[8-K] DTE ENERGY CO Reports Material Event
DTE Energy Company updated executive compensation and protection agreements in September 2025. The Benefit Plan Administration Committee adopted Amendment 1 to the Executive Severance Allowance Plan, under which the CEO becomes eligible for enhanced severance including 24 months of COBRA premium coverage and a lump-sum payment equal to 200% of Base Pay if terminated without Cause. The company also entered new Change in Control (CIC) Severance Agreements effective September 11, 2025 with its listed executive officers, replacing prior CIC agreements. The CIC Agreements provide for cash severance payable if an executive is terminated within two years after a Change in Control, calculated as a multiple of base salary plus Annual Bonus (assuming target) plus a prorated Annual Bonus and an additional payment tied to a one-year post-termination non-compete restriction. New Indemnification Agreements were also executed with executives and non-employee directors; full terms are in the attached exhibits.
La DTE Energy Company ha aggiornato i contratti di compenso esecutivo e gli accordi di protezione nel settembre 2025. Il Comitato di Amministrazione del Piano Benefici ha adottato l\'Amaendment 1 al Executive Severance Allowance Plan, secondo il quale il CEO diventa idoneo per una indennità di licenziamento potenziata che include 24 mesi di copertura premi COBRA e un pagamento in unica soluzione pari al 200% della Base Pay se licenziato senza causa. L\'azienda ha anche stipulato nuovi Accordi di Indennità in caso di Cambio di Controllo (CIC) efficaci dall\'11 settembre 2025 con i suoi dirigenti elencati, sostituendo i precedenti accordi CIC. Gli accordi CIC prevedono una liquidazione in contanti se un dirigente è licenziato entro due anni dopo un Cambio di Controllo, calcolata come multiplo del salario base più Bonus Annuale (supponendo obiettivo) più un Bonus Annuale pro‑rata e un pagamento aggiuntivo legato a una restrizione di non concorrenza di un anno post‑terminazione. Nuovi Accordi di Indennità sono stati anche stipulati con dirigenti e direttori non dipendenti; i termini completi sono negli allegati allegati.
La empresa DTE Energy Company actualizó la compensación ejecutiva y los acuerdos de protección en septiembre de 2025. El Comité de Administración del Plan de Beneficios aprobó la Enmienda 1 al Executive Severance Allowance Plan, con la cual el CEO pasa a ser elegible para una rescisión mejorada que incluye 24 meses de cobertura de primas COBRA y un pago único equivalente al 200% del Salario Base si es despedido sin causa. La empresa también firmó nuevos Acuerdos de Indemnización por Cambio de Control (CIC) vigentes desde el 11 de septiembre de 2025 con sus ejecutivos listados, reemplazando los acuerdos CIC anteriores. Los Acuerdos CIC prevén indemnización en efectivo si un ejecutivo es despedido dentro de los dos años siguientes a un Cambio de Control, calculada como múltiplo del salario base másbonificación anual (asumiendo objetivo) más una bonificación anual prorrateada y un pago adicional vinculado a una restricción de no competencia de un año después de la terminación. También se firmaron nuevos Acuerdos de Indemnización con ejecutivos y directores no empleados; los términos completos se encuentran en los anexos adjuntos.
DTE Energy Company는 2025년 9월에 임원 보상 및 보호 계약을 업데이트했습니다. Benefit Plan Administration Committee는 Executive Severance Allowance Plan에 대한 개정안 1를 채택했으며, 이를 통해 CEO는 COBRA 프리미엄 보장 24개월 및 기본급의 200%에 해당하는 일시금을 받게 되며, 이유 없는 해고 시 적용됩니다. 또한 회사는 2025년 9월 11일부로 효력이 시작된 새로운 Change in Control(CIC) Severance Agreements를 목록에 기재된 임원들과 체결했고, 기존 CIC 계약을 대체합니다. CIC 계약은 Change in Control 이후 2년 이내에 해고될 경우 현금 퇴직금을 제공하도록 하며, 기본급의 배수에 목표로 가정된 연간 보너스, 비례 배분된 연간 보너스, 해고 후 1년 간의 비경쟁 제한과 연계된 추가 지급을 포함합니다. 또한 경영진 및 비상근 이사들과의 새로운 Indemnification Agreements도 체결되었으며, 전체 조항은 첨부된 부록에 있습니다.
La société DTE Energy Company a mis à jour la rémunération des cadres et les accords de protection en septembre 2025. Le Comité d’Administration du Plan d’Avantages l’a adopté l’Amendement 1 au Executive Severance Allowance Plan, selon lequel le PDG devient admissible à une indemnité de départ renforcée comprenant 24 mois de couverture COBRA et un paiement forfaitaire équivalant à 200% du salaire de base s’il est licencié sans cause. L’entreprise a également conclu de nouveaux Accords d’indemnisation en cas de changement de contrôle (CIC) en vigueur à partir du 11 septembre 2025 avec ses cadres listés, remplaçant les accords CIC antérieurs. Les accords CIC prévoient une indemnité en espèces si un cadre est licencié dans les deux ans suivant un changement de contrôle, calculée comme un multiple du salaire de base plus la Prime Annuelle (supposée cible) plus une prime annuelle proratisée et un paiement additionnel lié à une restriction de non-concurrence d’un an après la terminaison. De nouveaux Accords d’indemnisation ont également été conclus avec les cadres et les administrateurs non salariés; les termes complets figurent dans les annexes ci-joints.
DTE Energy Company hat die Vergütung der Führungskräfte und Schutzvereinbarungen im September 2025 aktualisiert. Der Benefit Plan Administration Committee hat Aktualisierung 1 zum Executive Severance Allowance Plan verabschiedet, wonach der CEO Anspruch auf eine verbesserte Abfindung hat, einschließlich 24 Monaten COBRA‑Prämiendeckung und einer Einmalzahlung in Höhe von 200% des Grundgehalts, falls er ohne triftigen Grund gekündigt wird. Das Unternehmen hat zudem neue Severance Agreements bei Change in Control (CIC) in Kraft gesetzt, gültig ab dem 11. September 2025, mit den aufgelisteten Führungskräften und ersetzt frühere CIC‑Vereinbarungen. Die CIC‑Vereinbarungen sehen eine Barabfindung vor, wenn ein Führungskraft innerhalb von zwei Jahren nach einem Change in Control entlassen wird, berechnet als Vielfaches des Grundgehalts zuzüglich Jahresbonus (Zielannahme) zuzüglich anteiliger Jahresbonus und einer zusätzlichen Zahlung im Zusammenhang mit einer einjährigen Nicht‑Wettbewerbs‑Restriktion nach der Beendigung. Ebenfalls wurden neue Indemnification Agreements mit Führungskräften und Nicht‑Angestellten‑Direktoren abgeschlossen; die vollständigen Bedingungen finden sich in den beigefügten Anlagen.
شركة DTE Energy قامت بتحديث تعويض التنفيذيين واتفاقيات الحماية في سبتمبر 2025. اعتمدت لجنة إدارة خطة المزايا التعديل 1 على خطة بدلات الفصل التنفيذي، وفقاً لها يصبح الرئيس التنفيذي مؤهلاً للحصول على تعويض فصل محسن يشمل تغطية COBRA لمدة 24 شهراً و دفع دفعي يعادل 200% من الأجر الأساسي في حال فصله بدون سبب. كما أن الشركة أبرمت اتفاقيات جديدة لتعويض التغيير في السيطرة (CIC) سارية بدءاً من 11 سبتمبر 2025 مع المدراء التنفيذيين المدرجين، وتستبدل اتفاقيات CIC السابقة. تقدم اتفاقيات CIC تعويضاً نقدياً إذا تم فصل أحد المدراء خلال عامين من التغيير في السيطرة، محسوباً كمضاعف للأجر الأساسي إضافة إلى مكافأة سنوية (افتراض الهدف) إضافة إلى مكافأة سنوية نسبياً ودفعة إضافية مرتبطة بقيود عدم المنافسة لمدة عام واحد بعد الفصل. كما تم توقيع اتفاقيات جديدة للتحمل والتعويض مع المدراء التنفيذيين وأعضاء المجلس غير الموظفين؛ وتوجد الشروط الكاملة في الملاحق المرفقة.
DTE Energy Company 在2025年9月更新了高管薪酬和保护协议。福利计划管理委员会通过了 对执行人员离职补偿计划的修订案1，使 CEO 有资格获得更高的离职赔偿，包括 24个月 COBRA 保险覆盖以及在无正当理由解雇时获得一个 等同于基本工资200%的一次性支付。公司还于2025年9月11日生效，与其列出的高管签署了新的 控股变动（CIC）离职协议，取代此前的 CIC 协议。CIC 协议规定，在控股变动后两年内被解雇时可获得现金离职赔偿，按基本工资的倍数再加上目标假设的年度奖金、按比例的年度奖金，以及解雇后一年非竞争限制相关的额外给付。还与高管及非雇员董事签署了新的 赔偿协议（Indemnification Agreements）；完整条款见附带的展品。
- Enhanced continuity incentives through strengthened CIC severance may help retain executives during strategic transactions
- Clearer standardized agreements replacing prior arrangements can reduce ambiguity around post-termination payments
- Increased contingent compensation obligations including 200% of CEO base pay and multi-year CIC severance could raise future cash or accounting costs
- Potential governance concerns if enhanced benefits are viewed as excessively generous without disclosed cost/metric context
Insights
TL;DR: Company strengthened executive protections and severance for continuity around potential transactions.
The amendments and new agreements standardize and enhance post-termination protections for senior management, notably a generous CEO severance benefit and multi-year CIC severance protections tied to target bonus assumptions and non-compete consideration. These measures are typical to retain leadership through potential change-in-control events and to align incentives during strategic transactions. Materiality hinges on the magnitude of severance multiples (not disclosed here) and potential dilutive or cash impacts; the filing references exhibits for specific terms.
TL;DR: Severance enhancements increase fixed post-employment obligations and continuity incentives.
The CEO-level enhancement (200% of Base Pay plus 24 months COBRA) and CIC framework that uses multiples of salary and target bonus increase the company's contingent compensation liabilities. The inclusion of payment for a one-year non-compete is a common market practice to preserve value after a CIC. Quantitative impact is not provided in the text; details are in the cited exhibits and would determine accounting and cash-flow effects.
La DTE Energy Company ha aggiornato i contratti di compenso esecutivo e gli accordi di protezione nel settembre 2025. Il Comitato di Amministrazione del Piano Benefici ha adottato l\'Amaendment 1 al Executive Severance Allowance Plan, secondo il quale il CEO diventa idoneo per una indennità di licenziamento potenziata che include 24 mesi di copertura premi COBRA e un pagamento in unica soluzione pari al 200% della Base Pay se licenziato senza causa. L\'azienda ha anche stipulato nuovi Accordi di Indennità in caso di Cambio di Controllo (CIC) efficaci dall\'11 settembre 2025 con i suoi dirigenti elencati, sostituendo i precedenti accordi CIC. Gli accordi CIC prevedono una liquidazione in contanti se un dirigente è licenziato entro due anni dopo un Cambio di Controllo, calcolata come multiplo del salario base più Bonus Annuale (supponendo obiettivo) più un Bonus Annuale pro‑rata e un pagamento aggiuntivo legato a una restrizione di non concorrenza di un anno post‑terminazione. Nuovi Accordi di Indennità sono stati anche stipulati con dirigenti e direttori non dipendenti; i termini completi sono negli allegati allegati.
La empresa DTE Energy Company actualizó la compensación ejecutiva y los acuerdos de protección en septiembre de 2025. El Comité de Administración del Plan de Beneficios aprobó la Enmienda 1 al Executive Severance Allowance Plan, con la cual el CEO pasa a ser elegible para una rescisión mejorada que incluye 24 meses de cobertura de primas COBRA y un pago único equivalente al 200% del Salario Base si es despedido sin causa. La empresa también firmó nuevos Acuerdos de Indemnización por Cambio de Control (CIC) vigentes desde el 11 de septiembre de 2025 con sus ejecutivos listados, reemplazando los acuerdos CIC anteriores. Los Acuerdos CIC prevén indemnización en efectivo si un ejecutivo es despedido dentro de los dos años siguientes a un Cambio de Control, calculada como múltiplo del salario base másbonificación anual (asumiendo objetivo) más una bonificación anual prorrateada y un pago adicional vinculado a una restricción de no competencia de un año después de la terminación. También se firmaron nuevos Acuerdos de Indemnización con ejecutivos y directores no empleados; los términos completos se encuentran en los anexos adjuntos.
DTE Energy Company는 2025년 9월에 임원 보상 및 보호 계약을 업데이트했습니다. Benefit Plan Administration Committee는 Executive Severance Allowance Plan에 대한 개정안 1를 채택했으며, 이를 통해 CEO는 COBRA 프리미엄 보장 24개월 및 기본급의 200%에 해당하는 일시금을 받게 되며, 이유 없는 해고 시 적용됩니다. 또한 회사는 2025년 9월 11일부로 효력이 시작된 새로운 Change in Control(CIC) Severance Agreements를 목록에 기재된 임원들과 체결했고, 기존 CIC 계약을 대체합니다. CIC 계약은 Change in Control 이후 2년 이내에 해고될 경우 현금 퇴직금을 제공하도록 하며, 기본급의 배수에 목표로 가정된 연간 보너스, 비례 배분된 연간 보너스, 해고 후 1년 간의 비경쟁 제한과 연계된 추가 지급을 포함합니다. 또한 경영진 및 비상근 이사들과의 새로운 Indemnification Agreements도 체결되었으며, 전체 조항은 첨부된 부록에 있습니다.
La société DTE Energy Company a mis à jour la rémunération des cadres et les accords de protection en septembre 2025. Le Comité d’Administration du Plan d’Avantages l’a adopté l’Amendement 1 au Executive Severance Allowance Plan, selon lequel le PDG devient admissible à une indemnité de départ renforcée comprenant 24 mois de couverture COBRA et un paiement forfaitaire équivalant à 200% du salaire de base s’il est licencié sans cause. L’entreprise a également conclu de nouveaux Accords d’indemnisation en cas de changement de contrôle (CIC) en vigueur à partir du 11 septembre 2025 avec ses cadres listés, remplaçant les accords CIC antérieurs. Les accords CIC prévoient une indemnité en espèces si un cadre est licencié dans les deux ans suivant un changement de contrôle, calculée comme un multiple du salaire de base plus la Prime Annuelle (supposée cible) plus une prime annuelle proratisée et un paiement additionnel lié à une restriction de non-concurrence d’un an après la terminaison. De nouveaux Accords d’indemnisation ont également été conclus avec les cadres et les administrateurs non salariés; les termes complets figurent dans les annexes ci-joints.
DTE Energy Company hat die Vergütung der Führungskräfte und Schutzvereinbarungen im September 2025 aktualisiert. Der Benefit Plan Administration Committee hat Aktualisierung 1 zum Executive Severance Allowance Plan verabschiedet, wonach der CEO Anspruch auf eine verbesserte Abfindung hat, einschließlich 24 Monaten COBRA‑Prämiendeckung und einer Einmalzahlung in Höhe von 200% des Grundgehalts, falls er ohne triftigen Grund gekündigt wird. Das Unternehmen hat zudem neue Severance Agreements bei Change in Control (CIC) in Kraft gesetzt, gültig ab dem 11. September 2025, mit den aufgelisteten Führungskräften und ersetzt frühere CIC‑Vereinbarungen. Die CIC‑Vereinbarungen sehen eine Barabfindung vor, wenn ein Führungskraft innerhalb von zwei Jahren nach einem Change in Control entlassen wird, berechnet als Vielfaches des Grundgehalts zuzüglich Jahresbonus (Zielannahme) zuzüglich anteiliger Jahresbonus und einer zusätzlichen Zahlung im Zusammenhang mit einer einjährigen Nicht‑Wettbewerbs‑Restriktion nach der Beendigung. Ebenfalls wurden neue Indemnification Agreements mit Führungskräften und Nicht‑Angestellten‑Direktoren abgeschlossen; die vollständigen Bedingungen finden sich in den beigefügten Anlagen.
| (State or other jurisdiction of incorporation or organization) | (I.R.S Employer Identification No.) | |||||||
Title of Each Class | Trading Symbol(s) | Name of Exchange on which Registered | ||||||||||||
10.1 | Amendment 1 to DTE Energy Company Executive Severance Allowance Plan | ||||
10.2 | Form of Change in Control Severance Agreement, dated as of September 11, 2025, between DTE Energy Company and each of Diane M. Antishin, Joi M. Harris, Trevor F. Lauer, Kathrine M. Lorenz, Gerardo Norcia, Matthew T. Paul, Robert A. Richard, David Ruud and Mark W. Stiers | ||||
10.3 | Form of Change in Control Severance Agreement, dated as of September 11, 2025, between DTE Energy Company and Lisa A. Muschong | ||||
10.4 | Form of Change in Control Severance Agreement, dated as of September 11, 2025, between DTE Energy Company and Tracy J. Myrick | ||||
10.5 | Form of Indemnification Agreement between DTE Energy Company and each Executive Officer and non-employee Director | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
| DTE Energy Company | |||||
| (Registrant) | |||||
| /s/Diane M. Antishin | |||||
| Diane M. Antishin | |||||
| Senior Vice President - Human Resources and Chief Diversity and Inclusion Officer | |||||
FAQ
What changes were made to the Executive Severance Allowance Plan at DTE (DTW)?
Who signed the new Change in Control agreements with DTE?
What severance payments do the CIC Agreements provide?
Were indemnification agreements also executed?
Where can I find the full terms and amounts for these agreements?
