Enbridge sets incoming CEO base salary at US$1.2M
Michele Harradence will participate in Enbridge’s senior management pension plan, a non-contributory defined benefit plan, and receive temporary housing in Calgary.
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Rhea-AI Filing Summary
Enbridge Inc. approved compensation for Michele Harradence, who will become President and Chief Executive Officer effective January 1, 2027. Her base salary will be US$1,200,000, with a 150% base-salary target under the Short Term Incentive Plan and an 850% base-salary target under the 2019 Long Term Incentive Plan, split 60% performance stock units, 20% restricted stock units and 20% incentive stock options.
Greg Ebel will continue as an employee in an advisory capacity from January 1 through May 7, 2027, receiving his current annualized base salary pro rata, with transition support through 2027.
8-K Event Classification
Key Figures
Key Terms
Short Term Incentive Plan financial
performance stock units financial
restricted stock units financial
incentive stock options financial
non-contributory defined benefit plan financial
FAQ
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What compensation will Michele Harradence receive as ENB CEO?
How long will Greg Ebel serve as an adviser to ENB?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
(Amendment No. 1)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported):
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
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Explanatory Note
This Amendment No. 1 to the Current Report on Form 8-K (this “Amendment”) amends and supplements Item 5.02 of Enbridge Inc.’s ("Enbridge” or the “Corporation”) Current Report on Form 8-K filed on September 8, 2026 (the “Original Form 8-K”) to disclose compensation arrangements approved in connection with the Corporation’s previously announced CEO transition. This Amendment should be read in conjunction with the Original Form 8-K. Except as set forth below, the Original Form 8-K remains unchanged.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 4, 2026, the Board of Directors (“Board”) of the Corporation approved the compensation for Michele Harradence, currently Executive Vice President and President, Gas Distribution and Storage of the Corporation, who will succeed Greg Ebel as President and Chief Executive Officer of the Corporation effective January 1, 2027. In her role as President and Chief Executive Officer, Ms. Harradence will receive a base salary of US$1,200,000 and will be eligible to earn an annual discretionary bonus under Enbridge’s Short Term Incentive Plan, with a target of 150% of her base salary. Ms. Harradence’s incentive target under Enbridge’s 2019 Long Term Incentive Plan will be 850% of her base salary, with a 60%/20%/20% split among performance stock units, restricted stock units and incentive stock options, respectively. Ms. Harradence will also participate in Enbridge’s senior management pension plan, a non-contributory defined benefit plan. In addition, Enbridge will provide Ms. Harradence with housing in Calgary on a temporary basis.
The Board has also approved compensation for Mr. Ebel, who will continue as an Enbridge employee in an advisory capacity from January 1, 2027 through May 7, 2027. Mr. Ebel will receive his current annualized base salary pro rata for such period. Mr. Ebel will receive office, administrative, information technology and tax preparation support through the remainder of 2027 for transition purposes.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
ENBRIDGE INC. (Registrant) | ||
| Date: November 6, 2026 | By: | /s/ David Taniguchi |
|
David Taniguchi Vice President, Legal & Corporate Secretary (Duly Authorized Officer) | ||