Evergy (EVRG) Proxy Filing summary

Executive summary

• 2024 financial results met expectations, with growth driven by higher demand, regulated investment recovery, and cost management despite mild weather and inflationary pressures.

• Major new customer investments, including a Panasonic EV battery plant and Google/Meta data centers, are expected to drive continued demand growth.

• Regulatory requests were submitted for three new natural gas plants and three utility-scale solar projects in 2024.

• Dividend increased by 4% in November 2024, aligning with a 60–70% payout target.

• 2024 earnings (GAAP) were $873.5M ($3.79/share); adjusted earnings (non-GAAP) were $877.9M ($3.81/share).

Voting matters and shareholder proposals

• Shareholders will vote on: election of 12 directors, advisory approval of 2024 executive compensation, frequency of future say-on-pay votes, and ratification of Deloitte & Touche LLP as auditor for 2025.

• Board recommends voting for all director nominees, for executive compensation, for annual say-on-pay votes, and for auditor ratification.

Board of directors and corporate governance

• Board refreshed with two new directors in 2024–2025, maintaining 92% independence and an average tenure of 7.2 years.

• Board structure includes a combined Chair/CEO and Lead Independent Director, with all committee chairs independent.

• Five standing committees oversee audit, compensation, finance, governance/ESG, and operations.

• Annual director elections, majority voting, proxy access, and right to call special meetings are in place.

• Mandatory retirement age of 75 and stock ownership requirements for directors and executives.