Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-02

Unitil (UTL)

CEO Thomas Meissner Jr. was paid $3,189,116 in fiscal year 2025, ↑ up 24.0% from fiscal year 2024, the 10th percentile of its disclosed peer group (SEC filing 0001193125-26-128263 ↗): 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.

$3,189,116 ↑
Thomas Meissner Jr. total, FY2025
10th
CEO pay percentile vs peers
21:1
CEO-to-median pay ratio
96.87%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Thomas Meissner Jr. (Chairman of the Board & Chief Executive Officer), FY2025 total compensation $3,189,116 (base salary $744,066) [exec_comp, SEC accession 0001193125-26-128263, filed 2026-03-27]

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UTL's next annual pay disclosure, estimated March 26, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Thomas Meissner Jr.$744,066$0$751,842$0$662,591$860,413$170,204$3,189,116
Chairman of the Board & Chief Executive Officer
Robert Hevert486,0000348,5430332,910154,314293,0991,614,866
President & Chief Administrative Officer
Daniel Hurstak352,8920225,3420217,55881,282121,923998,997
Senior Vice President, Chief Financial Officer & Treasurer
Christopher LeBlanc306,3750101,0880147,079228,05980,680863,281
Senior Vice President, Gas Operations
Justin Eisfeller296,9510101,0880142,388170,30972,149782,885
Vice President & Chief Technology 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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Thomas Meissner Jr.$3,189,116$2,572,032$2,625,890↑ +617,084
Robert Hevert1,614,8661,319,4621,088,405↑ +295,404
Daniel Hurstak998,997875,878661,326↑ +123,119
Christopher LeBlanc863,281648,295709,806↑ +214,986
Justin Eisfeller782,885664,845710,536↑ +118,040

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against UTL
10 companies name UTL as a compensation peer

Each company listed discloses UTL 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 UTL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Daniel HurstakCFO$998,997
Justin EisfellerCTO$782,885
Christopher LeBlancSVP$863,281
Robert HevertPresident$1,614,866
Thomas Meissner Jr.CEO$3,189,116
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Anne L. AlonzoIndependent Director$210,076
David A. WhiteleyIndependent Director$222,076
Edward F. GodfreyFormer director (through FY2025)$85,660
Jane Lewis-RaymondIndependent Director$203,076
Justine VogelIndependent Director$222,076
Katherine KountzeIndependent Director$135,445
Mark H. CollinIndependent Director$483,094
Michael B. GreenLead Independent Director$238,076
Neveen F. AwadIndependent Director$210,076
Suzanne FosterIndependent Director$210,076
Winfield S. BrownIndependent Director$222,076
02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Anne L. AlonzoDirector2026-10-01A2,272$0$0Derivative, Class A CommonForm 4 ↗
David A. WhiteleyDirector2026-10-01A2,27200CommonForm 4 ↗
Suzanne FosterDirector2026-10-01A2,27200CommonForm 4 ↗
Jane Lewis-RaymondDirector2026-10-01A2,27200Derivative, Class A CommonForm 4 ↗
Neveen F. AwadDirector2026-10-01A2,27200Derivative, Class A CommonForm 4 ↗
Mark H. CollinDirector2026-10-01A2,27200CommonForm 4 ↗
Justine VogelDirector2026-10-01A2,27200CommonForm 4 ↗
Winfield S. BrownDirector2026-10-01D2,27200Derivative, Class A CommonForm 4 ↗
Katherine KountzeDirector2026-10-01A2,27200CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Christopher LeBlancPSU2025-01-28480960—1,440$50,544
Daniel HurstakPSU2025-01-281,0702,140—3,210112,671
Robert HevertPSU2025-01-281,6553,310—4,965174,272
Justin EisfellerPSU2025-01-28480960—1,44050,544
Thomas Meissner Jr.PSU2025-01-283,5707,140—10,710375,921
Daniel HurstakPSU2025-01-282,1402,140—2,140112,671
Robert HevertPSU2025-01-283,3103,310—3,310174,272
Christopher LeBlancPSU2025-01-28960960—96050,544
Justin EisfellerPSU2025-01-28960960—96050,544
Thomas Meissner Jr.PSU2025-01-287,1407,140—7,140375,921
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Christopher LeBlanc$0$101,088$0100.0%
Daniel Hurstak0225,3420100.0%
Robert Hevert0348,5440100.0%
Justin Eisfeller0101,0880100.0%
Thomas Meissner Jr.0751,8420100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Justin EisfellerRSU443—$21,435
Daniel HurstakRSU3,658—177,169
Robert HevertRSU6,620—320,673
Daniel HurstakRSU4,280—207,323
Daniel HurstakRSU443—21,435
Thomas Meissner Jr.RSU10,230—495,541
Thomas Meissner Jr.RSU3,463—167,724
Thomas Meissner Jr.RSU14,280—691,723
Robert HevertRSU5,583—270,416
Justin EisfellerRSU1,455—70,040
Christopher LeBlancRSU443—21,435
Justin EisfellerRSU1,920—93,005
Christopher LeBlancRSU1,750—84,777
Justin EisfellerRSU1,750—84,777
Christopher LeBlancRSU1,920—93,005
Robert HevertRSU3,030—146,773
Thomas Meissner Jr.RSU12,338—597,629
Robert HevertRSU793—38,389
Daniel HurstakRSU1,455—70,480
Christopher LeBlancRSU1,455—70,040
05

Incentive-plan design — the Compensation Discussion & Analysis

Annual compensation (currently defined as base salary, cash incentive and equity compensation for the Company's employees, including the Executive Officers) should generally target the national market median, which is defined as the middle, or the 50th percentile, of the compensation marketplace.

CEO STI target (% of salary)65%
CEO LTI target (% of salary)—
Independent consultantWillis Towers
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-2913,722,103443,02387,12696.87%Passed
20252025-04-3011,582,1101,138,44168,40891.05%Passed
20242024-05-0112,118,280348,04197,46497.21%Passed
20232023-04-2611,825,693288,16468,04097.62%Passed
20222022-04-2711,521,781356,479108,61597%Passed
20212021-04-2810,090,821467,522150,44495.57%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.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-04-2996.87%a
20252025-04-3091.05%b
20242024-05-0197.21%c

a. Approved under the standard stated in the filing — “Therefore, abstentions and broker non-votes will have no effect on the other matters.”.

b. Approved under the standard stated in the filing — “Therefore, abstentions and broker non-votes will have no effect on the other matters.”.

c. Approved under the standard stated in the filing — “Therefore, abstentions and broker non-votes will have no effect on the other matters.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)21 : 1
CEO total compensation$3,189,116
Median employee compensation$153,766
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Mark H. CollinIndependent · Audit$104,500$114,981$0—$254,508$483,094
Michael B. GreenIndependent · Lead Independent Director · Audit · Executive · Nominating and Governance · Not standing for re-election122,000114,9810—1,096238,076
Justine VogelIndependent · Audit (Chair) · Executive106,000114,9810—1,096222,076
Winfield S. BrownIndependent · Compensation (Chair) · Executive · Nominating and Governance106,000114,9810—1,096222,076
David A. WhiteleyIndependent · Compensation · Executive · Nominating and Governance (Chair)106,000114,9810—1,096222,076
Anne L. AlonzoIndependent · Audit · Compensation94,000114,9810—1,096210,076
Neveen F. AwadIndependent · Compensation · Nominating and Governance94,000114,9810—1,096210,076
Suzanne FosterIndependent · Nominating and Governance94,000114,9810—1,096210,076
Jane Lewis-RaymondIndependent · Compensation87,000114,9810—1,096203,076
Katherine KountzeIndependent · Audit · Newly elected58,02976,6850—731135,445
Edward F. GodfreyAudit · Departed during FY47,00038,9250—36585,660
Thomas P. Meissner JrEmployee director · Board Chair · Executive000000
09

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$115,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,018,529
Equity awards (grant-date value)$1,150,439
All other compensation$264,372
Total cost of the board$2,433,340

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Unitil 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 Unitil.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Otter Tail Corporation2025Charles MacFarlane$867,578$3,149,276$0$1,471,194$6,792,688
2ONE Gas, Inc.2025Robert McAnnally925,0003,154,36101,300,0005,575,027
3Northwestern Corporation2025Brian Bird921,2632,700,0220743,4005,016,745
4Avista Corporation2025Heather Rosentrater786,8452,653,7430897,7324,773,308
5Chesapeake Utilities Corporation2025Jeffry Householder872,3852,420,56601,097,8634,531,322
6PNM Resources, Inc.2025Joseph Tarry839,4622,275,0110495,0583,903,948
7ALLETE, Inc.2024Bethany Owen871,1751,378,13801,329,6923,720,063
8Northwest Natural Gas Company2025Justin Palfreyman812,5001,726,208—726,4063,695,467
9MGE Energy, Inc.2025Jeffrey Keebler795,8331,402,8810865,9203,613,508
10Unitil2025Thomas Meissner Jr.744,066751,8420662,5913,189,116
11Genie Energy, Ltd.2025Michael Stein450,0000001,371,250

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Unitil137%PSU 50 · RSU 50NoWillis Towers
ALLETE, Inc.153.2%PSU 75 · RSU 25Yes — Relative TSRPearl Meyer
Avista Corporation114%not disclosedNoMeridian Compensation Partners
Chesapeake Utilities Corporationnot disclosedPSU 100not disclosedFW Cook
Genie Energy, Ltd.not disclosedRestricted Stock 100not disclosednot disclosed
MGE Energy, Inc.135.3%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (TSR)FW Cook
Northwest Natural Gas Company138.8%PSU 65 · RSU 35NoPay Governance
Northwestern Corporation80%PSU 70 · RSU 30Yes — TSR relative to peer groupWillis Towers Watson (WTW)
ONE Gas, Inc.140.6%PSU 70 · RSU 30Yes — Relative TSRMeridian Compensation Partners
Otter Tail Corporationnot disclosednot disclosedYes — Three-Year TSR performance relative to peer groupWTW
PNM Resources, Inc.50%PSU 70 · RSU 30Yes — Relative TSR GoalPay 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.

10d

Frequently asked questions

Who was the highest-paid executive at Unitil in fiscal 2025?
As disclosed, Thomas Meissner Jr. (Chairman of the Board & Chief Executive Officer) was the highest-paid executive at Unitil in fiscal 2025, with total compensation of $3,189,116.
How does Unitil's chief executive pay compare to its disclosed peer group?
As disclosed, Thomas Meissner Jr.'s total compensation ranked at the 10th percentile of Unitil's disclosed peer group.
What is Unitil's CEO-to-median employee pay ratio?
As disclosed, Unitil's CEO-to-median employee pay ratio was 21:1.
How did shareholders vote on Unitil's executive compensation?
As disclosed, 96.87% of shareholders supported Unitil's executive compensation in the latest say-on-pay vote.
How much does Unitil spend in total on board compensation for fiscal 2025?
As disclosed, Unitil reported total board compensation of $2,433,340 for fiscal 2025.

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.

11

Source register

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.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Thomas Meissner Jr.DEF 14A2026-03-270001193125-26-128263Section “Summary Compensation Table”. As printed: 3,189,116. Filing ↗machine: t214 · span 819224–819233
2Section 01, Robert HevertDEF 14A2026-03-270001193125-26-128263Section “Summary Compensation Table”. As printed: 1,614,866. Filing ↗machine: t214 · r7 · c41 · span 830325–830334
3Section 01, Daniel HurstakDEF 14A2026-03-270001193125-26-128263Section “Summary Compensation Table”. As printed: 998,997. Filing ↗machine: t214 · r10 · c41 · span 841212–841219
4Section 01, Christopher LeBlancDEF 14A2026-03-270001193125-26-128263Section “Summary Compensation Table”. As printed: 863,281. Filing ↗machine: t214 · r16 · c41 · span 863058–863065
5Section 01, Justin EisfellerDEF 14A2026-03-270001193125-26-128263Section “SUMMARY COMPENSATION TABLE”. As printed: 782,885. Filing ↗machine: t214 · r13 · c41 · span 852136–852143
6Section 03, Christopher LeBlanc PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r34 · c46 · span 1128487–1128493
7Section 03, Daniel Hurstak PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r22 · c46 · span 1097842–1097849
8Section 03, Robert Hevert PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r16 · c46 · span 1082636–1082643
9Section 03, Justin Eisfeller PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r28 · c46 · span 1113162–1113168
10Section 03, Thomas Meissner Jr. PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r10 · c46 · span 1067314–1067321
11Section 03, Daniel Hurstak PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r22 · c46 · span 1097842–1097849
12Section 03, Robert Hevert PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r16 · c46 · span 1082636–1082643
13Section 03, Christopher LeBlanc PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r34 · c46 · span 1128487–1128493
14Section 03, Justin Eisfeller PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r28 · c46 · span 1113162–1113168
15Section 03, Thomas Meissner Jr. PSUDEF 14A2026-03-270001193125-26-128263Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t243 · r10 · c46 · span 1067314–1067321
16Section 07, pay ratioDEF 14A2026-03-270001193125-26-128263Section “CEO Pay Ratio”. As printed: 21 : 1. Filing ↗machine: span 635329–635338
17Section 08, Mark H. CollinDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 483,094. Filing ↗machine: t314 · r13 · c17 · span 1595801–1595930
18Section 08, Michael B. GreenDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 238,076. Filing ↗machine: t314 · r19 · c17 · span 1609681–1609810
19Section 08, Justine VogelDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 222,076. Filing ↗machine: t314 · r27 · c17 · span 1628331–1628460
20Section 08, Winfield S. BrownDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 222,076. Filing ↗machine: t314 · r11 · c17 · span 1590967–1591096
21Section 08, David A. WhiteleyDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 222,076. Filing ↗machine: t314 · r29 · c17 · span 1632954–1633083
22Section 08, Anne L. AlonzoDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 210,076. Filing ↗machine: t314 · r7 · c17 · span 1581720–1581849
23Section 08, Neveen F. AwadDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 210,076. Filing ↗machine: t314 · r9 · c17 · span 1586345–1586474
24Section 08, Suzanne FosterDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 210,076. Filing ↗machine: t314 · r15 · c17 · span 1600427–1600556
25Section 08, Jane Lewis-RaymondDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 203,076. Filing ↗machine: t314 · r23 · c17 · span 1618963–1619094
26Section 08, Katherine KountzeDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 135,445. Filing ↗machine: t314 · r21 · c17 · span 1614319–1614450
27Section 08, Edward F. GodfreyDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 85,660. Filing ↗machine: t314 · r17 · c17 · span 1605053–1605181
28Section 08, Thomas P. Meissner JrDEF 14A2026-03-270001193125-26-128263Section “Director Compensation”. As printed: 0. Filing ↗
29Section 02, Anne L. Alonzo 2026-10-01Form 42026-10-020001193125-26-411912Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, David A. Whiteley 2026-10-01Form 42026-10-020001190118-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Suzanne Foster 2026-10-01Form 42026-10-020001193125-26-411956Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Jane Lewis-Raymond 2026-10-01Form 42026-10-020001193125-26-411981Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Neveen F. Awad 2026-10-01Form 42026-10-020001193125-26-411926Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Mark H. Collin 2026-10-01Form 42026-10-020001193125-26-411943Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Justine Vogel 2026-10-01Form 42026-10-020001193125-26-411992Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Winfield S. Brown 2026-10-01Form 42026-10-020001193125-26-411937Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Katherine Kountze 2026-10-01Form 42026-10-020001193125-26-411971Insider equity transaction reported since the proxy statement. Filing ↗
38Section 06, 2026 voteForm 8-K2026-05-010000755001-26-000008Item 5.07 · say-on-pay result. As reported: 96.87% (votes for as printed: 13,722,103). Filing ↗
39Section 06, 2025 voteForm 8-K2025-05-050001193125-25-112835Item 5.07 · say-on-pay result. As reported: 91.05% (votes for as printed: 11,582,110.70). Filing ↗
40Section 06, 2024 voteForm 8-K2024-05-070001193125-24-133173Item 5.07 · say-on-pay result. As reported: 97.21% (votes for as printed: 12,118,280.09). Filing ↗
41Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
42Section 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
43Section 09b board cost (computed)Computed——Cash 1,018,529 + equity 1,150,439 + all other 264,372 = 2,433,340, summed across the director compensation table rows.machine: formula: Σ = 2,433,340
44Otter Tail Corporation, Section 10b CEO totalDEF 14A2026-03-020001466593-26-000023CEO total compensation as printed in Otter Tail Corporation's own proxy. As printed: 6,792,688. Filing ↗machine: r3 · c24 · span 879904–879913
45ONE Gas, Inc., Section 10b CEO totalDEF 14A2026-04-010001193125-26-137922CEO total compensation as printed in ONE Gas, Inc.'s own proxy. As printed: 5,575,027. Filing ↗machine: span 1271269–1271278
46Northwestern Corporation, Section 10b CEO totalDEF 14A2026-03-120001993004-26-000018CEO total compensation as printed in Northwestern Corporation's own proxy. As printed: 5,016,745. Filing ↗machine: t153 · r3 · c19 · span 752129–752138
47Avista Corporation, Section 10b CEO totalDEF 14A2026-04-010001193125-26-138034CEO total compensation as printed in Avista Corporation's own proxy. As printed: 4,773,308. Filing ↗machine: span 842223–842232
48Chesapeake Utilities Corporation, Section 10b CEO totalDEF 14A2026-03-250001628280-26-020945CEO total compensation as printed in Chesapeake Utilities Corporation's own proxy. As printed: 4,531,322. Filing ↗machine: span 694783–694792
49PNM Resources, Inc., Section 10b CEO totalDEF 14A2026-04-280001108426-26-000020CEO total compensation as printed in PNM Resources, Inc.'s own proxy. As printed: 3,903,948. Filing ↗machine: r7 · c27 · span 791496–791505
50ALLETE, Inc., Section 10b CEO totalDEF 14A2025-03-310000066756-25-000043CEO total compensation as printed in ALLETE, Inc.'s own proxy. As printed: 3,720,063. Filing ↗machine: r6 · c24 · span 830444–830454
51Northwest Natural Gas Company, Section 10b CEO totalDEF 14A2026-04-170001193125-26-161075CEO total compensation as printed in Northwest Natural Gas Company's own proxy. As printed: 3,695,467. Filing ↗
52MGE Energy, Inc., Section 10b CEO totalDEF 14A2026-04-020001161728-26-000005CEO total compensation as printed in MGE Energy, Inc.'s own proxy. As printed: 3,613,508. Filing ↗machine: r4 · c9 · span 1077549–1077558
53Unitil (subject), Section 10b CEO totalDEF 14A2026-03-270001193125-26-128263CEO total compensation as printed in Unitil's own proxy. As printed: 3,189,116. Filing ↗machine: t214 · span 819224–819233
54Genie Energy, Ltd., Section 10b CEO totalDEF 14A2026-05-010001437749-26-014295CEO total compensation as printed in Genie Energy, Ltd.'s own proxy. As printed: 1,371,250. Filing ↗machine: r1 · c23 · span 385903–385912
55Section 10a, ALLETE, Inc. reciprocityDEF 14A—0000066756-25-000043ALLETE, Inc. names Unitil in its own disclosed peer group (read from its most recent proxy). Filing ↗
56Section 10a, Avista Corporation reciprocityDEF 14A—0001193125-26-138034Avista Corporation's most recent proxy was read; its disclosed peer group does not include Unitil. Filing ↗
57Section 10a, Chesapeake Utilities Corporation reciprocityDEF 14A—0001628280-26-020945Chesapeake Utilities Corporation names Unitil in its own disclosed peer group (read from its most recent proxy). Filing ↗
58Section 10a, Northwest Natural Gas Company reciprocityDEF 14A—0001193125-26-161075Northwest Natural Gas Company names Unitil in its own disclosed peer group (read from its most recent proxy). Filing ↗
59Section 10a, Otter Tail Corporation reciprocityDEF 14A—0001466593-26-000023Otter Tail Corporation names Unitil in its own disclosed peer group (read from its most recent proxy). Filing ↗
60Section 10a, PNM Resources, Inc. reciprocityDEF 14A—0001108426-26-000020PNM Resources, Inc.'s most recent proxy was read; its disclosed peer group does not include Unitil. Filing ↗
61Section 10a, MGE Energy, Inc. reciprocityDEF 14A—0001161728-26-000005MGE Energy, Inc. names Unitil in its own disclosed peer group (read from its most recent proxy). Filing ↗
62Section 10a, Northwestern Corporation reciprocityDEF 14A—0001993004-26-000018Northwestern Corporation's most recent proxy was read; its disclosed peer group does not include Unitil. Filing ↗
63Section 10a, ONE Gas, Inc. reciprocityDEF 14A—0001193125-26-137922ONE Gas, Inc.'s most recent proxy was read; its disclosed peer group does not include Unitil. Filing ↗

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