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Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

In accordance with Item 402(v) of Regulation

S-K,

we are providing the following information regarding the relationship between compensation of our CEO or Principal Executive Officer (PEO) and NEOs and certain financial performance measures of PSEG for the fiscal years ended on December 31, 2023, December 31, 2022, December 31, 2021 and December 31, 2020. For further information on PSEG’s

pay-for-performance

philosophy and how executive compensation aligns with the Company’s performance, refer to the Compensation Discussion and Analysis section of this Proxy Statement.


Year		Summary Compensation Table Total for PEO #1 (1&2) ($)				Compensation Actually Paid to PEO #1 (1&3) ($)				Summary Compensation Table Total for PEO #2 (1&2) ($)				Compensation Actually Paid to PEO #2 (1&3) ($)				Average Summary Compensation Table Total for Non-PEO NEOs (1&2) ($)				Average Compensation Actually Paid to Non-PEO NEOs ($) (1&3)				Value of Initial Fixed $100 Investment based on Total Shareholder Return ($) (4)				Value of Initial Fixed $100 Investment based on Peer Group Total Shareholder Return ($) (4)				Net Income (Loss) ($ millions) (5)				Operating EPS (Non-GAAP) ($) (6)

2023			N/A				N/A				11,778,863				12,972,702				3,578,301				3,490,761				119.14				115.43				2,563				3.48

2022			12,869,210				1,495,352				9,510,542				6,408,817				2,733,718				1,371,783				114.98				121.88				1,031				3.47

2021			14,208,674				16,757,115				-				-				3,834,217				4,311,559				121.14				119.44				(648	)			3.65

2020			14,308,254				21,440,227				-				-				3,677,833				4,733,261				102.37				101.68				1,905				3.43

(1)	NEOs included in these columns reflect the following:


Year		PEO#1		PEO#2		Non-PEO NEOs

2023		N/A		Mr. LaRossa		Mr. Cregg, Ms. Linde, Ms. Hanemann, and Mr. McFeaters

2022		Mr. Izzo		Mr. LaRossa		Mr. Cregg, Ms. Linde, Ms. Hanemann, and Mr. Carr

2021		Mr. Izzo		N/A		Mr. Cregg, Mr. LaRossa, Ms. Linde, and Mr. Daly

2020		Mr. Izzo		N/A		Mr. Cregg, Mr. LaRossa, Ms. Linde, and Mr. Daly

(2)	Amounts reflect the total compensation for our NEOs, as reported in the Summary Compensation Table for each applicable year.

(3)

In accordance with Item 402(v) requirements, the fair values of unvested and outstanding equity awards were remeasured as of the end of each fiscal year, and as of each vesting date, during the years displayed in the tables below. For PSUs with a relative TSR metric, the fair values as of each measurement date (prior to the end of the performance period) were determined using a Monte Carlo simulation pricing model, with assumptions and methodologies that are generally consistent with those used to estimate fair value at grant under U.S. GAAP. The range of estimates used in the Monte Carlo calculations are as follows: (i) for 2023, volatility between

20%-22%

and risk-free rate between

4.1%-4.7%;

(ii) for 2022, volatility between

19%-41%

and risk-free rate of 0.1%; (iii) for 2021, volatility between

30%-32%

and risk-free rate between

0.4%-0.7%;

and (iv) for 2020, volatility between

22%-24%

and risk-free rate between

4.3%-4.6%.

For PSUs with a ROIC metric, fair values reflect the probable outcome of the performance vesting conditions as of each measurement date. For a discussion of the assumptions made in the valuation at grant, see Note 18 to the Consolidated Financial Statements included in our 2023 Form

10-K.

In calculating the “compensation actually paid” amounts reflected in the columns below, the adjustments made to the pension benefit values were computed in accordance with U.S. GAAP. For each fiscal year reflected, the “compensation actually paid” to the PEO and the average “compensation actually paid” to the

non-PEO

NEOs reflect the following adjustments made to the total compensation amounts reported in the Summary Compensation Table for each applicable fiscal year, computed in accordance with Item 402(v) of

Regulation

S-K.



		PEO#1																PEO#2

		2022 ($)				2021 ($)				2020 ($)								2023 ($)				2022 ($)
Summary Compensation Table Total for PEO			12,869,210				14,208,674				14,308,254								11,778,863				9,510,542
Less: Grant Date Fair Value of Equity Awards and Less; Change in Actuarial Present Value of Benefits Reported in the Summary Compensation Table			(9,100,044)				(9,100,065)				(10,435,075)								(8,611,097)				(7,350,100)
Add: Actuarially Determined Service Cost for Services Rendered During the Fiscal Year			392,466				424,401				475,639								174,497				231,485
Add: Entire Cost of Benefits Granted in an Amendment or Initiation During the Applicable Fiscal Year Attributed to Services Rendered Prior to the Amendment or Initiation			-				-				-								-				-
Add: Year-End Fair Value of Awards Granted in the Applicable Year that are Outstanding and Unvested			7,541,414				10,314,918				11,254,928								6,343,518				6,615,452
Add: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year			(7,704,660)				(2,861,237)				1,673,319								308,466				(2,032,007)
Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year			-				-				-								2,404,260				-
Add: Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards			(2,900,512)				2,891,656				2,923,601								789,539				(764,993)
Less: Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year			-				-				-								(785,420)				-
Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation			397,478				878,768				1,239,561								570,075				198,439

Compensation Actually Paid for PEO			1,495,352				16,757,115				21,440,227								12,972,702				6,408,817



		2023 ($)				2022 ($)				2021 ($)				2020 ($)
Summary Compensation Table Total for NEOs (other than PEO)			3,578,301				2,733,718				3,834,217				3,677,833
Less: Grant Date Fair Value of Equity Awards and Less; Change in Actuarial Present Value of Benefits Reported in the Summary Compensation Table			(2,283,846)				(1,437,564)				(1,841,049)				(2,365,541)
Add: Actuarially Determined Service Cost for Services Rendered During the Fiscal Year			109,349				141,217				201,866				179,836
Add: Entire Cost of Benefits Granted in an Amendment or Initiation During the Applicable Fiscal Year Attributed to Services Rendered Prior to the Amendment or Initiation			-				-				-				-
Add: Year-End Fair Value of Awards Granted in the Applicable Year that are Outstanding and Unvested			1,638,171				1,191,343				1,929,838				2,065,496
Add: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year			142,962				(925,014)				(503,004)				406,831
Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year			438,642				-				-				-
Add: Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards			118,477				(395,767)				528,106				508,560
Less: Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year			(364,013)				-				-				-
Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation			112,717				63,850				161,585				260,246

Compensation Actually Paid for NEOs (other than PEO)			3,490,761				1,371,783				4,311,559				4,733,261

(4)

The Company’s TSR and the Company’s Peer Group TSR reflected in these columns for each applicable fiscal year is calculated based on a fixed investment of $100 at the applicable measurement point on the same cumulative basis as is used in Item 201(e) of Regulation

S-K.

The Peer Group used to determine the Company’s Peer Group TSR for each applicable fiscal year is the following published industry index (Dow Jones Utilities (DJU) Index), as disclosed in our 2023 Annual Report on Form

10-K

for fiscal year ended 2023 pursuant to Item 201(e) of Regulation

S-K.

(5)	Amounts reflect PSEG’s net income as reported in our audited financial statements for the applicable year.

(6)

While we use numerous financial and

non-financial

performance measures to evaluate performance under our compensation programs,

Non-GAAP

Operating EPS is the financial performance measure that, in PSEG’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to NEOs, for the most recently completed fiscal year, to company performance.

Company Selected Measure Name

Operating EPS

Named Executive Officers, Footnote

(1)	NEOs included in these columns reflect the following:


Year		PEO#1		PEO#2		Non-PEO NEOs

2023		N/A		Mr. LaRossa		Mr. Cregg, Ms. Linde, Ms. Hanemann, and Mr. McFeaters

2022		Mr. Izzo		Mr. LaRossa		Mr. Cregg, Ms. Linde, Ms. Hanemann, and Mr. Carr

2021		Mr. Izzo		N/A		Mr. Cregg, Mr. LaRossa, Ms. Linde, and Mr. Daly

2020		Mr. Izzo		N/A		Mr. Cregg, Mr. LaRossa, Ms. Linde, and Mr. Daly

Peer Group Issuers, Footnote

The Company’s TSR and the Company’s Peer Group TSR reflected in these columns for each applicable fiscal year is calculated based on a fixed investment of $100 at the applicable measurement point on the same cumulative basis as is used in Item 201(e) of Regulation

S-K.

The Peer Group used to determine the Company’s Peer Group TSR for each applicable fiscal year is the following published industry index (Dow Jones Utilities (DJU) Index), as disclosed in our 2023 Annual Report on Form

10-K

for fiscal year ended 2023 pursuant to Item 201(e) of Regulation

S-K.

Adjustment To PEO Compensation, Footnote



		PEO#1																PEO#2

		2022 ($)				2021 ($)				2020 ($)								2023 ($)				2022 ($)
Summary Compensation Table Total for PEO			12,869,210				14,208,674				14,308,254								11,778,863				9,510,542
Less: Grant Date Fair Value of Equity Awards and Less; Change in Actuarial Present Value of Benefits Reported in the Summary Compensation Table			(9,100,044)				(9,100,065)				(10,435,075)								(8,611,097)				(7,350,100)
Add: Actuarially Determined Service Cost for Services Rendered During the Fiscal Year			392,466				424,401				475,639								174,497				231,485
Add: Entire Cost of Benefits Granted in an Amendment or Initiation During the Applicable Fiscal Year Attributed to Services Rendered Prior to the Amendment or Initiation			-				-				-								-				-
Add: Year-End Fair Value of Awards Granted in the Applicable Year that are Outstanding and Unvested			7,541,414				10,314,918				11,254,928								6,343,518				6,615,452
Add: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year			(7,704,660)				(2,861,237)				1,673,319								308,466				(2,032,007)
Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year			-				-				-								2,404,260				-
Add: Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards			(2,900,512)				2,891,656				2,923,601								789,539				(764,993)
Less: Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year			-				-				-								(785,420)				-
Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation			397,478				878,768				1,239,561								570,075				198,439

Compensation Actually Paid for PEO			1,495,352				16,757,115				21,440,227								12,972,702				6,408,817

Non-PEO NEO Average Total Compensation Amount

$ 3,578,301

$ 2,733,718

$ 3,834,217

$ 3,677,833

Non-PEO NEO Average Compensation Actually Paid Amount

$ 3,490,761

1,371,783

4,311,559

4,733,261

Adjustment to Non-PEO NEO Compensation Footnote



		2023 ($)				2022 ($)				2021 ($)				2020 ($)
Summary Compensation Table Total for NEOs (other than PEO)			3,578,301				2,733,718				3,834,217				3,677,833
Less: Grant Date Fair Value of Equity Awards and Less; Change in Actuarial Present Value of Benefits Reported in the Summary Compensation Table			(2,283,846)				(1,437,564)				(1,841,049)				(2,365,541)
Add: Actuarially Determined Service Cost for Services Rendered During the Fiscal Year			109,349				141,217				201,866				179,836
Add: Entire Cost of Benefits Granted in an Amendment or Initiation During the Applicable Fiscal Year Attributed to Services Rendered Prior to the Amendment or Initiation			-				-				-				-
Add: Year-End Fair Value of Awards Granted in the Applicable Year that are Outstanding and Unvested			1,638,171				1,191,343				1,929,838				2,065,496
Add: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year			142,962				(925,014)				(503,004)				406,831
Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year			438,642				-				-				-
Add: Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards			118,477				(395,767)				528,106				508,560
Less: Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year			(364,013)				-				-				-
Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation			112,717				63,850				161,585				260,246

Compensation Actually Paid for NEOs (other than PEO)			3,490,761				1,371,783				4,311,559				4,733,261

Compensation Actually Paid vs. Total Shareholder Return

Relationship Between Compensation Actually Paid for CEO and NEOs (Average) vs. Cumulative TSR of Company and the Peer Group

The graph below illustrates the trend in “compensation actually paid” over the four years compared to our TSR performance, as well as TSR relative to the DJU Index. This illustrates that compensation decreased in 2021 and TSR performance increased. For 2022, compensation moved in alignment with our TSR performance, decreasing in 2022. In 2023, compensation increased in alignment

wit

h our TSR performance. Our TSR performance was stronger than the DJU Index in 2020, 2021 and 2023.

Compensation Actually Paid vs. Net Income

Relationship Between Compensation Actually Paid for CEO and NEOs (Average) vs. Net Income (Loss)

The graph below illustrates the trend in “compensation actually paid” over the four years to our GAAP Net Income (Loss). This illustrates that in 2021 compensation moved in alignment with net income, decreasing in 2021. For 2022, compensation decreased and net income increased. For 2023, both compensation and net income increased.

Compensation Actually Paid vs. Company Selected Measure

Relationship Between Compensation Actually Paid for CEO and NEOs (Average) vs.

Non-GAAP

Operating EPS

The graph below illustrates the trend in “compensation actually paid” over the four years to our Operating EPS

(non-GAAP).

This illustrates that in 2021 compensation decreased and Operating EPS increased. For 2022, compensation moved in alignment with Operating EPS, decreasing in 2022. For 2023, our compensation increased in alignment with Operating EPS.

Total Shareholder Return Vs Peer Group

Relationship Between Compensation Actually Paid for CEO and NEOs (Average) vs. Cumulative TSR of Company and the Peer Group

The graph below illustrates the trend in “compensation actually paid” over the four years compared to our TSR performance, as well as TSR relative to the DJU Index. This illustrates that compensation decreased in 2021 and TSR performance increased. For 2022, compensation moved in alignment with our TSR performance, decreasing in 2022. In 2023, compensation increased in alignment

wit

h our TSR performance. Our TSR performance was stronger than the DJU Index in 2020, 2021 and 2023.

Tabular List, Table

Most Important Company Performance Measures for Determining Executive Compensation

As also required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation

S-K,

below is a list of the performance measures that are considered the most important by the Company in determining executive compensation for the 2023 performance year. The performance measures included in this table are not ranked by relative importance.



		Most Important Performance Measures

		Operating Earnings Per Share (non-GAAP)

		Relative Total Shareholder Return

		Return on Invested Capital

		Earnings Per Share Growth

		Environmental, Social, Governance (ESG) Index

Total Shareholder Return Amount

$ 119.14

114.98

121.14

102.37

Peer Group Total Shareholder Return Amount

115.43

121.88

119.44

101.68

Net Income (Loss)

$ 2,563,000,000

$ 1,031,000,000

$ (648,000,000)

$ 1,905,000,000

Company Selected Measure Amount

3.48

3.47

3.65

3.43

Volatility Minimum

20.00%

19.00%

30.00%

22.00%

Volatility Maximum

22.00%

41.00%

32.00%

24.00%

Risk Free Rate Minimum

4.10%

0.40%

4.30%

Risk Free Rate Maximum

4.70%

0.10%

0.70%

4.60%

Pay vs Performance Disclosure

Operating Earnings Per Share (non-GAAP)

Non-GAAP Measure Description

While we use numerous financial and

non-financial

performance measures to evaluate performance under our compensation programs,

Non-GAAP

Operating EPS is the financial performance measure that, in PSEG’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to NEOs, for the most recently completed fiscal year, to company performance.

Pay vs Performance Disclosure

Relative Total Shareholder Return

Pay vs Performance Disclosure

Return on Invested Capital

Pay vs Performance Disclosure

Earnings Per Share Growth

Pay vs Performance Disclosure

Environmental, Social, Governance (ESG) Index

Mr. Izzo [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

$ 12,869,210

$ 14,208,674

$ 14,308,254

PEO Actually Paid Compensation Amount

$ 1,495,352

$ 16,757,115

$ 21,440,227

Mr. Izzo

Mr. Izzo

Mr. Izzo

Mr. LaRossa [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

$ 11,778,863

$ 9,510,542

PEO Actually Paid Compensation Amount

$ 12,972,702

$ 6,408,817

Mr. LaRossa

Mr. LaRossa

PEO | Mr. Izzo [Member] | Less Grant Date Fair Value Of Equity Awards And Less Change In Actuarial Present Value Of Benefits [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (9,100,044)

$ (9,100,065)

$ (10,435,075)

PEO | Mr. Izzo [Member] | Add Actuarially Determined Service Cost For Services Rendered [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

392,466

424,401

475,639

PEO | Mr. Izzo [Member] | Add YearEnd Fair Value of Awards Granted in the Applicable Year that are Outstanding and Unvested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

7,541,414

10,314,918

11,254,928

PEO | Mr. Izzo [Member] | Add Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(7,704,660)

(2,861,237)

1,673,319

PEO | Mr. Izzo [Member] | Add Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(2,900,512)

2,891,656

2,923,601

PEO | Mr. Izzo [Member] | Add Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

397,478

878,768

1,239,561

PEO | Mr. LaRossa [Member] | Less Grant Date Fair Value Of Equity Awards And Less Change In Actuarial Present Value Of Benefits [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (8,611,097)

(7,350,100)

PEO | Mr. LaRossa [Member] | Add Actuarially Determined Service Cost For Services Rendered [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

174,497

231,485

PEO | Mr. LaRossa [Member] | Add YearEnd Fair Value of Awards Granted in the Applicable Year that are Outstanding and Unvested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

6,343,518

6,615,452

PEO | Mr. LaRossa [Member] | Add Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

308,466

(2,032,007)

PEO | Mr. LaRossa [Member] | Add Fair Value as of Vesting Date of Equity Awards Granted and Vested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

2,404,260

PEO | Mr. LaRossa [Member] | Add Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

789,539

(764,993)

PEO | Mr. LaRossa [Member] | Less Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(785,420)

PEO | Mr. LaRossa [Member] | Add Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

570,075

198,439

Non-PEO NEO | Less Grant Date Fair Value Of Equity Awards And Less Change In Actuarial Present Value Of Benefits [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(2,283,846)

(1,437,564)

(1,841,049)

(2,365,541)

Non-PEO NEO | Add Actuarially Determined Service Cost For Services Rendered [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

109,349

141,217

201,866

179,836

Non-PEO NEO | Add YearEnd Fair Value of Awards Granted in the Applicable Year that are Outstanding and Unvested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,638,171

1,191,343

1,929,838

2,065,496

Non-PEO NEO | Add Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

142,962

(925,014)

(503,004)

406,831

Non-PEO NEO | Add Fair Value as of Vesting Date of Equity Awards Granted and Vested [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

438,642

Non-PEO NEO | Add Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

118,477

(395,767)

528,106

508,560

Non-PEO NEO | Less Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(364,013)

Non-PEO NEO | Add Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 112,717

$ 63,850

$ 161,585

$ 260,246