TVA Board adopts new compensation practice, cuts CEO incentive and severance limits

Tennessee Valley Authority

Board approved a new Employee Compensation Board Practice clarifying roles on compensation matters.
CEO maximum scorecard achievement under EAIP and LTIP reduced from 200% to 150%.
CEO severance multiple under ESP cut from 1.5 to 1.0; cash separation now based on salary only.
Amended seven compensation plans: Compensation, EAIP, LTIP, ESP, Supplemental Executive Retirement, Restoration, and Deferred Compensation.
Changes effective May 9, 2024; plans include minor administrative revisions.

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