Daniel Stoddard
Director at AEP
Board
About Daniel G. Stoddard
Independent director at AEP since August 2023; age 62. Background includes owner/principal of Stoddard Consulting Services, LLC (utility industry consulting focused on nuclear generation) since 2024, and retired senior vice president and chief nuclear officer at Dominion Energy (2016–Aug 2023) alongside President–Contracted Assets (2019–Aug 2023), with prior nuclear operations leadership roles (2010–2016). Independence affirmed under NASDAQ and AEP standards; designated an SEC “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Dominion Energy, Inc. | Senior Vice President & Chief Nuclear Officer | 2016 – Aug 2023 | Oversaw operations of seven nuclear units across three states; extensive operational, risk management, safety, and regulatory experience |
| Dominion Energy, Inc. | President – Contracted Assets | 2019 – Aug 2023 | Oversaw >50 contracted solar facilities across nine states; renewables portfolio leadership |
| Dominion Energy, Inc. | Senior Vice President – Nuclear Operations | 2011 – 2016 | Nuclear operations leadership; focus on physical security and cybersecurity |
| Dominion Energy, Inc. | Vice President – Nuclear Operations | 2010 – 2011 | Nuclear operations management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Stoddard Consulting Services, LLC | Owner & Principal | 2024 – Present | Utility industry consulting focused on nuclear generation |
| — | Current Public Company Directorships | — | None |
| — | Prior Public Company Directorships (last 5 years) | — | None |
Board Governance
- Committee assignments: Audit (member), Nuclear Oversight (Chair), Technology (member). Appointed to Audit and Technology in April 2024; Policy Committee service in 2023 prior to its dissolution in April 2024.
- Audit Committee Financial Expert: Board determined Stoddard qualifies under SEC rules.
- Independence: Board determined Stoddard has no material relationship and is independent under NASDAQ and AEP standards.
- Attendance: 2024 average director attendance 97.5%; each director attended 86.7% or more of Board/committee meetings; Board held 4 regular in-person meetings, plus 2 regular and 4 special by videoconference.
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit | Member | 5 |
| Nuclear Oversight | Chair | 4 |
| Technology | Member | 4 |
Nuclear Oversight scope: Board-level oversight of AEP’s nuclear generation management and operations; Technology oversight includes cybersecurity, AI-related risks, and operational resiliency; Audit oversight includes internal controls and independent auditor appointment/fees.
Fixed Compensation
| Compensation Element (2024) | Amount |
|---|---|
| Annual Retainer (cash) | $130,000 |
| Committee Chair Annual Retainer – Nuclear Oversight | $20,000 |
| Annual Stock Unit Awards (equity) | $170,000 |
| Accidental death insurance (company-paid premium) | $685 |
| Independent Chair Retainer (for Chair; not applicable to Stoddard) | $200,000 |
| Lead Director Retainer (if applicable; not applicable to Stoddard) | $50,000 |
| Retainer Deferral Plan availability (non-qualified, market-based options incl. AEP stock fund) | Available |
| Stoddard – 2024 Director Compensation | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | $151,666 |
| Stock Awards (grant-date fair value) | $170,000 |
| All Other Compensation | $685 |
| Total | $322,351 |
Notes: Board uses cash + AEP stock units; chair premiums recognize added responsibilities; no tax gross-ups for directors; expenses reimbursed per policy; Meridian serves as independent director compensation consultant; October 2024 review made no changes.
Performance Compensation
- Equity form: AEP stock units credited quarterly at fixed value ($170,000 annually for full-year service); dividend equivalents accrue; fully vested and paid in shares after termination unless further deferred.
- 2024 grant quantity: Full-year non-employee directors received 1,853 AEP stock units (exceptions noted did not include Stoddard).
| Equity Award Metrics (2024) | Detail |
|---|---|
| Annual equity value | $170,000 |
| Units credited (full-year) | 1,853 units |
| Vesting | Fully vested stock units |
| Dividend treatment | Dividend equivalents accrue as additional units |
| Settlement | Shares after termination (unless further deferred) |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Prior public company boards (last 5 years) | None |
| Shared directorships with competitors/customers/suppliers | None disclosed |
Expertise & Qualifications
- Nuclear generation leadership (oversaw seven nuclear units); renewables portfolio oversight (>50 contracted solar facilities); deep regulatory interface with federal administrators; operational risk, safety, personnel development, environmental matters; physical and cybersecurity experience.
- Board recruited Stoddard specifically for senior executive experience in nuclear, renewables, strategy, and risk management aligned to AEP’s long-term strategy.
Equity Ownership
| Holder | As-of Date | Shares | Stock Units | Total |
|---|---|---|---|---|
| Daniel G. Stoddard | Feb 23, 2025 | — | 2,819 | 2,819 |
| Daniel G. Stoddard | 2024 Year-End | — | 4,379 | 4,379 (fully vested) |
- None of the shares in the ownership table are pledged; directors and officers as a group own <1% of outstanding common stock.
- Stock ownership guidelines: non-employee directors must own AEP stock or stock units equal to first five years of annual equity awards; stock units are held until termination during first five years of service.
Governance Assessment
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Strengths
- Nuclear Oversight Chair with direct nuclear operations expertise; aligns oversight rigor to a critical risk area for AEP.
- Audit Committee member and SEC-defined “financial expert” status; enhances financial reporting and controls oversight.
- Technology Committee member with cybersecurity oversight remit, relevant to operational resiliency and AI risk governance.
- Independence affirmed; robust overall Board attendance in 2024 and director-level expectations for preparation and participation.
-
Alignment & Incentives
- Director pay mix balances cash ($151,666) and equity ($170,000) with mandatory stock holding guidelines (first five years), supporting shareholder alignment.
- Fully vested stock units and deferred settlement post-service encourage long-term perspective and discourage short-termism.
-
Conflicts & Related Parties
- Owner of industry consulting firm (Stoddard Consulting Services, LLC); no related party transactions with AEP disclosed; independence affirmed.
- Directors do not receive tax gross-ups; no Section 16 delinquency noted for Stoddard.
-
Engagement Signals
- Specific committee meeting cadence (Audit 5; Nuclear Oversight 4; Technology 4 in 2024) indicates active oversight in Stoddard’s domains.
- Appointment to Audit and Technology in April 2024 shows expanded remit beyond nuclear to enterprise risk and cybersecurity.
RED FLAGS: None disclosed specific to Stoddard (no related-party transactions; no hedging/pledging noted; no attendance concerns disclosed).