Title
Resolution - Review and Approval of 2025 CEO Performance Evaluation and Compensation - T Cox
Other Info
Submitted By: Andrea Stover on behalf of Travis Cox
Department: General Counsel
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
This Board of Directors of Pedernales Electric Cooperative, Inc. (“PEC”) is responsible for an annual review of the Chief Executive Officer’s (“CEO's”) performance and consideration of possible compensation changes. The Board has reviewed and evaluated the CEO’s performance over the prior 12-month period and reviewed market information regarding CEO compensation of other organizations of comparable size and within similar industries.
Body
WHEREAS, an effective CEO performance evaluation process is a key factor in creating and maintaining a strong and effective relationship between PEC’s Board of Directors and the CEO;
WHEREAS, the Board of Directors’ evaluation of the CEO's performance is based on the CEO’s achievement of goals, objectives and management responsibilities;
WHEREAS, consideration of the CEO’s appropriate compensation includes the results of the Board of Director’s performance evaluation and review of CEO compensation market data; and
WHEREAS, the Board of Directors conducted its annual performance evaluation of and consideration of compensation changes for the CEO this day;
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS that the CEO's performance evaluation and compensation are approved as discussed this day in Executive Session.