01—Abstract
Summary
Summary of the 8-K filed May 12, 2025. Cited figures are marked; the original filing is the authoritative source.
WEC Energy Group, Inc. filed this Form 8-K on May 12, 2025 under Item 5.02 (Departure of Directors or Certain Officers; Compensatory Arrangements).
The filing reports two personnel and compensation actions rather than financial results. On May 8, 2025, the Board appointed Michael Hooper Executive Vice President and Chief Operating Officer, effective May 11, 2025. He continues as President of the Wisconsin Utilities and will also become President of Michigan Gas Utilities Corporation and Minnesota Energy Resources Corporation.
The Compensation Committee approved an annual base salary increase of $24,000,a bringing Mr. Hooper's total annual base salary to $713,000, prorated for the May 11, 2025 effective date. His short-term incentive award under the Company's short-term performance plan (STPP) will now be based on WEC Energy's performance measures rather than partly on the Wisconsin utilities' performance. His 2025 targets are 85% of base salary under the STPP and 190% of base salary under the long-term incentive plans.
Curt Culver completed his service as a director on May 8, 2025, having reached the applicable retirement age under the Corporate Governance Guidelines. The Compensation Committee approved accelerated vesting of his unvested restricted stock, approximately 1,707 shares, effective May 8, 2025.
02—Key points
Key Highlights
- Michael Hooper was appointed Executive Vice President and Chief Operating Officer, effective May 11, 2025, while remaining President of the Wisconsin Utilities.
- Hooper will also become President of Michigan Gas Utilities Corporation and Minnesota Energy Resources Corporation.
- Hooper's annual base salary increases by $24,000 to a total of $713,000, prorated from May 11, 2025.
- Hooper's STPP award will now be tied to WEC Energy's performance measures instead of partly to Wisconsin utilities' performance.
- Hooper's 2025 targets are 85% of base salary under the STPP and 190% of base salary under long-term incentive plans.
- Director Curt Culver completed his board service on May 8, 2025, upon reaching retirement age under the Corporate Governance Guidelines.
- Approximately 1,707 unvested restricted shares held by Culver were accelerated to vest effective May 8, 2025.
03—Questions
Frequently Asked Questions
Who was appointed to a new role at WEC Energy Group?
Michael Hooper was appointed Executive Vice President and Chief Operating Officer effective May 11, 2025. He keeps his role as President of the Wisconsin Utilities and also takes on the presidencies of Michigan Gas Utilities Corporation and Minnesota Energy Resources Corporation.
How is Mr. Hooper's compensation changing?
His annual base salary rises by $24,000 to $713,000, prorated to the May 11, 2025 effective date. His STPP award will now be based on WEC Energy's performance measures rather than partly on Wisconsin utilities' performance. His 2025 targets are 85% of base salary under the STPP and 190% under long-term incentive plans.
Why did director Curt Culver leave the board, and what happened to his equity awards?
Culver completed his service as a director on May 8, 2025, having reached the applicable retirement age under WEC Energy's Corporate Governance Guidelines. The Compensation Committee approved accelerating the vesting of his approximately 1,707 unvested restricted shares, effective May 8, 2025, in recognition of his years of service.
Does this filing report financial results or guidance?
No. This Form 8-K covers only Item 5.02 and reports officer appointment and compensatory actions. It contains no financial results, earnings, or guidance.
04—Continue