Angela Rieger
About Angela Rieger
Angela S. Rieger, age 57, has served as an independent director of MGE Energy since 2024; she is currently Executive Vice President and Chief Transformation Officer at Lands’ End through an announced retirement in April 2025, with prior senior leadership roles in international/wholesale and global planning and inventory . She is independent under Nasdaq standards, with committee assignments on Human Resources and Compensation and Corporate Governance; board policy requires >75% meeting attendance, and each director met that threshold in 2024 . She serves on boards of Thrivent Financial and American Family Children’s Hospital Development Partners Advisory Board; prior boards include Clean Lakes Alliance and Women in Retail Leadership .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lands’ End | Executive Vice President, Chief Transformation Officer | 2023–Apr 2025 (retirement announced) | Responsible for all aspects of product lifecycle from development through sale; strategy and operations oversight |
| Lands’ End | Senior Vice President, International & Wholesale | 2019–2022 | Strategy and growth in international and wholesale channels |
| Lands’ End | Senior Vice President, Global Planning & Inventory | 2014–2019 | Planning and inventory leadership across global operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Thrivent Financial | Director | Current | Financial services organization; governance experience |
| American Family Children’s Hospital Development Partners | Advisory Board Member | Current | Community and healthcare engagement |
| Clean Lakes Alliance | Director | Prior | Nonprofit environmental organization |
| Women in Retail Leadership | Director | Prior | Industry leadership and networking |
Board Governance
- Committee Memberships: Human Resources & Compensation; Corporate Governance; not a committee chair .
- Independence: Board determined Rieger is independent under Nasdaq and company standards .
- Attendance: Board met 10 times in 2024; committees held 13 meetings (Audit 5; Human Resources & Compensation 6; Corporate Governance 2); each director attended >75% of board and relevant committee meetings .
- Annual Meeting Attendance: Directors are expected to attend; all directors attended last year’s virtual Annual Meeting .
- Lead Independent Director governance: LID chairs Corporate Governance; strong independent oversight structure .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $68,667 | 2024 pro-rated cash compensation from March 1, 2024 start date |
| Stock Awards (RSUs) | $67,000 | March 2024 grant under 2021 LTI Plan; three-year time-based vesting; pro-rated for 2024 start |
| All Other Compensation | $1,500 | Director educational activity fee |
| Total 2024 Compensation | $137,167 | Sum of above |
| Standard Annual Retainer (nonemployee directors) | $50,000 | Fixed cash retainer |
| Meeting Fees | $1,500 per board/committee meeting | Applies per meeting attended |
| Chair Fees (if applicable) | Audit: $12,500; HRC: $10,000; LID/Governance Chair: $12,500 | Rieger is not a chair |
- Stock Ownership Guidelines: Directors must hold at least 3x annual cash retainer; expected to meet within 3 years of election (effective Jan 1, 2023 policy); all directors have achieved or are on track to achieve .
Performance Compensation
| Element | Structure | Metrics/Targets | Vesting/Settlement |
|---|---|---|---|
| Director RSUs (2024 grant) | Time-based RSUs under 2021 LTI Plan | No performance metrics for director awards | Vests at end of 3-year period; continued vesting upon death, disability or retirement; immediate vesting upon change in control; settled in stock or combination of cash and stock |
| Performance-linked Bonus/PSUs (Directors) | Not applicable | None disclosed for directors | N/A |
Director compensation at MGEE is not tied to performance metrics; equity awards for directors are time-based RSUs without EPS/TSR conditions .
Other Directorships & Interlocks
| Company/Entity | Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Thrivent Financial | Financial services (non-public) | Director | No related-person transactions disclosed by MGEE; independence maintained |
| American Family Children’s Hospital Development Partners | Healthcare nonprofit | Advisory Board | No related-person transactions disclosed by MGEE |
| Clean Lakes Alliance; Women in Retail Leadership | Nonprofit/industry | Director (prior) | No related-person transactions disclosed by MGEE |
- Related Person Transactions: “There were no related person transactions requiring disclosure since the beginning of 2024 fiscal year” .
Expertise & Qualifications
- Strategic leadership, operations oversight, and organizational governance from senior roles at Lands’ End .
- Board skills flagged: Strategic Leadership/Governance, Financial Acumen, Customer/Community/Workforce, Environmental/Safety, Legal/Regulated Industry, Operations .
Equity Ownership
| Holder | Beneficial Shares | % of Class | Restricted Stock Units (counted for ownership guidelines) | Total “Qualifying Shares” for Guidelines |
|---|---|---|---|---|
| Angela S. Rieger | 0 | <1% | 1,979 RSUs | 1,979 |
- Anti-Pledging and Hedging: Company prohibits pledging shares and hedging by directors and executive officers .
- Ownership Guidelines: 3x cash retainer for directors; all directors achieved or on track .
Insider Trades (Form 4/3)
| Filing Date | Transaction Date | Type | Security | Quantity | Post-Transaction Ownership | SEC URL |
|---|---|---|---|---|---|---|
| 2025-03-04 | 2025-03-03 | A (Award) | Restricted Stock Units | 918 | 918 RSUs | https://www.sec.gov/Archives/edgar/data/1161728/000095017025032296/0000950170-25-032296-index.htm |
| 2024-03-04 | 2024-03-01 | A (Award) | Restricted Stock Units | 1,061 | 1,061 RSUs | https://www.sec.gov/Archives/edgar/data/1161728/000095017024024759/0000950170-24-024759-index.htm |
| 2024-03-01 | 2024-03-01 | Form 3 | Common Stock | — | Initial filing (no beneficial common reported) | https://www.sec.gov/Archives/edgar/data/1161728/000095017024023608/0000950170-24-023608-index.htm |
[Insider trades tool output confirms quantities, ownership type, and URLs for filings.]
Governance Assessment
- Independence and Committee Roles: Rieger is independent under Nasdaq standards and serves on Human Resources & Compensation and Corporate Governance, supporting board oversight of pay, succession, governance policy, and board composition .
- Attendance and Engagement: Board met 10 times; committees met 13 times; each director attended >75%—a positive signal for engagement and effectiveness; directors are expected to attend Annual Meetings and did so last year .
- Director Compensation and Alignment: 2024 compensation comprised cash fees and time-based RSUs; stock ownership guidelines require 3x cash retainer, with directors achieved/on track; anti-pledging/hedging policies strengthen alignment .
- Compensation Committee Practices: HRC Committee is fully independent; uses independent consultants (Willis Towers Watson; FW Cook starting 2025); executive pay metrics include EPS, ROE, relative TSR, customer satisfaction, and reliability—indicating disciplined pay-for-performance governance at the company level .
- Shareholder Signals: Say-on-pay support ~94% at 2024 meeting and 5-year average ~94%, reflecting investor confidence in compensation governance .
- Conflicts/Related Parties: No related person transactions requiring disclosure since 2024; combined CEO/Chair structure mitigated via a strong Lead Independent Director who chairs Governance and Executive Committee .
Director Compensation Details (Reference)
| Item | Policy/Practice |
|---|---|
| Cash Retainer | $50,000 annually for nonemployee directors |
| Meeting Fees | $1,500 per board/committee meeting; $1,500 per director educational activity |
| Chair Fees | Audit Chair $12,500; HRC Chair $10,000; Lead Independent Director/Governance Chair $12,500 |
| Equity | Annual RSU grant (time-based) under 2021 LTI Plan; three-year cliff vest; continued vesting on death/disability/retirement; immediate vesting on change of control; settled in stock or cash/stock combination |
| Ownership Guidelines | 3x annual cash retainer; achieve within three years; directors achieved/on track |
RED FLAGS: None disclosed—no related-party transactions; anti-pledging/hedging in place; committee independence; strong attendance; director equity time-based, not performance-linked .