Robert Durian
ALLIANT ENERGYAbout Robert Durian
Robert J. Durian is Executive Vice President and Chief Financial Officer (CFO) of Alliant Energy (LNT), serving as EVP & CFO since February 2020 after prior finance leadership roles (SVP & CFO; SVP, CFO & Treasurer; and VP, CFO & Treasurer). He is 54 years old as of February 21, 2025 and serves as CFO across Alliant Energy and its regulated utilities IPL and WPL . Pay-for-performance outcomes tied to his compensation include: 2024 annual incentive funded at 82% based on Company metrics (EPS, customer reliability/experience, environmental, workforce, safety) ; the 2022–2024 TSR performance shares paid 0% (below 40th percentile) while 2022–2024 net income awards paid 94% (5.3% three-year CAGR vs 5.5% target) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Alliant Energy (AE, IPL, WPL) | EVP & CFO | Feb 2020–present | Responsible officer certifying AE/utility filings; oversees disclosure controls and internal control over financial reporting . |
| Alliant Energy (AE) | SVP & CFO | Feb 2019–Feb 2020 | Led finance transition to EVP role; maintained SOX certifications . |
| Alliant Energy (AE) | SVP, CFO & Treasurer | Jan 2018–Feb 2019 | Oversaw finance and treasury; progressed to SVP & CFO . |
| Alliant Energy (AE) | VP, CFO & Treasurer | Dec 2016–Jan 2018 | Finance leadership across AE; set foundation for subsequent promotions . |
External Roles
No external directorships or public company roles disclosed for Robert J. Durian in Company filings .
Fixed Compensation
| Year | Base Salary ($) | EXSTIP Target (% of Salary) | Actual Annual Incentive Paid ($) |
|---|---|---|---|
| 2023 | $650,000 | 80% | $473,200 |
| 2024 | $650,000 | 80% | $426,400 |
Notes: 2024 EXSTIP Company performance achieved 82% of target (applied uniformly to NEOs) .
Performance Compensation
Annual Incentive Framework (2024)
| Metric | Weight | Target | Actual | Payout to Performance Pool |
|---|---|---|---|---|
| EPS (Adjusted from Continuing Ops) | 70% | Threshold $2.99; Target $3.06; Max $3.14 | $3.04 | 52% |
| Customer Interaction Survey | 5% | 8.61 | 8.51 | 4% |
| SAIDI (reliability duration) | 5% | 84.2 | 85.3 | 5% |
| SAIFI (reliability frequency) | 5% | 0.81 | 0.93 | 0% |
| Environmental (annual progress to 2030 -50% GHG goal) | 5% | 31% | 39% | 10% |
| Workforce: Inclusive Succession Pools | 2.5% | 75% | 77% | 4% |
| Workforce: Inclusive Candidate Slates | 2.5% | 75% | 74% | 2% |
| Safety: TRIR | 1.7% | 2.54 | 2.17 | 3% |
| Safety: LTIR | 1.7% | 0.48 | 0.53 | 0% |
| Safety: Injuries Reported <24 hrs | 1.6% | 95% | 95% | 2% |
| Total | 100% | — | — | 82% |
Notes: EPS is a gating metric; dividends and other adjustments to GAAP EPS for 2024 are detailed, with Adjusted EPS excluding certain items (asset valuation, restructuring, ARO, Iowa tax reform) .
Long-Term Incentive Design (2024 grants)
- Mix: 75% performance-based shares (35% TSR; 35% cumulative net income; 5% workforce composition) plus 25% time-vested RSUs .
- Vesting: three-year performance/service period (Jan 1, 2024–Dec 31, 2026); double-trigger change-in-control; payouts capped at 200% of target; dividend equivalents credited but payable only upon vest .
- TSR schedule: 50th percentile pays 100%; below 40th percentile pays 0%; up to 200% at ≥90th percentile .
- Net Income schedule: 5.5% CAGR pays 100%; 7.5% total growth pays 200%; <4% pays 0% .
| Grant Date | Award Type | Metric | Target Units (#) | Threshold/Max | Grant Date Fair Value ($) | Vesting Period |
|---|---|---|---|---|---|---|
| 2/15/2024 | Performance Shares | TSR | 10,811 | 50% / 200% of target | $497,738 (target); $995,476 (max) | 2024–2026 |
| 2/15/2024 | Performance Shares | Net Income | 10,811 | 50% / 200% of target | $523,252 (target); $1,046,504 (max) | 2024–2026 |
| 2/15/2024 | Performance Shares | Workforce Composition | 1,544 | 25% / 200% of target | $74,730 (target); $149,460 (max) | 2024–2026 |
| 2/15/2024 | Restricted Stock Units | Time-vested | 7,722 | n/a | $373,745 | Vests Dec 31, 2026 |
Historical outcomes (2012–2024 cycles relevant to current payouts):
- TSR (2022–2024): below threshold (<40th percentile), 0% payout .
- Net Income & Workforce Composition (2022–2024 PRSUs): 94% and 118% of target, respectively ; vested values shown in 2024 Stock Vested table .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial ownership (common shares) | 119,774 shares |
| Unvested RSUs | 21,307 units (not “beneficially owned” under SEC rules) |
| Ownership as % of shares outstanding | ~0.0467% (119,774 / 256,866,523) using outstanding shares at 3/10/2025 |
| Shares pledged as collateral | None for any executive officer or director |
| Stock ownership guidelines | EVP: 3.5× base salary |
| Compliance status | All current NEOs with ≥5 years in role comply; others on track |
| Options outstanding | None issued/outstanding; Company does not anticipate issuing options |
| Deferred compensation balance (AEDCP) | $3,209,729 aggregate at 12/31/2024; 2024 exec contributions $97,500; registrant contributions $14,500 |
| Non-qualified deferred “above-market” interest | $860 in 2024 |
Employment Terms
| Provision | Terms |
|---|---|
| Term length | No definite term; officers serve at pleasure of Board |
| Severance (non-CIC) | Executive Severance Plan: 1× annual base salary; up to 18 months COBRA (6 months paid); up to $10,000 outplacement/tuition; EAP access |
| Change-in-control (KEESA) | Double-trigger: benefits if terminated by Company without cause or by executive for good reason ≤2 years post-CIC (or ≤180 days pre-CIC) |
| CIC cash multiple | 2× (base salary + target annual incentive) for executive officers (non-CEO/Executive Chair) |
| Equity treatment on CIC | Double-trigger acceleration; performance awards vest at target; valued at price preceding CIC; paid at end of original performance period if still employed or qualifying termination |
| Non-compete / confidentiality | Non-compete for 1 year post-separation; confidentiality for 5 years (waivable by CEO/Board) |
| Clawback | Mandatory clawback for accounting restatement (SEC/Nasdaq compliant); legacy clawback for misconduct-related restatements |
| Tax gross-ups | None under §280G; “best-net” cutback vs full payment election |
Potential Payments (as of Dec 31, 2024; $59.14 stock price)
| Scenario | Total Pre-Tax Benefit ($) | Cash Termination ($) | Insurance Continuation ($) | Unearned Equity ($) | Outplacement / Legal ($) |
|---|---|---|---|---|---|
| Involuntary Termination Without Cause | $2,256,257 | $650,000 | $8,351 | $1,588,],"(RSU $232,122; PRSU $473,238; PS $882,546)" | $10,000 |
| CIC + Termination (Good Reason/No Cause) | $4,031,609 | $2,340,000 | $28,703 | $1,588,],"(RSU $232,122; PRSU $473,238; PS $882,546)" | $75,000 (Outplacement $65,000; Legal $10,000) |
| Death/Disability | $3,648,406 | $0 | $0 | $3,648,],"(RSU $912,116; PRSU $709,828; PS $2,026,462)" | $0 |
Note: Equity amounts reflect unearned awards valued per plan terms; see detailed breakdowns in filing .
Compensation Structure Analysis
- Cash vs equity mix: Majority of incentive value delivered in equity; 2024 LT target for Durian was 230% of base salary, vs annual incentive target 80% .
- Shift in vehicles: No stock options outstanding; Company does not issue or anticipate issuing options (lower risk profile via RSUs/PSUs) .
- Performance metrics rigor: TSR below-threshold for 2022–2024 resulted in zero payout; net income delivered 94% of target; annual EPS gating and multi-metric operational goals capped at 200% reduce risk-taking .
- Clawbacks/hedging/pledging: Strong governance (mandatory clawback; prohibition of hedging/pledging) .
- Peer benchmarking: Committee targets overall comp near market 50th percentile; uses Pay Governance; utility peer set of 20 companies .
Say-on-Pay & Shareholder Feedback
- 2024 say-on-pay approval exceeded 95% of votes cast, indicating broad investor support for compensation program .
- Ongoing outreach to holders of ~55% of shares with feedback routed to Board/committees .
Expertise & Qualifications
- Finance leadership across AE since 2016 with successive promotions culminating in EVP & CFO; certifying officer for Alliant Energy and subsidiaries (SOX 302/906), indicating strong control environment stewardship .
Work History & Career Trajectory
| Organization | Role | Years | Notable Responsibilities |
|---|---|---|---|
| Alliant Energy | VP, CFO & Treasurer | Dec 2016–Jan 2018 | Corporate finance and treasury . |
| Alliant Energy | SVP, CFO & Treasurer | Jan 2018–Feb 2019 | Expanded leadership scope . |
| Alliant Energy | SVP & CFO | Feb 2019–Feb 2020 | CFO role across AE . |
| Alliant Energy | EVP & CFO | Feb 2020–present | Enterprise-wide finance; filings/certifications . |
Equity Awards & Outstanding Holdings (Durian at 12/31/2024)
| Award Type | Grant Year | Units Unvested (#) | Market Value ($) |
|---|---|---|---|
| Performance Shares (TSR) | 2023 | 21,005 | $1,242,236 (assumes max) |
| Performance Shares (TSR) | 2024 | 22,179 | $1,311,666 (assumes max) |
| Performance RSUs (Net Income) | 2023 | 21,005 | $1,242,236 (assumes max) |
| Performance Shares (Net Income) | 2024 | 22,179 | $1,311,666 (assumes max) |
| Performance RSUs (Workforce) | 2023 | 3,000 | $177,420 (assumes max) |
| Performance Shares (Workforce) | 2024 | 3,168 | $187,356 (assumes max) |
| RSUs (time-based) | 2023 | 7,502 | $443,668 |
| RSUs (time-based) | 2024 | 7,921 | $468,448 |
Notes: Values based on $59.14 closing price at 12/31/2024; include credited dividend equivalents; vesting schedules detailed in footnotes .
Governance & Risk Indicators
- Prohibitions: No hedging or pledging; strict insider trading policy .
- Clawback: SEC/Nasdaq-compliant restatement clawback; legacy misconduct clawback .
- Related-party transactions: None since beginning of 2024 .
Compensation Peer Group (Utility)
Committee references a 20-company utility peer group (e.g., Atmos, Ameren, Avista, CenterPoint, CMS, Evergy, Eversource, NiSource, PPL, WEC, etc.) with pay targeting near the 50th percentile .
Investment Implications
- Alignment: Durian’s incentives are tightly linked to measurable outcomes (EPS gating; TSR vs EEI index; net income growth), evidenced by zero TSR payout and sub-target annual bonus in 2024—reducing windfall risk and signaling disciplined pay-for-performance .
- Retention risk: Low-to-moderate; meaningful unvested equity across multi-year cycles, ownership requirements (3.5× salary), and robust severance/CIC protections (2× cash multiple; double-trigger) encourage continuity through strategic and regulatory cycles .
- Trading/overhang: No options outstanding; prohibition of hedging/pledging and strong clawbacks mitigate adverse signaling; RSU/PSU vesting cadence may create periodic settlement flows but less immediate selling pressure .
- Governance: 95%+ say-on-pay support and multi-metric risk-balanced plan design (caps; audited metrics) suggest investor confidence in compensation governance—positive for equity holders seeking stable utility returns .