Tracy Myrick
DTE ENERGYAbout Tracy Myrick
Tracy J. Myrick is DTE Energy’s Chief Accounting Officer (principal accounting officer), serving in this role since June 21, 2021; she is 49 years old as of March 13, 2025 . As CAO, she signs DTE’s SEC filings (e.g., S‑8 on May 30, 2025; Form 10‑Q signatures on July 29, 2025 and October 30, 2025), reflecting direct oversight of financial reporting and internal controls . Company performance context for incentive alignment: 2024 operating EPS was $6.83, cash from operations was $3.64B, and five‑year TSR measured to 2024 was 129% (2019=100) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DTE Energy | Chief Accounting Officer | 2021–present | Principal accounting officer; SEC filing signatory and internal control oversight |
| DTE Energy | Various positions (not individually enumerated) | 5+ years prior to current role | Company notes executive officers have held various roles at DTE for five or more years |
External Roles
- No public disclosures of external directorships or roles for Ms. Myrick were identified in DTE’s 2024–2025 proxy statements.
Fixed Compensation
- Not disclosed for Ms. Myrick (she is not a Named Executive Officer in the proxy Summary Compensation Tables) .
Performance Compensation
Companywide design applies to executive officers (including CAO); short‑term AIP metrics and long‑term PSUs emphasize financials, reliability, customer and employee outcomes.
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Annual Incentive Plan (AIP) – 2024 metrics and outcomes for top utility executives (framework for executives enterprise‑wide): | Measure | Weight | Threshold | Target | Maximum | 2024 Result | Payout | Weighted Payout | |---|---:|---|---|---|---|---:|---:| | Adjusted Operating EPS | 20% | $6.54 | $6.69 | $6.83 | $6.83 | 200.0% | 40.00% | | Cash from Operations ($mm) | 20% | 2,975 | 3,306 | 3,637 | 3,650 | 200.0% | 40.00% | | Net Promoter Score | 15% | 27 | 33 | 39 | 31 | 75.0% | 11.25% | | OSHA Recordable Incident Rate | 5% | 0.68 | 0.55 | 0.42 | 0.70 | 0.0% | 0.00% | | High Energy SIF | 5% | 4 | 2 | 0 | 2 | 100.0% | 5.00% | | Employee Engagement (Gallup) | 5% | 4.17 | 4.29 | 4.44 | 4.35 | 140.0% | 7.00% | | Storm Customers Restored ≤48h | 10% | 88% | 93% | 98% | 95% | 140.0% | 14.00% | | CEMI4 (%) | 5% | 11.1% | 9.3% | 7.5% | 7.8% | 182.8% | 9.14% | | Nuclear Unit Capability Factor | 10% | 86.4% | 88.0% | 88.7% | 82.6% | 0.0% | 0.00% | | % HCA Miles Assessable by ILI | 5% | 96.76% | 96.85% | 96.89% | 96.92% | 200.0% | 10.00% | | Total | 100% | | | | | | 136.39% |
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Long‑Term Incentives (2024 grants; NEO template applied; executives receive mix of PSUs and time‑based RS):
- Mix: ~70% Performance Shares, ~30% Restricted Stock .
- 2024 PSU performance period: 1/1/2024–12/31/2026; payout after Committee certification in early 2027; TSR vs peer group and 3‑yr cumulative operating EPS are the primary metrics (DTE Vantage leaders have a business‑unit growth metric as well) .
- Restricted Stock from 1/31/2024 grant vests on 1/31/2027 (3‑year vest) .
- Company has not granted stock options since 2010; no option repricing; minimum 1‑year vesting on equity plan .
Equity Ownership & Alignment
- Hedging/pledging: Officers and directors are prohibited from hedging or pledging DTE stock; no margin accounts .
- Stock ownership guidelines: Executives must hold DTE stock within five years; guidelines scale by level (e.g., CEO 5× salary; other specified NEOs 4×; others 1–3× depending on level). As of Dec 31, 2024, all required executives with ≥5 years in role met guidelines .
- Option exposure: None expected; company ceased option grants in 2010 .
- Individual beneficial ownership for Ms. Myrick is not tabulated in the proxy’s “Security Ownership” tables (which list directors and NEOs) .
Employment Terms
| Agreement/Policy | Key Economics/Terms | Trigger | Notes |
|---|---|---|---|
| Change‑in‑Control Severance Agreement (Form signed by Ms. Myrick 9/11/2025) | Cash severance equals a multiple of base salary + target annual bonus; plus a lump‑sum pro‑rated annual bonus; additional cash for a 1‑year non‑compete; no excise tax gross‑up | Double‑trigger: termination (actual or constructive) within 2 years after a CIC | Ms. Myrick is party to the standard CIC Agreement form; company description outlines structure but does not state her specific multiple in the 8‑K summary . |
| Equity on CIC | If awards are assumed by the acquirer: full vest only upon qualifying termination within 2 years; if not assumed: vesting fully accelerates at CIC; performance shares settle at greater of target or actual‑to‑date | CIC / Qualifying termination | Applies company‑wide under LTIP . |
| Executive Severance Allowance Plan (all officers except CEO participate) | Lump‑sum severance equal to 100% of base salary + target bonus; 12 months COBRA or cash equivalent; up to 6 months outplacement | Involuntary termination without cause | Plan participation covers officers; CEO is separately covered. The proxy details NEO illustrations; structure governs officers, including CAO . |
| Indemnification | Standard executive officer indemnification agreement | N/A | Form of indemnification agreement referenced with executives on 9/16/2025 . |
| Clawback | Recovery of incentive compensation following an accounting restatement (3‑year lookback) | Restatement | Board‑adopted policy; applies to executive officers . |
Investment Implications
- Pay-for-performance architecture: Ms. Myrick’s incentives tie to company‑level EPS, cash from operations, reliability, safety and engagement metrics in the AIP, and TSR plus multi‑year financial metrics in PSUs—aligning the CAO’s pay with financial quality and service outcomes important to investors .
- Retention and overhang: No stock options and three‑year vesting on RS/PSUs reduce near‑term selling pressure; 2024 grants vest/payout in early 2027, a potential liquidity window across management rather than continuous churn .
- Governance safeguards: Prohibitions on hedging/pledging and robust ownership guidelines strengthen alignment; double‑trigger CIC terms, absence of tax gross‑ups, and clawback policy limit shareholder‑unfriendly optics .
- Change‑in‑control economics: Ms. Myrick has a CIC agreement using the company’s standard form (cash severance based on base + target bonus, pro‑rated bonus, non‑compete consideration), and equity treatment favorable upon non‑assumption or post‑CIC termination; these reduce retention risk in strategic scenarios while capping excess by design (no single‑trigger, no gross‑ups) .
Disclosures used: executive officer listing and CAO role/age/tenure ; SEC filing signatures by Ms. Myrick ; 2024 company performance and incentive outcomes ; equity program structure and vesting ; hedging/pledging prohibitions ; ownership guidelines ; executive severance plan ; change‑in‑control terms and forms (including Ms. Myrick’s agreement) –.