Mark C. Lindgren
Executive Vice President, Corporate Communications, and Chief Human Resources Officer at AEE
Executive
About Mark C. Lindgren
Mark C. Lindgren, 57, serves as Executive Vice President, Corporate Communications, and Chief Human Resources Officer (CHRO) of Ameren Services (since March 2023), after serving as Senior Vice President, Corporate Communications, and CHRO (September 2015–February 2023) . During his current tenure, Ameren delivered 2024 diluted EPS of $4.42 GAAP ($4.65 weather-normalized adjusted) and approximately 27.5% TSR for 2024, with three-year relative TSR at the 44th percentile (2022–2024) driving 2024 STIP base payouts at 131.6% of target and NEO final payouts near 151% of target . Ameren advanced large-scale clean energy and grid investments in 2024 (>$4.3B capex), including 500 MW of solar in service and new approvals for additional generation, supporting the strategic backdrop under which the HR and communications functions operate .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ameren Services | Executive Vice President, Corporate Communications & Chief Human Resources Officer | Mar 2023–Present | Not disclosed in proxy |
| Ameren Services | Senior Vice President, Corporate Communications & Chief Human Resources Officer | Sep 2015–Feb 2023 | Not disclosed in proxy |
External Roles
- No external board or outside roles for Lindgren are disclosed in the executive officer section reviewed .
Fixed Compensation
- Individual base salary, target bonus %, and actual bonus for Lindgren are not disclosed (he is not a Named Executive Officer in the proxy) .
- Program context: Ameren sets base salary annually; officers participate in a Short-Term Incentive Plan (STIP) weighted primarily to EPS with safety, customer, operational, and economic opportunity & inclusion metrics and an individual performance modifier -.
Performance Compensation
Ameren’s program design for senior executives (contextual to Lindgren’s role; individual outcomes for Lindgren not disclosed):
| Metric / Vehicle | Weighting | Target (as defined) | 2024 Actual/Payout | Vesting / Period |
|---|---|---|---|---|
| STIP – EPS | 70% | Board-approved budget aligned with GAAP EPS guidance | Included in 131.6% base payout; NEO final payout 151.3% after individual modifiers | Annual cash, paid following year |
| STIP – Safety (c2c engagement, job-safety briefing c2c, HSIF) | 10% | Metric-specific thresholds/targets/maximums | Included in 131.6% base payout - | Annual |
| STIP – Customer (SAIDI, CSAT/ESRT) | 10% | Metric-specific | Included in 131.6% base payout | Annual - |
| STIP – Operational (INPO Index) | 5% | Metric-specific | Included in 131.6% base payout - | Annual - |
| STIP – Economic Opportunity & Inclusion (Local small/diverse spend; workforce opportunity) | 5% | Metric-specific (with 2024 adjustment) | Included in 131.6% base payout; EOI payout reduced for criteria expansion - | Annual - |
| LTIP – PSUs (Relative TSR) | 60% of LTI | 3-year TSR vs utility peer group | 2022-grant earned at 88% for 2022–2024 period; stock moved from $87.71 (grant) to $89.14 (12/31/24) | 3-year performance; share settlement |
| LTIP – PSUs (Clean Energy Transition) | 10% of LTI | 3-year MW of renewable/storage additions and fossil retirements | 2022-grant earned at 200% (2,518 MW vs max 1,785 MW) | 3-year performance; share settlement |
| LTIP – RSUs (time-based) | 30% of LTI | Time vest | Approx. 3-year cliff vest | ~3 years |
Notes:
- 2024 STIP base earned 131.6% of target after EPS and EOI adjustments; NEO final payout was 151.3% of target (individual modifier) .
- Lindgren’s individual payout is not disclosed; table reflects program design and disclosed company outcomes .
Equity Ownership & Alignment
| Policy/Item | Detail |
|---|---|
| Beneficial ownership (individual) | Not individually disclosed for Lindgren (ownership table covers directors and NEOs; executives shown as group total) . |
| All execs/directors as a group | 921,277 shares as of March 10, 2025 (23 persons) . |
| Stock ownership guidelines (Senior Leadership Team) | CEO: 6x salary; CFO and Segment Presidents: 3x; Other Section 16 Officers: 2x; Other SLT: 1x. If below guideline, must retain ≥75% of after-tax vested shares until compliant . |
| Pledging/Hedging | Prohibited for executive officers and directors (anti-pledging and anti-hedging policies) . |
| Insider trading controls | Formal insider trading policy applies to directors, officers, employees, and certain third parties . |
| Lock-up (May 2025 equity offering) | Lindgren was listed among officers subject to lock-up in Ameren’s May 2025 common stock offering documentation . |
Employment Terms
| Plan/Provision | Trigger | Key Economics / Terms | Notes |
|---|---|---|---|
| Officer Severance Plan (all officers participate) | Involuntary termination without Cause | Lump-sum ≈ 1x base salary + target annual cash incentive; pro-rated annual incentive based on actual performance; 12 months subsidized medical; outplacement | Applies to all officers; Lindgren is an executive officer so covered . |
| Change-of-Control (CIC) Plan (designated officers incl. NEOs) | Double-trigger (CoC + qualifying termination w/o Cause or for Good Reason within 2 years) | Cash lump-sum: 3x base salary + 3x target STIP; additional pension credit; continued health/welfare benefits for severance period; up to $30k outplacement; excise tax gross-up only for officers designated before Oct 1, 2009 - | “Designated officers” not listed by name; NEOs included; double-trigger design -. |
| LTIP treatment on CIC | Depends on public status and termination | If public and employed: vest/pay on normal schedule; if company ceases to be public, awards convert to deferred cash with interest and pay per schedule/qualifying events; qualifying termination accelerates per plan | Detailed scenarios in plan table . |
| Employment agreements | Ameren discloses no written or unwritten employment agreements for NEOs (executives are at-will); non-NEO executive agreements not disclosed . | ||
| Clawback | Dodd-Frank compliant recoupment for restatements; additional clawback authority for detrimental conduct or violations of confidentiality/non-solicit provisions . | ||
| Perquisites | Limited; reimbursements for financial and tax planning services and other limited benefits . | ||
| Retirement/Deferred comp | Employee benefit plans include 401(k) and pension; supplemental retirement benefits (tax-limited make-whole) and a deferred comp program to defer base salary/STIP at market rates . |
Performance & Track Record (Company context during Lindgren’s current tenure)
| Metric | 2023 | 2024 |
|---|---|---|
| Diluted EPS (GAAP) | $4.38 | $4.42 |
| Diluted EPS (Weather-normalized adjusted, non-GAAP) | $4.41 | $4.65 |
| Total Shareholder Return (calendar year) | ~-16% | ~27.5% |
| Relative TSR (3-yr performance period) | 2021–2023: 12th in peer group (78% payout on TSR PSUs) - | 2022–2024: 11th in peer group (88% payout on TSR PSUs) |
| Clean Energy Transition PSU result (3-yr) | 2021 grant: 55.6% payout | 2022 grant: 200% payout (2,518 MW) |
Related Party & Governance Safeguards
- Related person transactions policy in place; no related person transactions reported in 2024 -.
- Section 16 reporting compliance: the company reports directors and executive officers complied with filing requirements during 2024 .
- Say-on-Pay: approximately 95% approval at the 2024 annual meeting; 2024 program structure continued in 2025 .
Investment Implications
- Alignment: Strong anti-pledging/anti-hedging policies, formal clawbacks, and stock ownership guidelines support long-term alignment and reduce governance risk; Lindgren’s inclusion on the May 2025 lock-up further constrained near-term selling, mitigating potential insider selling pressure during that window .
- Incentive design: Heavy EPS weighting in STIP and TSR/Clean Energy in LTIP tie compensation to financial, reliability/safety, customer outcomes, and energy transition execution—factors material to regulated utility value creation and rate base growth - .
- Retention risk/economics: As an officer, Lindgren is covered by the Officer Severance Plan (1x salary + target bonus plus benefits), with potential CIC protections if designated, featuring double-trigger terms typical for utilities; absence of employment agreements suggests at-will employment but is balanced by market-standard severance and CIC scaffolding -.
- Monitoring: Individual ownership levels, vesting schedules, and any Form 4 trading for Lindgren are not disclosed in the proxy—monitor future insider filings for changes; company-wide policies and strong say-on-pay support reduce red-flag risk .