8-KLeadership ChangesExhibits & Filings

EXELON CORP 8-K Report, Executive Changes (Jun 15, 2023)

Filed June 15, 2023For Securities:EXC

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.

Frequently Asked Questions

The primary reason for this 8-K filing is to announce the departure of Exelon's Senior Vice President, Corporate Controller, and principal accounting officer, Joseph R. Trpik Jr., and the appointment of his successor, Robert A. Kleczynski, who will also serve as the principal accounting officer.

Robert A. Kleczynski, who currently holds the position of Senior Vice President and General Tax Officer, will be taking over as Senior Vice President, Corporate Controller, and Tax, and will assume the role of principal accounting officer.

Mr. Kleczynski's new compensation includes a base salary of $500,000, an annual incentive program with a target of 60% of his base salary, and a long-term incentive award valued at $500,000. The long-term incentives are structured as a mix of performance share awards and restricted stock units.

No, this filing specifically addresses a change in executive personnel, namely the principal accounting officer. It does not indicate any changes to the company's financial reporting practices or its adoption of new accounting standards.