Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c)On January 13, 2023, Alliant Energy Corporation ("Alliant Energy") announced
the appointment of Lisa M. Barton, 57, as President and Chief Operating Officer
of Alliant Energy, effective February 27, 2023. In addition, Interstate Power
and Light Company ("IPL") and Wisconsin Power and Light Company ("WPL")
announced the appointment of Ms. Barton as Chief Executive Officer of each of
IPL and WPL, effective February 27, 2023. Mr. Larsen will remain as Chief
Executive Officer of Alliant Energy and Chair of the Board of Alliant Energy,
IPL and WPL.
Prior to her appointment, Ms. Barton served as Executive Vice President and
Chief Operating Officer of American Electric Power Company, Inc. ("AEP") from
January 2021 to November 2022, Executive Vice President - Utilities of AEP from
January 2020 to December 2020, and Executive Vice President - Transmission of
AEP from 2011 to 2019.
In connection with Ms. Barton's employment, Ms. Barton will enter into a Key
Executive Employment and Severance Agreement with Alliant Energy in
substantially the form as that filed as Exhibit 10.2 to Alliant Energy's Current
Report on Form 8-K filed October 28, 2021. Ms. Barton did not enter into an
employment agreement but will have an initial annual base salary of $825,000
with a target short-term incentive bonus of 85% of base salary and long-term
incentive target percentage for equity awards of 300% of base salary. Ms. Barton
will receive transition compensation of $1,700,000, subject to repayment terms
in the event she terminates her employment within 36 months following her date
of hire. Ms. Barton will also be eligible to participate in the compensation and
benefit programs generally available to officers of the companies.
© Edgar Online, source Glimpses