FirstEnergy’s Executive Payouts Overhauled as Big PA Power Auction Kicks Off
FirstEnergy’s board approved new executive severance terms effective Jan. 1, 2026, explicitly including the CEO and shifting most senior roles to fixed salary multiples. The CEO’s change-in-control payout rises to 2.99× base salary plus target bonus, above industry norms. Unvested RSUs will now vest fully on a change in control. Pennsylvania DSP-VI auction applications open Sept. 26, 2025, with the main auction Nov. 12.