Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain Officers
On October 31, 2022, James R. Chapman provided notice of his intent to resign as
Executive Vice President and Chief Financial Officer of Dominion Energy, Inc.
("Dominion Energy" or the "Company") and its subsidiaries, effective
November 23, 2022, to pursue employment at another company.
On November 4, 2022, Dominion Energy announced that Steven D. Ridge will succeed
Mr. Chapman as Senior Vice President and Chief Financial Officer, effective
November 24, 2022.
Mr. Ridge, age 42, has served as Vice President and General Manager-Western
Distribution of the Company and its subsidiaries since October 2021. Prior to
that, Mr. Ridge served as Vice President - Investor Relations from April 2019 to
September 2021 and Director - Investor Relations from October 2017 to March
2019. From March 2014 to September 2017, Mr. Ridge held various leadership roles
in financial analysis and mergers and acquisitions within the Company. Prior to
joining Dominion Energy in 2014, Mr. Ridge was an Executive Director in the
Energy Investment Banking Group at J.P. Morgan.
Effective November 24, 2022, Mr. Ridge's annual base salary will be $600,000
with an annual incentive plan target of 70% of his base salary. In recognition
of Mr. Ridge's promotion and to bridge him to the issuance of 2023 long-term
incentive awards, he will receive a one-time payment of $350,000 payable in
December 2022, and a one-time restricted stock award under the Company's 2014
Incentive Compensation Plan in the amount of $350,000 to be issued on
December 1, 2022, which will vest ratably over three years, subject to
Mr. Ridge's continued employment.
Mr. Ridge will also be eligible for a long-term incentive award under the
Company's 2023 Long-Term Incentive Program (LTIP) to be adopted by the
Compensation and Talent Development Committee in January 2023, in an amount and
in the form to be determined by the committee. He will also be eligible to
participate in the benefit plans and arrangements generally available to the
Company's other executive officers.
Item 9.01 Financial Statements and Exhibits.
Exhibits
Cover Page Interactive Data File (embedded within the Inline XBRL
104 document)
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