Duke Energy Corporation
Stock Ownership Guidelines Policy
(Amended and Restated as of May 4, 2016)
PurposeThe Board of Directors (“Board”) of Duke Energy Corporation (“Duke Energy” or the “Corporation”) believes that it is in the best interest of Duke Energy and its shareholders to align the financial interests of Duke Energy executives and non-employee members of the Board (“Directors”) with those of the Corporation’s shareholders. In this regard, the Corporate Governance Committee of the Board has adopted minimum stock ownership guidelines.
The Corporate Governance Committee may modify this Policy in its discretion.
ApplicabilityThe Policy is applicable to all non-employee Directors and members of the Executive Leadership Team (“ELT” and together with the non-employee Directors, “Participants”). Questions regarding this Policy should be directed to the Corporation’s Chief Legal Officer.
Minimum Ownership RequirementsParticipants must own shares of common stock of the Corporation in accordance with the following schedule:
||Value of Shares|
|Non-Employee Member of the Board of Directors
||5x annual cash retainer|
||6x base salary|
|Senior Management Committee (SMC) Members
||3x base salary|
|Other ELT Members
||1x base salary|
Satisfaction of GuidelinesParticipants may satisfy their ownership guidelines with common stock in these categories:
- Shares owned directly
- Shares owned indirectly (e.g., by a spouse or a trust)
- Shares represented by amounts invested in a 401(k) plan or deferred compensation plan maintained by Duke Energy or an affiliate
- Time-vested restricted stock, restricted stock units or phantom stock
- Shares held in the Duke Energy Corporation InvestorDirect Choice Plan