ALLETE INC DEF 14A: Executive Pay & Pension Details
| Field | Detail |
|---|---|
| Company | Allete Inc |
| Form Type | DEF 14A |
| Filed Date | Mar 31, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, governance, pension-benefits
Related Tickers: ALE
TL;DR
ALLETE INC DEF 14A out: Exec pay details for Owen & Hodnik, pension benefit changes noted.
AI Summary
ALLETE INC filed its DEF 14A on March 31, 2025, detailing executive compensation and corporate governance. The filing includes information on compensation for key individuals such as Ms. Owen and Mr. Hodnik for the fiscal years ending December 31, 2021, through 2024. It also references changes in actuarial present value of pension benefits.
Why It Matters
This filing provides shareholders with transparency into how executive compensation is structured and how changes in pension liabilities might affect the company's financial health.
Risk Assessment
Risk Level: low — This is a routine DEF 14A filing providing information on executive compensation and corporate governance, with no immediate indication of significant new risks.
Key Numbers
- 20250331 — Filing Date (Date the DEF 14A was filed with the SEC.)
- 20250513 — Period of Report (The period this filing pertains to.)
Key Players & Entities
- ALLETE INC (company) — Filer of the DEF 14A
- Ms. Owen (person) — Executive compensation recipient
- Mr. Hodnik (person) — Executive compensation recipient
- 30 W SUPERIOR ST, DULUTH, MN 55802-2093 (address) — ALLETE INC's business and mailing address
FAQ
What specific compensation details are provided for Ms. Owen and Mr. Hodnik for the fiscal year ending December 31, 2024?
The filing indicates compensation data for Ms. Owen and Mr. Hodnik for the period 2024-01-01 to 2024-12-31, but specific dollar amounts are not detailed in the provided text snippet.
What is the significance of the 'AdjustmentChangeInActuarialPresentValueOfPensionBenefitsMemberMember' mentioned?
This likely refers to changes in the company's pension obligations due to actuarial adjustments, which can impact the company's long-term liabilities and financial reporting.
When did ALLETE INC change its name from Minnesota Power & Light Co?
ALLETE INC changed its name from Minnesota Power & Light Co on 19920703.
What is ALLETE INC's Standard Industrial Classification (SIC) code?
ALLETE INC's SIC code is 4931, categorized under ELECTRIC & OTHER SERVICES COMBINED.
What is the filing date of this DEF 14A?
The filing date for this DEF 14A is 20250331.
Filing Details
This Form DEF 14A (Form DEF 14A) was filed with the SEC on March 31, 2025 by Ms. Owen regarding ALLETE INC.