Summary
Exelon Corporation (EXC) filed an 8-K report on June 15, 2023, primarily announcing a change in its principal accounting officer. Joseph R. Trpik Jr., Senior Vice President, Corporate Controller, and principal accounting officer, will depart the company on June 29, 2023. This executive transition is noted as the key event in the filing. Effective June 30, 2023, Robert A. Kleczynski, currently Senior Vice President and General Tax Officer, will assume the expanded role of Senior Vice President, Corporate Controller, and Tax, also serving as the principal accounting officer. His compensation package for this new role has been detailed, including a base salary, annual incentive target, and long-term incentive awards, which align with the company's existing incentive plans.
Key Highlights
- 1Joseph R. Trpik Jr. is departing Exelon Corporation as Senior Vice President, Corporate Controller, and principal accounting officer, effective June 29, 2023.
- 2Robert A. Kleczynski will succeed Mr. Trpik Jr., taking on the role of Senior Vice President, Corporate Controller, and Tax, and will serve as the principal accounting officer.
- 3Mr. Kleczynski's appointment is effective June 30, 2023.
- 4The new compensation for Mr. Kleczynski includes a base salary of $500,000.
- 5His annual incentive program has a target opportunity of 60% of his base salary.
- 6Mr. Kleczynski will receive a long-term incentive target award valued at $500,000, consistent with the Exelon Long-Term Incentive Plan.
- 7Long-term incentives will be comprised of performance share awards (67%) and restricted stock units (33%), with payouts tied to performance targets.