Ralph A. LaRossa
Also at PUBLIC SERVICE ENTERPRISE GROUP INC
About
Ralph A. LaRossa has established himself as a dedicated leader with decades of service at PEG. He began his career in 1985 and steadily advanced through various critical leadership roles, demonstrating expertise in business management, strategic planning, and regulatory matters.
Throughout his professional journey, he has driven operational excellence across multiple segments of the organization, holding positions such as President, COO, and ultimately, Chairman, President, and CEO. His strategic initiatives in risk management, cybersecurity, and technology have contributed significantly to the company’s overall success.
While his documented biography highlights his extensive professional contributions and academic credentials, no additional personal interests or external endeavors beyond his work at PEG have been detailed in the sources.
$PEG Performance Under Ralph A. LaRossa
Past Roles
| Organization [Source] | Role [Source] | Date Range [Source] | Details |
|---|---|---|---|
| PSEG Long Island LLC | Chair of the Board | December 2020 to August 2022 | N/A |
| PSEG | Chief Operating Officer (COO) | January 2020 to August 2022 | N/A |
| PSEG Power | President and COO | October 2017 to August 2022 | N/A |
| PSE&G | President and COO | October 2006 to October 2017 | N/A |
| PSE&G | Associate Engineer | Joined in 1985 | N/A |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,293,800 | Annual (effective January 1, 2023) | Annualized base salary as Chair of the Board, President, and CEO |
Performance Compensation
Annual Incentive (MICP)
| Metric | Value | Details |
|---|---|---|
| Threshold Payout | $840,970 | Minimum performance level required to earn any payout |
| Target Payout | $1,681,940 | 100% payout level |
| Maximum Payout | $3,363,880 | 200% payout level (cap) |
| Performance Metrics | Corporate EPS, Business Unit Earnings, Business Unit Scorecard, Strategic Goals | Metrics can vary from 0% to 200% of target based on achievement |
| Vesting | N/A | Cash-based incentive; payout based on 2023 performance (finalized February 2024) |
Performance Share Units (PSUs)
| Metric | Value | Details |
|---|---|---|
| Grant Date | Feb 14, 2023 | Date of grant for the PSUs |
| Grant Date Fair Value | $5,600,056 | Total fair value of the PSU grant |
| Weighted Avg Grant Date Stock Price | $67.99 per share | Implied stock price for PSU valuation |
| Target Shares | 82,378 | Number of PSU shares targeted |
| Maximum Shares | 164,756 | 200% of target shares |
| Performance Metrics | Relative TSR (50%), EPS Growth (25%), ESG Priorities (25%) | Metrics evaluated over a three-year period (2023–2025) |
| Vesting Schedule | End of period: Dec 31, 2025; or 1/36th per month if retirement-eligible | Vesting based on achievement of performance metrics |
Long-Term Incentive Plan (LTIP)
| Metric | Value | Details |
|---|---|---|
| Grant Date | Feb 14, 2023 | Combined LTIP grant date |
| Total Grant Date Fair Value | $8,000,097 | Sum of PSUs ($5,600,056 ) and RSUs ($2,400,041 ) |
| RSUs Shares Granted | 39,242 | Number of Restricted Stock Units granted |
| PSUs Performance Metrics | Relative TSR (50%), Relative ROIC (50%) | Evaluated over a three-year period (2023–2025) |
| Vesting - PSUs | Vest at end of period: Dec 31, 2025 | Based on overall performance goals |
| Vesting - RSUs | Graded vesting over three years from grant date | Continued employment or retirement eligibility required |