Fiscal year 2025 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.
Each company listed discloses WTRG 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 WTRG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Christopher Franklin | $1,103,931 | $0 | $3,366,470 | $652,838 | $2,218,607 | $1,841,343 | $29,626 | $9,212,815 |
| Chairman, President and Chief Executive Officer | ||||||||
| Christopher Luning | 490,954 | 0 | 589,089 | 114,234 | 540,346 | 1,219,415 | 16,315 | 2,970,353 |
| Executive Vice President and General Counsel | ||||||||
| Daniel Schuller | 582,978 | 0 | 851,687 | 165,161 | 751,146 | 0 | 68,516 | 2,419,488 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Colleen Arnold | 426,958 | 0 | 355,463 | 68,934 | 341,691 | 0 | 35,519 | 1,228,564 |
| President, Aqua | ||||||||
| Michael Huwar | 391,320 | 0 | 338,560 | 65,651 | 372,480 | 0 | 37,472 | 1,205,483 |
| President, Peoples Gas | ||||||||
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 |
|---|---|---|---|---|
| Christopher Franklin | $9,212,815 | $6,222,992 | $7,749,950 | +2,989,823 |
| Christopher Luning | 2,970,353 | 1,780,959 | — | +1,189,394 |
| Daniel Schuller | 2,419,488 | 1,973,906 | 1,731,383 | +445,582 |
| Colleen Arnold | 1,228,564 | 994,234 | 881,563 | +234,330 |
| Michael Huwar | 1,205,483 | 976,259 | — | +229,224 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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 |
|---|---|---|---|---|---|---|---|---|
| W. Bryan Lewis | Director | 2026-06-23 | A | 3,666 | $37 | $134,982 | Common | Form 4 ↗ |
| Elizabeth B. Amato | Director | 2026-06-23 | A | 3,666 | 37 | 134,982 | Common | Form 4 ↗ |
| David A. Ciesinski | Director | 2026-06-23 | A | 3,666 | 37 | 134,982 | Common | Form 4 ↗ |
| Daniel J. Hilferty | Director | 2026-06-23 | A | 3,666 | 37 | 134,982 | Common | Form 4 ↗ |
| Christopher L. Bruner | Director | 2026-06-23 | A | 3,666 | 37 | 134,982 | Common | Form 4 ↗ |
| Tamara L. Linde | Director | 2026-06-23 | A | 3,666 | 37 | 134,982 | 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 |
|---|---|---|---|---|---|---|---|
| Christopher Franklin | PRSU | — | — | — | — | — | $3,366,470 |
| Colleen Arnold | PRSU | — | — | — | — | — | 355,463 |
| Michael Huwar | PRSU | — | — | — | — | — | 338,560 |
| Christopher Luning | PRSU | — | — | — | — | — | 589,089 |
| Christopher Luning | OPTION | — | — | — | — | — | 114,234 |
| Christopher Franklin | OPTION | — | — | — | — | — | 652,838 |
| Michael Huwar | OPTION | — | — | — | — | — | 65,651 |
| Daniel Schuller | OPTION | — | — | — | — | — | 165,161 |
| Colleen Arnold | OPTION | — | — | — | — | — | 68,934 |
| Daniel Schuller | PRSU | — | — | — | — | — | 851,687 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Christopher Franklin | $0 | $0 | $652,838 | 0.0% |
| Colleen Arnold | 0 | 0 | 68,934 | 0.0% |
| Michael Huwar | 0 | 0 | 65,651 | 0.0% |
| Christopher Luning | 0 | 0 | 114,234 | 0.0% |
| Daniel Schuller | 0 | 0 | 165,161 | 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 |
|---|---|---|---|---|
| Christopher Franklin | RSU | 43,701 | — | $1,557,878 |
| Colleen Arnold | RSU | 4,187 | — | 149,261 |
| Daniel Schuller | RSU | 11,790 | — | 420,310 |
| Christopher Luning | RSU | 8,529 | — | 304,047 |
| Michael Huwar | RSU | 4,107 | — | 146,404 |
Our philosophy is that we should structure executive pay to be consistent with our peers and to align the long-term interests of our executives, shareholders, and customers so the pay appropriately reflects performance in achieving financial and non-financial operating objectives. To support our philosophy, we believe that a significant portion of an executive's pay should be at risk as either performance-based incentive awards that are only paid if the individual and Company performance targets are met or time-based equity grants.
| CEO STI target (% of salary) | 110% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pay Governance (through July 2025); FW Cook (2026 forward) |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-29 | 184,594,406 | 20,085,147 | 1,223,832 | 90.19% | Passed |
| 2025 | 2025-05-07 | 154,232,438 | 56,219,963 | 1,425,093 | 73.29% | Passed |
| 2024 | 2024-05-01 | 194,712,551 | 13,046,186 | 1,442,470 | 93.72% | Passed |
| 2023 | 2023-05-03 | 187,215,092 | 7,792,837 | 2,006,091 | 96% | Passed |
| 2022 | 2022-05-04 | 179,138,481 | 5,406,993 | 1,534,362 | 97.07% | Passed |
| 2021 | 2021-05-05 | 168,516,234 | 6,162,528 | 1,253,565 | 96.47% | 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 | 90.19%a |
| 2025 | 2025-05-07 | 73.29%b |
| 2024 | 2024-05-01 | 93.72%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “oting Options Vote Required for Approval Impact of Abstentions Impact of Broker Non-Votes PROPOSAL 1 Election of directors For, Against, or Withhold for each nominee Plurality of the votes cast* No effect on this proposal No effect on this proposal PROPOSAL 2 Advisory vote on executive compensation For, Against, or Abstain Affirmative vote of a majority of the votes cast by those shareholders present in person or represented by proxy at the meeting No effect on this proposal No effect on this proposal PROPOSAL 3 Ratification of the appointment of PricewaterhouseCoopers LLP For, Against, or Abstain Affirmative vote of a majority of the votes cast by those shareholders this procedure, multiple shareholders who share the same last name and address and do not participate in electronic delivery will receive only one copy of the Proxy Materials or the Notice.”.
c. Approved under the standard stated in the filing — “oting Options Vote Required for Approval Impact of Abstentions Impact of Broker Non-Votes PROPOSAL 1 Election of directors For, Against, or Withhold for each nominee Plurality of the votes cast* No effect on this proposal No effect on this proposal PROPOSAL 2 Advisory vote on executive compensation For, Against, or Abstain Affirmative vote of a majority of the votes cast by those shareholders present in person or represented by proxy at the meeting No effect on this proposal No effect on this proposal PROPOSAL 3 Ratification of the appointment of PricewaterhouseCoopers LLP For, Against, or Abstain Affirmative vote of a majority of the votes cast by those shareholders tement and the Annual Report to Shareholders for the year ended December 31, 2023, including financial statements and other information about the Company and its subsidiaries (the Annual Report), are first being made available to shareholders of record as of March 4, 2024, on or about March 19, 2024.”.
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) | 80 : 1 |
|---|---|
| CEO total compensation | $9,212,815 |
| Median employee compensation | $115,770 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Daniel J. HilfertyIndependent · Lead Independent Director · Executive Compensation (Chair) · Corporate Governance · Executive | $155,000 | $135,011 | $0 | $0 | $100 | $290,111 |
| Christopher L. BrunerIndependent · Audit (Chair) · Executive Compensation · Executive | 130,000 | 135,011 | 0 | 0 | 100 | 265,111 |
| Elizabeth B. AmatoIndependent · Corporate Governance · Risk Mitigation and Investment Policy | 125,000 | 135,011 | 0 | 0 | 100 | 260,111 |
| David A. CiesinskiIndependent · Audit · Risk Mitigation and Investment Policy (Chair) · Executive | 125,000 | 135,011 | 0 | 0 | 100 | 260,111 |
| W. Bryan LewisIndependent · Corporate Governance (Chair) · Audit · Executive | 110,000 | 135,011 | 0 | 0 | 100 | 245,111 |
| Tamara L. LindeIndependent · Executive Compensation · Risk Mitigation and Investment Policy | 110,000 | 135,011 | 0 | 0 | 100 | 245,111 |
| WestIndependent · Not standing for re-election | 0 | 0 | 0 | 0 | 0 | 0 |
| Christopher H. FranklinEmployee director · Board Chair · Executive (Chair) · Risk Mitigation and Investment Policy | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $110,000 |
|---|---|
| Annual equity retainer | $135,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 15,000 |
| Stock ownership guideline | 5x annual base cash retainer (equivalent to 14,334 shares as of December 31, 2025) |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $755,000 |
| Equity awards (grant-date value) | $810,066 |
| All other compensation | $600 |
| Total cost of the board | $1,565,666 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Essential Utilities | 2025 | Christopher Franklin | $1,103,931 | $3,366,470 | $652,838 | $2,218,607 | $9,212,815 |
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.
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, Christopher Franklin | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Summary Compensation Table” · page 68. As printed: 9,212,815. Filing ↗machine: t485 · r1 · c9 · span 1342436–1342445 |
| 2 | Section 01, Christopher Luning | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Summary Compensation Table” · page 68. As printed: 2,970,353. Filing ↗machine: r7 · c9 · span 1358285–1358294 |
| 3 | Section 01, Daniel Schuller | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Summary Compensation Table” · page 68. As printed: 2,419,488. Filing ↗machine: r4 · c9 · span 1350252–1350261 |
| 4 | Section 01, Colleen Arnold | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Summary Compensation Table” · page 68. As printed: 1,228,564. Filing ↗machine: r10 · c9 · span 1366040–1366049 |
| 5 | Section 01, Michael Huwar | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Summary Compensation Table” · page 68. As printed: 1,205,483. Filing ↗machine: r13 · c9 · span 1373717–1373726 |
| 6 | Section 03, Christopher Franklin PRSU | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t485 · r1 · c4 · span 1341048–1341057 |
| 7 | Section 03, Colleen Arnold PRSU | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t485 · r10 · c4 · span 1364659–1364666 |
| 8 | Section 03, Michael Huwar PRSU | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t485 · r13 · c4 · span 1372396–1372403 |
| 9 | Section 03, Christopher Luning PRSU | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t485 · r7 · c4 · span 1356901–1356908 |
| 10 | Section 03, Christopher Luning OPTION | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t520 · r19 · c13 · span 1669674–1669681 |
| 11 | Section 03, Christopher Franklin OPTION | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t520 · r11 · c13 · span 1641740–1641747 |
| 12 | Section 03, Michael Huwar OPTION | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t520 · r27 · c13 · span 1697678–1697684 |
| 13 | Section 03, Daniel Schuller OPTION | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t520 · r15 · c13 · span 1655699–1655706 |
| 14 | Section 03, Colleen Arnold OPTION | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t520 · r23 · c13 · span 1683628–1683634 |
| 15 | Section 03, Daniel Schuller PRSU | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t485 · r4 · c4 · span 1348870–1348877 |
| 16 | Section 07, pay ratio | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “CEO Pay Ratio”. As printed: 80 : 1. Filing ↗machine: t546 · r2 · c0 · span 1845781–1845783 |
| 17 | Section 08, Daniel J. Hilferty | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 290,111. Filing ↗machine: t267 · r5 · c7 · span 705923–705930 |
| 18 | Section 08, Christopher L. Bruner | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 265,111. Filing ↗machine: t267 · r2 · c7 · span 700001–700008 |
| 19 | Section 08, Elizabeth B. Amato | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 260,111. Filing ↗machine: t267 · r1 · c7 · span 698034–698041 |
| 20 | Section 08, David A. Ciesinski | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 260,111. Filing ↗machine: t267 · r3 · c7 · span 701971–701978 |
| 21 | Section 08, W. Bryan Lewis | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 245,111. Filing ↗machine: t267 · r6 · c7 · span 707889–707896 |
| 22 | Section 08, Tamara L. Linde | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 245,111. Filing ↗machine: t267 · r7 · c7 · span 709855–709862 |
| 23 | Section 08, West | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 24 | Section 08, Christopher H. Franklin | DEF 14A | 2026-03-17 | 0001552781-26-000133 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 25 | Section 02, W. Bryan Lewis 2026-06-23 | Form 4 | 2026-06-24 | 0000078128-26-000071 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Elizabeth B. Amato 2026-06-23 | Form 4 | 2026-06-24 | 0000078128-26-000075 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, David A. Ciesinski 2026-06-23 | Form 4 | 2026-06-24 | 0000078128-26-000073 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Daniel J. Hilferty 2026-06-23 | Form 4 | 2026-06-24 | 0000078128-26-000074 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Christopher L. Bruner 2026-06-23 | Form 4 | 2026-06-24 | 0000078128-26-000069 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Tamara L. Linde 2026-06-23 | Form 4 | 2026-06-24 | 0000078128-26-000070 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 06, 2026 vote | Form 8-K | 2026-04-30 | 0001552781-26-000288 | Item 5.07 · say-on-pay result. As reported: 90.19% (votes for as printed: 184,594,406). Filing ↗ |
| 32 | Section 06, 2025 vote | Form 8-K | 2025-05-12 | 0001552781-25-000177 | Item 5.07 · say-on-pay result. As reported: 73.29% (votes for as printed: 154,232,438). Filing ↗ |
| 33 | Section 06, 2024 vote | Form 8-K | 2024-05-02 | 0001552781-24-000269 | Item 5.07 · say-on-pay result. As reported: 93.72% (votes for as printed: 194,712,551). Filing ↗ |
| 34 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 35 | Section 03b vehicle mix (computed) | 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 |
| 36 | Section 09b board cost (computed) | Computed | — | computed | Cash 755,000 + equity 810,066 + all other 600 = 1,565,666, summed across the director compensation table rows.machine: formula: Σ = 1,565,666 |
| 37 | Essential Utilities (subject), Section 10b CEO total | DEF 14A | 2026-03-17 | 0001552781-26-000133 | CEO total compensation as printed in Essential Utilities's own proxy. As printed: 9,212,815. Filing ↗machine: t485 · r1 · c9 · span 1342436–1342445 |