FirstEnergy amends executive severance plans, adds CEO to plan, boosts change-in-control pay

FIRSTENERGY CORP

CEO now eligible for Executive Severance Plan with 1.5x base salary severance for qualified separation, effective Jan 1, 2026.
CEO gets enhanced change-in-control cash severance of 2.99x (base salary + target STIP), up from 2x for other participants.
Grandfathered executives (≥18 yrs service as of Jan 2025) may keep prior service-based formula if higher.
New RSU award agreements provide full vesting of time-based RSUs and target-level vesting of performance-based RSUs upon change in control unless replaced.
Amendments include updates to COBRA premium waiver and clarifying changes; plans effective Jan 1, 2026.

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