Duke Energy maintains a performance-based, metrics-driven executive compensation program, designed to:
The company meets these objectives through a mix of compensation that includes base salary, short-term incentives, and long-term incentives consisting of performance shares and restricted stock units.
To support clean energy initiatives, Duke Energy measures the performance of its nuclear and renewable generation assets through a reliability metric under the company’s short-term incentive (STI) plan.
The Board of Directors’ Compensation and People Development Committee added a climate-related metric to the STI plan in 2021, further bolstering the company’s commitment to decarbonization. The metric focuses on incenting Duke Energy’s leadership team to advance the company’s climate strategy based on relevant criteria specific to each senior executive.
Other key components of the company’s compensation program include:
Duke Energy regularly reviews its compensation program and performance metrics with the Board’s Compensation and People Development Committee, revising as needed.
For more information about Duke Energy’s compensation practices, see the proxy statement for the 2021 Annual Meeting of Shareholders.