(State of Incorporation) | (IRS Employer Identification No.) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
None | None | None |
Category | Goal | Weight | ||||||
Safety & Compliance 15% Maximum Potential Payout | 2 or fewer lost work day cases for injuries to Company employees and specified contractor employees | 5% | ||||||
7 or fewer recordable incidents for injuries to Company employees and specified contractor employees | 5% | |||||||
Infrastructure Protection: Implementation of 2022 cyber security objectives | 5% | |||||||
Culture 5% Maximum Potential Payout | Implementation of 2022 inclusion & diversity objectives | 5% | ||||||
System Performance 60% Maximum Potential Payout | ITCTransmission: 12 or fewer forced, sustained line outages, excluding certain catastrophic weather events | 5% | ||||||
METC: 23 or fewer forced, sustained line outages, excluding certain catastrophic weather events | 5% | |||||||
ITC Midwest: 57 or fewer forced, sustained line outages, excluding certain catastrophic weather events, no more than 46 at the 69 kV level | 5% | |||||||
ITCTransmission: Complete the 15 high priority 2022 field operation and maintenance initiatives | 5% | |||||||
METC: Complete the 13 high priority 2022 field operation and maintenance initiatives | 5% | |||||||
ITC Midwest: Complete the 10 high priority 2022 field operation and maintenance initiatives | 5% | |||||||
ITCTransmission, METC, ITC Midwest, and ITC Great Plains: Complete $802 million of the 2022 Capital Expenditure budget for approved projects to achieve 30%; complete $760 million to achieve 15% | 15%-30% | |||||||
Financial 20% Maximum Potential Payout | ITCTransmission, METC, ITC Midwest, ITC Great Plains, and ITC Interconnection: Non-field operation and maintenance expense and general and administrative expense at or under budget of $161 million | 10% | ||||||
ITCTransmission, METC, ITC Midwest, ITC Great Plains, and ITC Interconnection: Combined adjusted net income at or above $544 million to achieve 10%; at or above $517 million to achieve 5% | 5%-10% | |||||||
Total | 100% |
ITC HOLDINGS CORP. | |||||||||||
By: | /s/ Christine Mason Soneral | ||||||||||
Christine Mason Soneral | |||||||||||
Its: | Senior Vice President, General Counsel, Chief Compliance Officer and Secretary | ||||||||||
Document and Entity Information Document |
Nov. 11, 2021 |
---|---|
Entity Information [Line Items] | |
Document Type | 8-K |
Document Period End Date | Nov. 11, 2021 |
Entity Registrant Name | ITC HOLDINGS CORP. |
Entity Central Index Key | 0001317630 |
Amendment Flag | false |
Entity File Number | 001-32576 |
Entity Incorporation, State or Country Code | MI |
Entity Tax Identification Number | 32-0058047 |
Entity Address, Address Line One | 27175 Energy Way |
Entity Address, City or Town | Novi |
Entity Address, State or Province | MI |
Entity Address, Postal Zip Code | 48377 |
City Area Code | 248 |
Local Phone Number | 946-3000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
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