8-K/ALeadership ChangesExhibits & Filings

ENTERGY CORP /DE/ 8-K/A Report, Executive Changes (Nov 2, 2022)

Filed November 2, 2022For Securities:ETR

Summary

This 8-K filing from Entergy Corp. (ETR) primarily details the compensation packages for three key newly appointed executive officers: Andrew S. Marsh (CEO), Kimberly A. Fontan (EVP & CFO), and Reginald T. Jackson (SVP & CAO), effective November 1, 2022. The report outlines their respective base salaries, target annual cash bonuses, and eligibility for long-term equity incentives under the company's existing plans. Investors should note the specific salary and bonus targets for these critical leadership roles, as these compensation elements will impact operating expenses. The inclusion of performance units, restricted stock, and stock options suggests a continued focus on aligning executive pay with company performance and shareholder value. The compensation levels appear to be set in line with each individual's seniority and scope of responsibility, as expected for these executive positions.

Key Highlights

  • 1Andrew S. Marsh appointed CEO with an annual base salary of $1,100,000 and a target annual bonus of 120% of base salary.
  • 2Kimberly A. Fontan appointed EVP & CFO with an annual base salary of $625,000 and a target annual bonus of 75% of base salary.
  • 3Reginald T. Jackson appointed SVP & Chief Accounting Officer with an annual base salary of $340,000 and a target annual bonus of 45% of base salary.
  • 4All three executives are eligible to receive long-term incentives including performance units, restricted stock, and stock options under the company's 2019 Omnibus Incentive Plan.
  • 5Awards for long-term incentives will be determined as part of the company's normal annual compensation process.
  • 6The compensation structure aims to align executive pay with seniority, scope of responsibility, and company performance.

Frequently Asked Questions

The new CEO, Andrew S. Marsh, has a base salary of $1,100,000 with a target bonus of 120% of his base salary. The new CFO, Kimberly A. Fontan, has a base salary of $625,000 with a target bonus of 75% of her base salary. The new CAO, Reginald T. Jackson, has a base salary of $340,000 with a target bonus of 45% of his base salary.

Yes, Mr. Marsh, Ms. Fontan, and Mr. Jackson are all eligible to receive awards of performance units, restricted stock, and stock options under Entergy's 2019 Omnibus Incentive Plan or any successor plan. The specific grants will be determined during the company's annual compensation process.

The compensation packages are determined based on the individual's role, seniority, scope of responsibility, and are consistent with the company's normal annual compensation practices. Long-term incentives are also tied to performance under the incentive plan.

This filing focuses on the specific compensation details for three key executive appointments. While it confirms the use of base salary, annual incentives, and long-term equity awards, it doesn't inherently signal a broad change in the company's overall compensation philosophy. The alignment with seniority and scope of responsibility, along with performance-based incentives, is a common practice for executive compensation.