FirstEnergy said its Board approved amended and restated versions of the Executive Severance Plan and the 2017 Change in Control Severance Plan, as well as new forms of RSU award agreements, on September 23, 2025, and that all of them take effect on January 1, 2026.

1. 01

   FirstEnergy said its Board approved amended and restated versions of the Executive Severance Plan and the 2017 Change in Control Severance Plan, as well as new forms of RSU award agreements, on September 23, 2025, and that all of them take effect on January 1, 2026.

2. 02

   The company said it added the CEO as a participant in the Executive Severance Plan, which previously did not cover the CEO. Under the plan, the CEO and all officers will receive one and one-half times base salary, Tier 3 participants will receive 1 times base salary, and Tier 4 participants will receive severance based on a service-based formula, capped at 1 times base salary.

3. 03

   The company said it set the CEO's Change in Control Cash Severance under the amended Change in Control Plan at 2.99 times the sum of base salary and STIP target award. Change in Control Benefits for other participants remain the same.

4. 04

   The company said that under the new RSU award agreement forms for awards made on or after January 1, 2026, outstanding unvested time-based RSUs will fully vest upon a Change in Control, and performance-based RSUs will vest at target level, to the extent they are not replaced with a Replacement Award.

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