FirstEnergy Updates Executive Severance and Equity Award Plans to Align with Industry Peers, Effective January 2026
**FirstEnergy Updates Executive Compensation and Severance Plans** FirstEnergy Corporation announced that its Board of Directors has approved updates to its executive compensation and severance programs, effective January 1, 2026. The changes include amendments and restatements to the Executive Severance Benefits Plan and the 2017 Change in Control Severance Plan. Under the revised plans, executives such as the President and CEO, CFO, and other named officers will be eligible for equity awards through new forms of time-based and performance-based restricted stock unit agreements. Additionally, in the event of a change in control, eligible executives may receive cash severance equal to two times their base salary and target short-term incentive, prorated annual incentive payments, continued health coverage for two years, and up to $30,000 in outplacement services. The updates are intended to align the company's executive compensation with current market practices.
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