Julie Laulis

About Julie Laulis

Julie M. Laulis (age 62) is an independent director of AES since 2020, serving on the Compensation Committee and the Innovation and Technology Committee. She is President & CEO of Cable One, Inc. (since 2017) and Chair of its Board (since 2018). She holds a B.A. from Indiana University Bloomington and has extensive operating experience in broadband communications and customer-centric transformation.

Past Roles

External Roles

Board Governance

• Independence: The Board determined Ms. Laulis is independent under NYSE rules; AES has ten of eleven independent nominees, with separate Chair and CEO roles.
• Committee assignments:
  • 2024 Board year: Compensation (member); Innovation & Technology (member).
  • 2023 Board year: Audit (member, designated “financially literate” and as an SEC “audit committee financial expert”); Innovation & Technology (member).
• Attendance and engagement: In 2024, the Board met nine times; committees met as shown below; average director attendance was 96%, and no director was below 75%. Independent directors held executive sessions after seven Board meetings, chaired by the Lead Independent Director.
• Committee meeting frequency (2024): Audit (8), Compensation (7), Governance (6), Innovation & Technology (5).

Fixed Compensation

• Structure: Non‑employee directors receive a $100,000 annual retainer (cash or elective deferral to deferred stock units (DSUs)), plus an annual DSU grant valued at $175,000, fully vested at grant and typically paid after Board service ends. Committee chair fees are: Audit $25,000; Compensation $20,000; Governance $20,000; Innovation & Technology $20,000. The Chair of the Board receives 1.62x the annual retainer and 1.74x the DSU grant relative to other directors.
• Julie Laulis (2024): Fees earned $100,000; Stock awards $175,000; Total $275,000. She elected to defer $100,000 of her annual retainer into DSUs. Grant date closing price was $17.13 per share for DSU valuation.
• Governance alignment: Non‑employee directors must reach equity ownership of at least 5× the annual retainer within five years of Board appointment; AES reports all directors have attained or are on track.

Performance Compensation

• No performance‑based elements are disclosed for non‑employee director compensation; DSU grants are fully vested at grant with payment timing deferred to end of Board service.

Other Directorships & Interlocks

• Overboarding policy: Non‑employee directors may not serve on more than four public boards; members of the Audit Committee may not serve on more than three audit committees; Board reports all current members comply. Ms. Laulis’ public company service (AES + Cable One) is within limits.

Expertise & Qualifications

• Strategy & growth, public policy & regulatory, and innovation/customer solutions expertise from leading a regulated broadband provider, collaborating with government stakeholders, and managing large operational footprints.
• Financial oversight experience via prior Audit Committee membership and designation as “financially literate” and “audit committee financial expert” in 2023.

Equity Ownership

• Beneficial ownership: 73,848 AES shares (less than 1% of class).
• DSUs credited to account under the 2003 Long‑Term Compensation Plan as of December 31, 2024: 72,348 units.
• Hedging/pledging: Company policy prohibits all directors from hedging or pledging AES securities, including margin accounts or using AES stock as collateral.
• Stock ownership guidelines: Non‑employee directors must reach ≥5× annual retainer within five years; AES reports all directors have attained or are on track.

Governance Assessment

• Strengths:
  • Independence affirmed; robust committee service across Compensation and Innovation & Technology in 2024; prior Audit Committee service and audit financial expertise enhance oversight breadth.
  • Consistent engagement: Board average attendance 96% with regular executive sessions of independent directors.
  • Ownership alignment via DSUs and stringent 5× retainer guideline, with hedging/pledging prohibited.
  • No related‑party transactions in 2024 involving directors; clear policy framework for review and approval if any arise.
  • Overboarding limits in place and reported compliance; her two public company boards align with policy.
• Watch items (not red flags):
  • Director equity awards are fully vested at grant and lack explicit performance conditions; alignment is through ownership and deferral rather than performance metrics. This is common for directors but reduces pay‑for‑performance linkage versus executives.
• Shareholder feedback signal:
  • AES received over 96% support on say‑on‑pay in 2024, indicating constructive investor sentiment toward compensation governance overall.