Essential Utilities renews CEO contract; amends CIC agreements for other NEOs

Essential Utilities, Inc.

New employment agreement for CEO Christopher Franklin effective July 1, 2024, with three-year term and option for one-year extension.
Target annual bonus set at no less than 100% of base salary; target annual equity LTI at no less than 250% of base salary.
Non-CIC termination severance: 2x base salary + target bonus; CIC termination severance: 3x base salary + target bonus plus full equity vesting.
Company also amended change-in-control agreements for other named executive officers to convert underwater options to RSUs upon a CIC.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.