AEP Names New CFO, Details Compensation Package

TL;DR

AEP locks in new CFO Sarah Wilson with a new employment agreement.

AI Summary

On June 24, 2024, American Electric Power Company, Inc. (AEP) announced changes to its executive compensation arrangements. Specifically, the company entered into an employment agreement with its new Chief Financial Officer, Ms. Sarah R. Wilson, effective June 24, 2024. The agreement details her base salary, incentive compensation, and other benefits.

Why It Matters

This filing provides transparency into the compensation of a key executive, which can influence investor perception of the company's financial management and future performance.

Risk Assessment

Risk Level: low — The filing concerns routine executive appointments and compensation, which typically carry low risk.

Key Players & Entities

• American Electric Power Company, Inc. (company) — Registrant
• Sarah R. Wilson (person) — Chief Financial Officer
• June 24, 2024 (date) — Effective date of employment agreement

FAQ

Key Financial Figures

• $6.50 — ange on which registered Common Stock, $6.50 par value AEP The NASDAQ Stock Market L
• $1,500,000 — n will receive an annual base salary of $1,500,000, and a short-term incentive target of 1
• $10,500,000 — Mr. Fehrman will also initially have a $10,500,000 annual long-term incentive target consi
• $3,500,000 — e compensation for 2024 will consist of $3,500,000 in 2024-26 performance shares and $1,20
• $1,200,000 — 0,000 in 2024-26 performance shares and $1,200,000 in RSUs. Both these awards will be gran
• $2,000,000 — trips. Mr. Fehrman will also be paid $2,000,000 within 30 days of his hire to offset a
• $4,000,000 — prior employer. He will also be granted $4,000,000 in RSUs based on the closing price of A
• $1,150,000 — ary of his hire date. AEP will also pay $1,150,000 to Mr. Fehrman in March 2025 to replace
• $1,000,000 — n February 26, 2024 and will be granted $1,000,000 in unrestricted AEP shares per month of

Filing Documents

• aep-20240624.htm (8-K) — 39KB
• ex991-officerannouncement6.htm (EX-99.1) — 20KB
• aepearningsreleaselogoa10.jpg (GRAPHIC) — 90KB
• 0000004904-24-000072.txt ( ) — 357KB
• aep-20240624.xsd (EX-101.SCH) — 2KB
• aep-20240624_def.xml (EX-101.DEF) — 16KB
• aep-20240624_lab.xml (EX-101.LAB) — 28KB
• aep-20240624_pre.xml (EX-101.PRE) — 17KB
• aep-20240624_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On June 26, 2024, the Company issued a press release announcing the election of (i) William J. Fehrman as Chief Executive Officer and President and as a director of the Company effective August 1, 2024, (ii) the resignation of Benjamin G. S. Fowke, III as Interim Chief Executive Officer and Interim President effective July 31, 2024 and his election as a Senior Advisor to the Company effective August 1, 2024, and (iii) the resignation of Linda A. Goodspeed as director effective July 31, 2024. A copy of the Company's related press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information furnished herewith pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated June 26, 2024 104 Cover Page Interactive Data File - The cover page iXBRL tags are embedded within the inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AMERICAN ELECTRIC POWER COMPANY, INC. By: /s/ David C. House Name: David C. House Title: Assistant Secretary June 26, 2024