CEO Linden Evans was paid $5,991,759 in fiscal year 2025, ↑ up 3.5% from fiscal year 2024, the 48th percentile of its disclosed peer group (SEC filing 0001193125-26-113958 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$5,991,759 ↑ Linden Evans total, FY2025 | 48th CEO pay percentile vs peers | 46:1 CEO-to-median pay ratio | 98.19% Say-on-pay support, latest vote |
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BKH's next annual pay disclosure, estimated March 22, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Linden Evans | $995,594 | $0 | $2,966,688 | $0 | $1,294,886 | $4,179 | $730,412 | $5,991,759 |
| President and Chief Executive Officer | ||||||||
| Kimberly Nooney | 487,356 | 0 | 2,026,226 | 0 | 403,243 | 16,132 | 259,363 | 3,192,320 |
| Sr. Vice President and Chief Financial Officer | ||||||||
| Marne Jones | 486,475 | 0 | 1,622,365 | 0 | 402,287 | 5,824 | 225,648 | 2,742,599 |
| Sr. Vice President and Chief Utility Officer | ||||||||
| Phillip Casey | 119,097 | 0 | 676,876 | 0 | 0 | 0 | 465,778 | 1,261,751 |
| Former Sr. Vice President, General Counsel and Chief Compliance Officer | ||||||||
| Sarah Wiltse | 362,766 | 0 | 306,867 | 0 | 214,532 | 0 | 141,420 | 1,025,585 |
| Sr. Vice President and Chief Human Resources Officer | ||||||||
| Don Redden | 176,322 | 50,000 | 304,596 | 0 | 97,680 | 0 | 55,776 | 684,374 |
| Sr. Vice President and Chief Information and Transformation Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Linden Evans | $5,991,759 | $5,787,141 | $5,639,002 | ↑ +204,618 |
| Kimberly Nooney | 3,192,320 | 1,661,939 | 1,589,283 | ↑ +1,530,381 |
| Marne Jones | 2,742,599 | 1,414,155 | 1,098,188 | ↑ +1,328,444 |
| Phillip Casey | 1,261,751 | 155,972 | — | ↑ +1,105,779 |
| Sarah Wiltse | 1,025,585 | 370,911 | — | ↑ +654,674 |
| Don Redden | 684,374 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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$5,991,759 Linden Evans total, FY2025
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Data as of May 28, 2026 · Source: 0001193125-26-113958 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
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Each company listed discloses BKH in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BKH in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Anne G. Waleski | Independent Director | $211,667 |
| Barry M. Granger | Independent Director | $247,500 |
| Kathleen A. McAllister | Independent Director | $250,000 |
| Mark A. Schober | Former director (through FY2025) | $45,833 |
| Rebecca B. Roberts | Former director (through FY2025) | $40,000 |
| Robert F. Beard | Independent Director | $210,000 |
| Robert P. Otto | Independent Director | $265,000 |
| Scott M. Prochazka | Independent Director | $267,500 |
| Steven R. Mills | Chair of the Board | $367,500 |
| Teresa A. Taylor | Independent Director | $267,500 |
| Tony A. Jensen | Independent Director | $250,000 |
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Teresa A. Taylor | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Tony A. Jensen | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Anne G. Waleski | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Robert F. Beard | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Barry M. Granger | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Steven R. Mills | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Robert P. Otto | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Scott M. Prochazka | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Kathleen A. McAllister | Director | 2026-05-01 | A | 1,921 | — | — | Common | Form 4 ↗ |
| Robert P. Otto | Director | 2026-05-27 | D | 4,109 | 74 | 304,970 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Linden Evans | PSU | 2025-01-23 | 7,585 | 30,340 | — | 60,680 | $1,797,645 |
| Linden Evans | RSU | 2025-02-07 | — | — | 19,661 | — | 1,169,043 |
| Marne Jones | RSU | 2025-02-07 | — | — | 4,407 | — | 262,040 |
| Sarah Wiltse | PSU | 2025-01-23 | 785 | 3,138 | — | 6,276 | 185,926 |
| Kimberly Nooney | RSU | 2025-02-07 | — | — | 22,034 | — | 1,310,142 |
| Sarah Wiltse | RSU | 2025-02-07 | — | — | 2,034 | — | 120,942 |
| Kimberly Nooney | PSU | 2025-01-23 | 1,831 | 7,323 | — | 14,646 | 433,887 |
| Phillip Casey | PSU | 2025-01-23 | 1,151 | 4,603 | — | 9,206 | 272,727 |
| Marne Jones | RSU | 2025-02-07 | — | — | 16,102 | — | 957,425 |
| Phillip Casey | RSU | 2025-02-07 | — | — | 6,797 | — | 404,150 |
| Marne Jones | PSU | 2025-01-23 | 1,700 | 6,800 | — | 13,600 | 402,900 |
| Don Redden | RSU | 2025-08-01 | — | — | 5,268 | — | 304,596 |
| Kimberly Nooney | RSU | 2025-02-07 | — | — | 4,746 | — | 282,197 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Linden Evans | $1,169,043 | $1,797,645 | $0 | 60.6% |
| Marne Jones | 1,219,465 | 402,900 | 0 | 24.8% |
| Sarah Wiltse | 120,942 | 185,926 | 0 | 60.6% |
| Kimberly Nooney | 1,592,339 | 433,887 | 0 | 21.4% |
| Phillip Casey | 404,150 | 272,727 | 0 | 40.3% |
| Don Redden | 304,596 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Steven R. Mills | PSU | 367,500 | — | $27,257,475 |
| Scott M. Prochazka | PSU | 267,500 | — | 19,840,475 |
| Robert P. Otto | PSU | 265,000 | — | 19,655,050 |
| Robert F. Beard | PSU | 210,000 | — | 15,575,700 |
| Robert F. Beard | RSU | 75,000 | — | 5,562,750 |
| Teresa A. Taylor | PSU | 267,500 | — | 19,840,475 |
| Kathleen A. McAllister | RSU | 115,000 | — | 8,529,550 |
| Barry M. Granger | PSU | 247,500 | — | 18,357,075 |
| Steven R. Mills | RSU | 232,500 | — | 17,244,525 |
| Anne G. Waleski | PSU | 211,667 | — | 15,699,341 |
| Scott M. Prochazka | RSU | 132,500 | — | 9,827,525 |
| Robert P. Otto | RSU | 130,000 | — | 9,642,100 |
| Tony A. Jensen | RSU | 115,000 | — | 8,529,550 |
| Barry M. Granger | RSU | 112,500 | — | 8,344,125 |
| Anne G. Waleski | RSU | 76,667 | — | 5,686,391 |
| Tony A. Jensen | PSU | 250,000 | — | 18,542,500 |
| Kathleen A. McAllister | PSU | 250,000 | — | 18,542,500 |
| Teresa A. Taylor | RSU | 132,500 | — | 9,827,525 |
Overall, our goal is to target total direct compensation (the sum of base salary, short-term incentive at target and long-term incentive at target) to be around the median of the appropriate market. Our executive compensation is designed to maintain an appropriate and competitive balance between fixed and variable compensation components including short-and long-term compensation, and cash and stock-based compensation.
| CEO STI target (% of salary) | 110% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-29 | 59,589,296 | 1,096,350 | 264,965 | 98.19% | Passed |
| 2025 | 2025-04-23 | 56,264,304 | 1,289,291 | 275,233 | 97.76% | Passed |
| 2024 | 2024-04-23 | 53,514,178 | 1,535,455 | 285,877 | 97.21% | Passed |
| 2023 | 2023-04-25 | 54,851,457 | 1,155,134 | 262,173 | 97.94% | Passed |
| 2022 | 2022-04-26 | 51,846,017 | 2,461,757 | 256,497 | 95.47% | Passed |
| 2021 | 2021-04-27 | 51,848,540 | 802,143 | 458,095 | 98.48% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-04-29 | 98.19%a |
| 2025 | 2025-04-23 | 97.76%b |
| 2024 | 2024-04-23 | 97.21%c |
a. Approved under the standard stated in the filing — “The appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2026 will be ratified if the votes cast "For" exceed the votes cast "Against." Abstentions will have no effect on such vote.”.
b. Approved under the standard stated in the filing — “The appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2025 will be ratified if the votes cast "For" exceed the votes cast "Against." Abstentions will have no effect on such vote.”.
c. Approved under the standard stated in the filing — “The appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2024 will be ratified if the votes cast "For" exceed the votes cast "Against." Abstentions will have no effect on such vote.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 46 : 1 |
|---|---|
| CEO total compensation | $5,991,759 |
| Median employee compensation | $129,748 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Steven R. MillsIndependent · Board Chair · Governance | $232,500 | $135,000 | $0 | $0 | $0 | $367,500 |
| Teresa A. TaylorIndependent · Leadership Development and Compensation · Governance (Chair) | 132,500 | 135,000 | 0 | 0 | 0 | 267,500 |
| Scott M. ProchazkaIndependent · Leadership Development and Compensation (Chair) · Governance | 132,500 | 135,000 | 0 | 0 | 0 | 267,500 |
| Robert P. OttoIndependent · Audit (Chair) | 130,000 | 135,000 | 0 | 0 | 0 | 265,000 |
| Tony A. JensenIndependent · Audit | 115,000 | 135,000 | 0 | 0 | 0 | 250,000 |
| Kathleen A. McAllisterIndependent · Audit | 115,000 | 135,000 | 0 | 0 | 0 | 250,000 |
| Barry M. GrangerIndependent · Leadership Development and Compensation | 112,500 | 135,000 | 0 | 0 | 0 | 247,500 |
| Anne G. WaleskiIndependent · Audit · Newly elected | 76,667 | 135,000 | 0 | 0 | 0 | 211,667 |
| Robert F. BeardIndependent · Leadership Development and Compensation · Newly elected | 75,000 | 135,000 | 0 | 0 | 0 | 210,000 |
| Mark A. SchoberIndependent · Not standing for re-election · Departed during FY | 45,833 | 0 | 0 | 0 | 0 | 45,833 |
| Rebecca B. RobertsIndependent · Not standing for re-election · Departed during FY | 40,000 | 0 | 0 | 0 | 0 | 40,000 |
| Linden R. EvansEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $105,000 |
|---|---|
| Annual equity retainer | $135,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 12,500 / 12,500 |
| Stock ownership guideline | 5x annual cash board retainer ($525,000) |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,207,500 |
| Equity awards (grant-date value) | $1,215,000 |
| All other compensation | $0 |
| Total cost of the board | $2,422,500 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Black Hills Corp names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Black Hills Corp.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Ameren Corporation | 2025 | Martin Lyons | $1,325,000 | $8,205,550 | $0 | $3,330,000 | $14,056,510 |
| 2 | NiSource, Inc. | 2025 | Lloyd Yates | 1,191,667 | 9,619,864 | 0 | 2,261,784 | 13,197,800 |
| 3 | OGE Energy Corp. | 2025 | Sean Trauschke | 1,239,372 | 5,811,824 | 0 | 1,753,487 | 12,032,007 |
| 4 | CMS Energy Corp. | 2025 | Garrick Rochow | 1,275,000 | 6,763,239 | 0 | 2,055,938 | 10,534,039 |
| 5 | Southwest Gas Holdings, Inc. | 2025 | Karen Haller | 1,090,685 | 5,776,085 | 0 | 1,861,200 | 10,029,409 |
| 6 | Atmos Energy Corp. | 2025 | J. Kevin Akers | 1,147,802 | 5,179,057 | 0 | 2,100,572 | 9,953,274 |
| 7 | Alliant Energy Corporation | 2025 | Lisa Barton | 1,136,937 | 5,471,255 | 0 | 1,835,563 | 8,999,073 |
| 8 | Pinnacle West Capital Corp. | 2025 | Theodore Geisler | 938,356 | 5,257,108 | 0 | 1,853,040 | 8,414,652 |
| 9 | Portland General Electric Co. | 2025 | Maria Pope | 1,205,111 | 4,549,047 | 0 | 1,235,019 | 7,583,877 |
| 10 | IDACORP Inc. | 2025 | Lisa Grow | 1,050,000 | 2,942,308 | 0 | 1,785,001 | 7,529,892 |
| 11 | New Jersey Resources Corp. | 2025 | Stephen Westhoven | 1,002,737 | 3,514,633 | 0 | 1,398,286 | 6,433,253 |
| 12 | Black Hills Corp | 2025 | Linden Evans | 995,594 | 2,966,688 | 0 | 1,294,886 | 5,991,759 |
| 13 | ONE Gas, Inc. | 2025 | Robert McAnnally | 925,000 | 3,154,361 | 0 | 1,300,000 | 5,575,027 |
| 14 | Spire, Inc. | 2025 | Steven Lindsey | 497,308 | 1,873,940 | 0 | 0 | 5,066,799 |
| 15 | NorthWestern Energy Group, Inc. | 2025 | Brian Bird | 921,263 | 2,700,022 | 0 | 743,400 | 5,016,745 |
| 16 | MDU Resources Group, Inc. | 2025 | Nicole Kivisto | 925,000 | 2,600,313 | 0 | 1,169,200 | 4,812,252 |
| 17 | Avista Corp. | 2025 | Heather Rosentrater | 786,845 | 2,653,743 | 0 | 897,732 | 4,773,308 |
| 18 | Hawaiian Electric Ind., Inc. | 2025 | Scott W. Seu | 1,024,900 | 1,721,450 | 0 | 0 | 4,430,919 |
| 19 | TXNM Resources, Inc. | 2025 | Joseph Tarry | 839,462 | 2,275,011 | 0 | 495,058 | 3,903,948 |
| 20 | ALLETE Inc. | 2024 | Bethany Owen | 871,175 | 1,378,138 | 0 | 1,329,692 | 3,720,063 |
| 21 | Northwest Natural Holding Co. | 2025 | Justin Palfreyman | 812,500 | 1,726,208 | — | 726,406 | 3,695,467 |
| 22 | MGE Energy Inc. | 2025 | Jeffrey Keebler | 795,833 | 1,402,881 | 0 | 865,920 | 3,613,508 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Black Hills Corp | 118.4% | PSU 60 · RSU 40 | Yes — Relative Total Shareholder Return (rTSR) | Meridian |
| ALLETE Inc. | 153.2% | PSU 75 · RSU 25 | Yes — Relative TSR | Pearl Meyer |
| Alliant Energy Corporation | 130% | PSU 75 · RSU 25 | No | Pay Governance LLC |
| Ameren Corporation | 193.3% | PSU 70 · RSU 30 | No | Meridian Compensation Partners |
| Atmos Energy Corp. | 153% | PSU 75 · RSU 25 | No | Meridian Compensation Partners, LLC |
| Avista Corp. | 114% | not disclosed | No | Meridian Compensation Partners |
| CMS Energy Corp. | 129% | PSU 75 · RSU 25 | Yes — Relative TSR Performance | Pay Governance LLC |
| Hawaiian Electric Ind., Inc. | not disclosed | PSU 50 · Cash LTI 50 | No | Frederic W. Cook & Co., Inc. (FW Cook) |
| IDACORP Inc. | 170% | PSU 67 · RSU 33 | Yes — TSR | Pay Governance |
| MDU Resources Group, Inc. | 126.4% | PSU 70 · RSU 30 | Yes — Three-Year rTSR | Independent compensation consultant (nationally-recognized firm; name not disclosed in CD&A) |
| MGE Energy Inc. | 135.3% | PSU 50 · RSU 50 | Yes — Relative Total Shareholder Return (TSR) | FW Cook |
| New Jersey Resources Corp. | 126.17% | PSU 51 · RSU 49 | No | FW Cook |
| NiSource, Inc. | 146% | PSU 80 · RSU 20 | Yes — Three-Year RTSR | Meridian Compensation Partners |
| Northwest Natural Holding Co. | 138.8% | PSU 65 · RSU 35 | No | Pay Governance |
| NorthWestern Energy Group, Inc. | 80% | PSU 70 · RSU 30 | Yes — TSR relative to peer group | Willis Towers Watson (WTW) |
| OGE Energy Corp. | 118% | PSU 65 · RSU 35 | No | Mercer |
| ONE Gas, Inc. | 140.6% | PSU 70 · RSU 30 | Yes — Relative TSR | Meridian Compensation Partners |
| Pinnacle West Capital Corp. | 197.5% | PSU 70 · RSU 30 | Yes — Relative TSR | FW Cook |
| Portland General Electric Co. | not disclosed | PSU 70 · RSU 30 | Yes — Relative Total Shareholder Return (TSR) | FW Cook |
| Southwest Gas Holdings, Inc. | 141% | PSU 60 · RSU 40 | No | Aon Human Capital Solutions |
| Spire, Inc. | 95% | PSU 75 · RSU 25 | No | Semler Brossy Consulting Group LLC |
| TXNM Resources, Inc. | 50% | PSU 70 · RSU 30 | Yes — Relative TSR Goal | Pay Governance |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Linden Evans | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “SUMMARY COMPENSATION TABLE” · page 37. As printed: 5,991,759. Filing ↗machine: t83 · r2 · c21 · span 1356271–1356280 |
| 2 | Section 01, Kimberly Nooney | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “SUMMARY COMPENSATION TABLE” · page 37. As printed: 3,192,320. Filing ↗machine: span 1383081–1383090 |
| 3 | Section 01, Marne Jones | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “SUMMARY COMPENSATION TABLE” · page 37. As printed: 2,742,599. Filing ↗machine: span 1410387–1410396 |
| 4 | Section 01, Phillip Casey | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “SUMMARY COMPENSATION TABLE” · page 37. As printed: 1,261,751. Filing ↗machine: span 1482419–1482428 |
| 5 | Section 01, Sarah Wiltse | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “SUMMARY COMPENSATION TABLE” · page 37. As printed: 1,025,585. Filing ↗machine: span 1437372–1437381 |
| 6 | Section 01, Don Redden | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “SUMMARY COMPENSATION TABLE” · page 37. As printed: 684,374. Filing ↗machine: span 1461689–1461696 |
| 7 | Section 03, Linden Evans PSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r4 · c20 · span 1712851–1712857 |
| 8 | Section 03, Linden Evans RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r5 · c25 · span 1728599–1728605 |
| 9 | Section 03, Marne Jones RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r12 · c25 · span 1815934–1815939 |
| 10 | Section 03, Sarah Wiltse PSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r15 · c20 · span 1851639–1851644 |
| 11 | Section 03, Kimberly Nooney RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r9 · c25 · span 1778856–1778862 |
| 12 | Section 03, Sarah Wiltse RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r16 · c25 · span 1867060–1867065 |
| 13 | Section 03, Kimberly Nooney PSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r7 · c20 · span 1751143–1751148 |
| 14 | Section 03, Phillip Casey PSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r20 · c20 · span 1915408–1915413 |
| 15 | Section 03, Marne Jones RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r13 · c25 · span 1829109–1829115 |
| 16 | Section 03, Phillip Casey RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r21 · c25 · span 1931154–1931159 |
| 17 | Section 03, Marne Jones PSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r11 · c20 · span 1801396–1801401 |
| 18 | Section 03, Don Redden RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r18 · c25 · span 1892547–1892552 |
| 19 | Section 03, Kimberly Nooney RSU | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r8 · c25 · span 1765681–1765686 |
| 20 | Section 07, pay ratio | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “CEO Pay Ratio”. As printed: 46 : 1. Filing ↗ |
| 21 | Section 08, Steven R. Mills | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 367,500. Filing ↗machine: t51 · r6 · c9 · span 734001–734227 |
| 22 | Section 08, Teresa A. Taylor | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 267,500. Filing ↗machine: t51 · r11 · c9 · span 760267–760493 |
| 23 | Section 08, Scott M. Prochazka | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 267,500. Filing ↗machine: t51 · r8 · c9 · span 744375–744601 |
| 24 | Section 08, Robert P. Otto | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 265,000. Filing ↗machine: t51 · r7 · c9 · span 739186–739412 |
| 25 | Section 08, Tony A. Jensen | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 250,000. Filing ↗machine: t51 · r4 · c9 · span 723622–723848 |
| 26 | Section 08, Kathleen A. McAllister | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 250,000. Filing ↗machine: t51 · r5 · c9 · span 728815–729041 |
| 27 | Section 08, Barry M. Granger | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 247,500. Filing ↗machine: t51 · r3 · c9 · span 718437–718663 |
| 28 | Section 08, Anne G. Waleski | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 211,667. Filing ↗machine: t51 · r12 · c9 · span 765618–765844 |
| 29 | Section 08, Robert F. Beard | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 210,000. Filing ↗machine: t51 · r2 · c9 · span 713251–713477 |
| 30 | Section 08, Mark A. Schober | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 45,833. Filing ↗machine: t51 · r10 · c3 · span 752905–753130 |
| 31 | Section 08, Rebecca B. Roberts | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 40,000. Filing ↗machine: t51 · r9 · c3 · span 747554–747779 |
| 32 | Section 08, Linden R. Evans | DEF 14A | 2026-03-18 | 0001193125-26-113958 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 33 | Section 02, Teresa A. Taylor 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000063 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Tony A. Jensen 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000058 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Anne G. Waleski 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000064 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Robert F. Beard 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000056 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Barry M. Granger 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000057 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Steven R. Mills 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000060 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Robert P. Otto 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000061 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, Scott M. Prochazka 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000062 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Kathleen A. McAllister 2026-05-01 | Form 4 | 2026-05-04 | 0001130464-26-000059 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, Robert P. Otto 2026-05-27 | Form 4 | 2026-05-28 | 0001130464-26-000067 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 06, 2026 vote | Form 8-K | 2026-05-01 | 0001193125-26-198223 | Item 5.07 · say-on-pay result. As reported: 98.19% (votes for as printed: 59,589,296). Filing ↗ |
| 44 | Section 06, 2025 vote | Form 8-K | 2025-04-25 | 0000950170-25-058826 | Item 5.07 · say-on-pay result. As reported: 97.76% (votes for as printed: 56,264,304). Filing ↗ |
| 45 | Section 06, 2024 vote | Form 8-K | 2024-04-26 | 0000950170-24-048746 | Item 5.07 · say-on-pay result. As reported: 97.21% (votes for as printed: 53,514,178). Filing ↗ |
| 46 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 47 | Section 03b vehicle mix (computed) | Computed | — | — | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 48 | Section 09b board cost (computed) | Computed | — | — | Cash 1,207,500 + equity 1,215,000 + all other 0 = 2,422,500, summed across the director compensation table rows.machine: formula: Σ = 2,422,500 |
| 49 | Ameren Corporation, Section 10b CEO total | DEF 14A | 2026-03-31 | 0001104659-26-037756 | CEO total compensation as printed in Ameren Corporation's own proxy. As printed: 14,056,510. Filing ↗machine: r1 · c47 · span 1200840–1200850 |
| 50 | NiSource, Inc., Section 10b CEO total | DEF 14A | 2026-03-30 | 0001140361-26-011851 | CEO total compensation as printed in NiSource, Inc.'s own proxy. As printed: 13,197,800. Filing ↗machine: t253 · r2 · c22 · span 1412582–1412592 |
| 51 | OGE Energy Corp., Section 10b CEO total | DEF 14A | 2026-04-01 | 0001193125-26-138065 | CEO total compensation as printed in OGE Energy Corp.'s own proxy. As printed: 12,032,007. Filing ↗machine: span 979637–979647 |
| 52 | CMS Energy Corp., Section 10b CEO total | DEF 14A | 2026-03-26 | 0000811156-26-000015 | CEO total compensation as printed in CMS Energy Corp.'s own proxy. As printed: 10,534,039. Filing ↗machine: r3 · c42 · span 736929–736939 |
| 53 | Southwest Gas Holdings, Inc., Section 10b CEO total | DEF 14A | 2026-03-23 | 0001692115-26-000080 | CEO total compensation as printed in Southwest Gas Holdings, Inc.'s own proxy. As printed: 10,029,409. Filing ↗machine: r2 · c24 · span 1094860–1094870 |
| 54 | Atmos Energy Corp., Section 10b CEO total | DEF 14A | 2025-12-19 | 0000731802-25-000076 | CEO total compensation as printed in Atmos Energy Corp.'s own proxy. As printed: 9,953,274. Filing ↗machine: t122 · r2 · c12 · span 827644–827653 |
| 55 | Alliant Energy Corporation, Section 10b CEO total | DEF 14A | 2026-03-31 | 0000352541-26-000025 | CEO total compensation as printed in Alliant Energy Corporation's own proxy. As printed: 8,999,073. Filing ↗machine: r2 · c27 · span 489074–489084 |
| 56 | Pinnacle West Capital Corp., Section 10b CEO total | DEF 14A | 2026-04-03 | 0001628280-26-023516 | CEO total compensation as printed in Pinnacle West Capital Corp.'s own proxy. As printed: 8,414,652. Filing ↗machine: r2 · c24 · span 1811110–1811119 |
| 57 | Portland General Electric Co., Section 10b CEO total | DEF 14A | 2026-03-13 | 0000784977-26-000034 | CEO total compensation as printed in Portland General Electric Co.'s own proxy. As printed: 7,583,877. Filing ↗machine: r4 · c27 · span 2638140–2638149 |
| 58 | IDACORP Inc., Section 10b CEO total | DEF 14A | 2026-04-02 | 0001057877-26-000091 | CEO total compensation as printed in IDACORP Inc.'s own proxy. As printed: 7,529,892. Filing ↗machine: t35 · r2 · c9 · span 715958–715967 |
| 59 | New Jersey Resources Corp., Section 10b CEO total | DEF 14A | 2025-12-10 | 0000356309-25-000096 | CEO total compensation as printed in New Jersey Resources Corp.'s own proxy. As printed: 6,433,253. Filing ↗machine: t217 · r2 · c14 · span 1329193–1329202 |
| 60 | Black Hills Corp (subject), Section 10b CEO total | DEF 14A | 2026-03-18 | 0001193125-26-113958 | CEO total compensation as printed in Black Hills Corp's own proxy. As printed: 5,991,759. Filing ↗machine: t83 · r2 · c21 · span 1356271–1356280 |
| 61 | ONE Gas, Inc., Section 10b CEO total | DEF 14A | 2026-04-01 | 0001193125-26-137922 | CEO total compensation as printed in ONE Gas, Inc.'s own proxy. As printed: 5,575,027. Filing ↗machine: span 1271269–1271278 |
| 62 | Spire, Inc., Section 10b CEO total | DEF 14A | 2025-12-16 | 0001308179-25-000657 | CEO total compensation as printed in Spire, Inc.'s own proxy. As printed: 5,066,799. Filing ↗machine: t142 · r16 · c27 · span 939926–939935 |
| 63 | NorthWestern Energy Group, Inc., Section 10b CEO total | DEF 14A | 2026-03-12 | 0001993004-26-000018 | CEO total compensation as printed in NorthWestern Energy Group, Inc.'s own proxy. As printed: 5,016,745. Filing ↗machine: t153 · r3 · c19 · span 752129–752138 |
| 64 | MDU Resources Group, Inc., Section 10b CEO total | DEF 14A | 2026-04-01 | 0000067716-26-000040 | CEO total compensation as printed in MDU Resources Group, Inc.'s own proxy. As printed: 4,812,252. Filing ↗machine: r4 · c21 · span 904325–904334 |
| 65 | Avista Corp., Section 10b CEO total | DEF 14A | 2026-04-01 | 0001193125-26-138034 | CEO total compensation as printed in Avista Corp.'s own proxy. As printed: 4,773,308. Filing ↗machine: span 842223–842232 |
| 66 | Hawaiian Electric Ind., Inc., Section 10b CEO total | DEF 14A | 2026-04-29 | 0001104659-26-051288 | CEO total compensation as printed in Hawaiian Electric Ind., Inc.'s own proxy. As printed: 4,430,919. Filing ↗machine: t70 · r1 · c12 · span 948353–948362 |
| 67 | TXNM Resources, Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001108426-26-000020 | CEO total compensation as printed in TXNM Resources, Inc.'s own proxy. As printed: 3,903,948. Filing ↗machine: r7 · c27 · span 791496–791505 |
| 68 | ALLETE Inc., Section 10b CEO total | DEF 14A | 2025-03-31 | 0000066756-25-000043 | CEO total compensation as printed in ALLETE Inc.'s own proxy. As printed: 3,720,063. Filing ↗machine: r6 · c24 · span 830444–830454 |
| 69 | Northwest Natural Holding Co., Section 10b CEO total | DEF 14A | 2026-04-17 | 0001193125-26-161075 | CEO total compensation as printed in Northwest Natural Holding Co.'s own proxy. As printed: 3,695,467. Filing ↗ |
| 70 | MGE Energy Inc., Section 10b CEO total | DEF 14A | 2026-04-02 | 0001161728-26-000005 | CEO total compensation as printed in MGE Energy Inc.'s own proxy. As printed: 3,613,508. Filing ↗machine: r4 · c9 · span 1077549–1077558 |
| 71 | Section 10a, TXNM Resources, Inc. reciprocity | DEF 14A | — | 0001108426-26-000020 | TXNM Resources, Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 72 | Section 10a, Atmos Energy Corp. reciprocity | DEF 14A | — | 0000731802-25-000076 | Atmos Energy Corp. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 73 | Section 10a, Avista Corp. reciprocity | DEF 14A | — | 0001193125-26-138034 | Avista Corp. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 74 | Section 10a, NiSource, Inc. reciprocity | DEF 14A | — | 0001140361-26-011851 | NiSource, Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 75 | Section 10a, Northwest Natural Holding Co. reciprocity | DEF 14A | — | 0001193125-26-161075 | Northwest Natural Holding Co. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 76 | Section 10a, Hawaiian Electric Ind., Inc. reciprocity | DEF 14A | — | 0001104659-26-051288 | Hawaiian Electric Ind., Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 77 | Section 10a, NorthWestern Energy Group, Inc. reciprocity | DEF 14A | — | 0001993004-26-000018 | NorthWestern Energy Group, Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 78 | Section 10a, Southwest Gas Holdings, Inc. reciprocity | DEF 14A | — | 0001692115-26-000080 | Southwest Gas Holdings, Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 79 | Section 10a, IDACORP Inc. reciprocity | DEF 14A | — | 0001057877-26-000091 | IDACORP Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 80 | Section 10a, MGE Energy Inc. reciprocity | DEF 14A | — | 0001161728-26-000005 | MGE Energy Inc.'s most recent proxy was read; its disclosed peer group does not include Black Hills Corp. Filing ↗ |
| 81 | Section 10a, Portland General Electric Co. reciprocity | DEF 14A | — | 0000784977-26-000034 | Portland General Electric Co. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 82 | Section 10a, New Jersey Resources Corp. reciprocity | DEF 14A | — | 0000356309-25-000096 | New Jersey Resources Corp. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 83 | Section 10a, CMS Energy Corp. reciprocity | DEF 14A | — | 0000811156-26-000015 | CMS Energy Corp.'s most recent proxy was read; its disclosed peer group does not include Black Hills Corp. Filing ↗ |
| 84 | Section 10a, ALLETE Inc. reciprocity | DEF 14A | — | 0000066756-25-000043 | ALLETE Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 85 | Section 10a, MDU Resources Group, Inc. reciprocity | DEF 14A | — | 0000067716-26-000040 | MDU Resources Group, Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 86 | Section 10a, Pinnacle West Capital Corp. reciprocity | DEF 14A | — | 0001628280-26-023516 | Pinnacle West Capital Corp.'s most recent proxy was read; its disclosed peer group does not include Black Hills Corp. Filing ↗ |
| 87 | Section 10a, OGE Energy Corp. reciprocity | DEF 14A | — | 0001193125-26-138065 | OGE Energy Corp. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 88 | Section 10a, Spire, Inc. reciprocity | DEF 14A | — | 0001308179-25-000657 | Spire, Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 89 | Section 10a, ONE Gas, Inc. reciprocity | DEF 14A | — | 0001193125-26-137922 | ONE Gas, Inc. names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 90 | Section 10a, Alliant Energy Corporation reciprocity | DEF 14A | — | 0000352541-26-000025 | Alliant Energy Corporation names Black Hills Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
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