WEC Energy Group (WEC) Proxy Filing summary

Executive summary

• Achieved record earnings per share ($4.83 GAAP, $4.88 adjusted) and a 6.9% dividend increase in January 2025, marking 22 consecutive years of dividend growth.

• Announced a $28 billion five-year capital plan (2025–2029) focused on safety, reliability, and clean energy investments.

• Added to S&P’s High Yield Dividend Aristocrats Index in 2024 and recognized for strong ESG performance.

• Retired over 500 MW of coal capacity, added significant solar and battery storage, and completed major LNG storage projects.

• Maintained strong governance, linking executive pay to performance and welcoming two new directors in 2025.

Voting matters and shareholder proposals

• Election of 13 directors for one-year terms expiring in 2026.

• Ratification of Deloitte & Touche LLP as independent auditors for 2025.

• Advisory vote on executive compensation (say-on-pay).

• Amendments to eliminate supermajority voting requirements in Articles and Bylaws.

• Stockholder proposal to support simple majority vote, which the Board recommends against due to overlapping management proposals.

Board of directors and corporate governance

• 11 of 13 director nominees are independent; 46% of nominees are diverse by gender or race/ethnicity.

• Board succession planning led to the addition of six new independent directors since 2020.

• Annual board and committee evaluations, ongoing director education, and robust stockholder engagement.

• Board leadership structure separates CEO and Chairman roles, with an Independent Lead Director.