secwatch.observer — SEC 8-K summary
======================================

Issuer:     Tennessee Valley Authority (TVE)
CIK:        0001376986
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001376986-24-000012
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1376986/000137698624000012/0001376986-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1376986/000137698624000012/tve-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001376986-24-000012

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