---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-24-000271"
form_type: "8-K"
ticker: "WTRG"
cik: "0000078128"
company_name: "Essential Utilities, Inc."
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:31:21.040065+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001552781-24-000271
- form_type: 8-K
- ticker: WTRG
- cik: 0000078128
- company_name: Essential Utilities, Inc.
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/78128/000155278124000271/0001552781-24-000271-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/78128/000155278124000271/e24219_wtrg-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-24-000271
- JSON: https://secwatch.observer/filing/0001552781-24-000271.json
- Plain text: https://secwatch.observer/filing/0001552781-24-000271.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.