIVE.

Action: resigned
Role: Director

Exact text from the filing

On February 9, 2024, John C. Lee, Jr. resigned from the board of directors of Old Dominion Electric Cooperative ("ODEC"), effective as of that date.

View on SEC.gov

Source: SEC EDGAR

accession 0000950170-24-013640

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