UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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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).
Emerging 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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers
On October 31, 2022, James R. Chapman provided notice of his intent to resign as Executive Vice President and Chief Financial Officer of Dominion Energy, Inc. (“Dominion Energy” or the “Company”) and its subsidiaries, effective November 23, 2022, to pursue employment at another company.
On November 4, 2022, Dominion Energy announced that Steven D. Ridge will succeed Mr. Chapman as Senior Vice President and Chief Financial Officer, effective November 24, 2022.
Mr. Ridge, age 42, has served as Vice President and General Manager–Western Distribution of the Company and its subsidiaries since October 2021. Prior to that, Mr. Ridge served as Vice President – Investor Relations from April 2019 to September 2021 and Director – Investor Relations from October 2017 to March 2019. From March 2014 to September 2017, Mr. Ridge held various leadership roles in financial analysis and mergers and acquisitions within the Company. Prior to joining Dominion Energy in 2014, Mr. Ridge was an Executive Director in the Energy Investment Banking Group at J.P. Morgan.
Effective November 24, 2022, Mr. Ridge’s annual base salary will be $600,000 with an annual incentive plan target of 70% of his base salary. In recognition of Mr. Ridge’s promotion and to bridge him to the issuance of 2023 long-term incentive awards, he will receive a one-time payment of $350,000 payable in December 2022, and a one-time restricted stock award under the Company’s 2014 Incentive Compensation Plan in the amount of $350,000 to be issued on December 1, 2022, which will vest ratably over three years, subject to Mr. Ridge’s continued employment.
Mr. Ridge will also be eligible for a long-term incentive award under the Company’s 2023 Long-Term Incentive Program (LTIP) to be adopted by the Compensation and Talent Development Committee in January 2023, in an amount and in the form to be determined by the committee. He will also be eligible to participate in the benefit plans and arrangements generally available to the Company’s other executive officers.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibits | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
| DOMINION ENERGY, INC. | ||
| Registrant | ||
| By: |
/s/ Carter M. Reid | |
| Carter M. Reid | ||
| Executive Vice President, President – Dominion Energy Services | ||
Date: November 4, 2022
Document and Entity Information |
Oct. 31, 2022 |
|---|---|
| Cover [Abstract] | |
| Document Period End Date | Oct. 31, 2022 |
| Entity Registrant Name | DOMINION ENERGY, INC |
| Amendment Flag | false |
| Entity Central Index Key | 0000715957 |
| Document Type | 8-K |
| Entity Incorporation State Country Code | VA |
| Entity File Number | 001-08489 |
| Entity Tax Identification Number | 54-1229715 |
| Entity Address, Address Line One | 120 Tredegar Street |
| Entity Address, City or Town | Richmond |
| Entity Address, State or Province | VA |
| Entity Address, Postal Zip Code | 23219 |
| City Area Code | (804) |
| Local Phone Number | 819-2000 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, no par value |
| Trading Symbol | D |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |