Glen Tellock
WEC ENERGY GROUPAbout Glen E. Tellock
Independent director since 2022; age 63 as of January 16, 2025. Former chairman, president and CEO of The Manitowoc Company and former president and CEO of Lakeside Foods; certified public accountant with prior audit manager experience, bringing deep audit oversight, financial reporting, risk management, and operating credentials to WEC’s board . Serves on WEC’s Audit and Oversight Committee and has been designated an “audit committee financial expert” by the board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lakeside Foods Inc. | President & Chief Executive Officer | May 2016 – June 2021 | Led privately held food processing company; senior operating leadership experience |
| The Manitowoc Company | Chairman, President & CEO; CFO; President & CEO | 24-year career | Extensive public company leadership; audit, financial reporting, risk and strategy expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Badger Meter, Inc. | Director | Since 2017 | Not disclosed in WEC proxy |
| Nicolet Bankshares, Inc. | Director | Since May 2023 | Not disclosed in WEC proxy |
| Astec Industries, Inc. | Director | 2006 – July 2023 | Not disclosed in WEC proxy |
Board Governance
- Independence: Board affirmatively determined Tellock is independent .
- Committee assignments: Audit and Oversight Committee member; audit committee financial expert designation .
- Board/Committee activity and engagement:
- Board met 7 times in 2024; executive sessions held for independent directors at all regularly scheduled board meetings; all directors attended >75% of meetings, with average attendance >98.7% .
- Audit and Oversight Committee held 5 meetings in 2024 .
- Overboarding guardrails: WEC guidelines limit directors to four public company boards (including WEC) .
Fixed Compensation
| Year | Cash Retainer (WEC Director) | Committee Chair Fees | Meeting Fees | Notes |
|---|---|---|---|---|
| 2024 | $120,000 (quarterly installments) | Not applicable (Tellock not a chair) | None | Director compensation program increased retainer from $110,000 to $120,000 effective Jan 1, 2024 |
| 2025 | Unchanged from 2024 program (cash retainer remains $120,000) | Not applicable | None | Compensation Committee confirmed 2025 director compensation unchanged |
| Director (2024) | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive ($) | Change in Pension/Deferred Comp ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|---|
| Glen E. Tellock | 120,000 | 160,000 | — | — | — | — | 280,000 |
Performance Compensation
- Structure: Annual equity retainer granted as restricted stock; value fluctuates with WEC’s share price; vesting occurs one year from grant date; no director meeting fees; program aligns director pay with shareholder interests .
| Grant Year | Award Type | Grant Date | Grant-Date Fair Value ($) | Shares Granted/Outstanding | Vesting |
|---|---|---|---|---|---|
| 2024 | Restricted Stock (Annual Equity Retainer) | Jan 2, 2024 | 160,000 | 1,954 restricted shares outstanding as of Dec 31, 2024 | Vests one year from grant (expected Jan 2, 2025) |
| 2025 | Restricted Stock (Annual Equity Retainer) | Not disclosed | Not disclosed | 1,693 restricted shares included in beneficial ownership as of Jan 31, 2025 | Not disclosed |
No performance-based (PSU) director awards or option grants are disclosed for Tellock; director equity awards are purely time-based and intended to align with stockholder interests .
Other Directorships & Interlocks
| Topic | Detail |
|---|---|
| Compensation Committee Interlocks | None in 2024 (no insider participation) |
| WEC ecosystem interlocks | None disclosed involving Tellock; related party transactions policy review noted no transactions requiring disclosure since Jan 1, 2024 |
| Governance advisor independence | FW Cook engaged solely by Compensation Committee; independence confirmed; FW Cook also advises on non-management director compensation |
Expertise & Qualifications
- CPA; prior audit manager; deep audit oversight and financial reporting capabilities .
- Extensive risk management and strategic planning experience from senior leadership roles at public and private companies .
- Corporate governance experience across multiple public boards and numerous non-profit boards .
Equity Ownership
| As-of Date | Total Beneficial Ownership (Shares) | Restricted Shares Included | Options Exercisable ≤60 Days | Shared Voting/Investment Power | Ownership % of Outstanding | Pledging/Hedging |
|---|---|---|---|---|---|---|
| Jan 31, 2025 | 8,189 | 1,693 restricted shares | 0 | 6,496 shares with shared voting/investment power | <1% (none of individuals >1%) | None of directors’ shares are pledged; WEC prohibits hedging/pledging |
- Director stock ownership guidelines: Must hold WEC common stock or deferred stock units equal to 5x annual cash retainer within 5 years of joining the board; for Tellock (joined 2022), the compliance period runs to 2027 .
Governance Assessment
- Board effectiveness signals: Independence; audit committee financial expert designation; strong overall attendance (>98.7% average); structured executive sessions; robust risk and audit oversight framework .
- Alignment and incentives: Majority of director compensation delivered in equity with one-year vesting; no meeting fees; ownership guideline of 5x retainer enhances alignment; no pledging; hedging prohibited .
- Conflicts/related-party exposure: None disclosed for Tellock; WEC reports no related-party transactions since Jan 1, 2024; independence reaffirmed annually via questionnaire process .
- Shareholder confidence indicators: Say-on-pay support of 94.3% in 2024; ongoing engagement covering governance and compensation practices .
- RED FLAGS: None identified—no related-party transactions, no pledging, no overboarding per WEC limits; director compensation program appears standard for regulated utilities and tied to equity value rather than guaranteed pay .