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Allete Executive Compensation (FY24)

ALE · Executive and director compensation, fiscal 2022 to 2024
Chief executive, fiscal 2024
◇
Bethany Owen
Latest say-on-pay support
=
May 13, 2025
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Data as of November 5, 2026Latest filing (8-K): May 15, 2025
12 filings cited on this page
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248 figures on this page: 238 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
What changed from fiscal 2023 to fiscal 2024
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Bethany Owen: $3,574,742 → $3,720,063 (4.1% higher)
Say-on-pay support: 94.6% → 95.2% (0.6 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Allete's chief executive and what were they paid?
Bethany Owen was paid $3,720,063 in total compensation as Chair, President and CEO for fiscal 2024. Owen's total was 4.1% higher than the $3,574,742 reported for fiscal 2023.
What was Allete's say-on-pay result?
For fiscal 2024, shareholders backed the say-on-pay proposal with 95.2% of votes cast including abstentions in favor at the meeting held May 13, 2025.
Which companies are in Allete's peer group?
Companies named in the disclosed peer group include Ameren Corporation, American Electric Power Company, CenterPoint Energy, Inc., CMS Energy Corporation and Consolidated Edison, Inc., among others. The additional disclosed peer group includes Alliant Energy Corporation, Avista Corporation, Black Hills Corporation, Hawaiian Electric Industries, Inc. and IDACORP, Inc., among others. Companies named in the Compensation Benchmarking Peer Group include Alliant Energy Corporation, Avista Corporation, Black Hills Corporation, Hawaiian Electric Industries, Inc. and IDACORP, Inc., among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Bethany Owen
Chair, President and CEO
◇—◇—◇—◇◇
Steven Morris
Senior Vice President; former CFO
◇◇◇—◇—◇◇
Nicole Johnson
Vice President; President–ALLETE Clean Energy
◇◇◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Bethany Owen
Chair, President and CEO
◇—◇—◇◇◇◇
Steven Morris
Senior Vice President; former CFO
◇—◇—◇◇◇◇
Margaret Thickens
Vice President, Chief Legal Officer, and Corporate Secretary
◇—◇—◇—◇◇
Nicole Johnson
Vice President; President–ALLETE Clean Energy
◇—◇—◇◇◇◇
Joshua Skelton
Vice President; Chief Operating Officer - MP
◇—◇—◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Bethany Owen
Chair, President and CEO
◇—◇—◇◇◇◇
Steven Morris
Senior Vice President; former CFO
◇—◇—◇—◇◇
Nicole Johnson
Vice President; President–ALLETE Clean Energy
◇—◇—◇—◇◇
Joshua Skelton
Vice President; Chief Operating Officer - MP
◇—◇—◇—◇◇
Jeffrey Scissons
Vice President; CFO and Corporate Treasurer
◇◇◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2024
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Bethany M. OwenPSU◇◇◇—◇—◇
Bethany M. OwenRSU◇——◇——◇
Bethany M. OwenPSU◇◇◇—◇—◇
Jeffrey J. ScissonsPSU◇◇◇—◇—◇
Jeffrey J. ScissonsRSU◇——◇——◇
Jeffrey J. ScissonsPSU◇◇◇—◇—◇
Jeffrey J. ScissonsPSU◇◇◇—◇—◇
Jeffrey J. ScissonsPSU◇◇◇—◇—◇
Jeffrey J. ScissonsRSU◇——◇——◇
Joshua J. SkeltonPSU◇◇◇—◇—◇
Joshua J. SkeltonPSU◇◇◇—◇—◇
Joshua J. SkeltonRSU◇——◇——◇
Nicole R. JohnsonRSU◇——◇——◇
Nicole R. JohnsonPSU◇◇◇—◇—◇
Nicole R. JohnsonPSU◇◇◇—◇—◇
Steven W. MorrisPSU◇◇◇—◇—◇
Steven W. MorrisPSU◇◇◇—◇—◇
Steven W. MorrisRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2024 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Bethany OwenPSU◇◇——
RSU◇◇——
Steven MorrisPSU◇◇——
RSU◇◇——
Nicole JohnsonPSU◇◇——
RSU◇◇——
Joshua SkeltonPSU◇◇——
RSU◇◇——
Jeffrey ScissonsRSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2024
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Susan K. Nestegard
Lead independent director
◇◇————◇
Madeleine W. Ludlow
◇◇————◇
George G. Goldfarb
◇◇————◇
Douglas C. Neve
◇◇————◇
Charlene A. Thomas
◇◇————◇
Charles R. Matthews
◇◇————◇
Barbara A. Nick
◇◇————◇
Robert P. Powers
◇◇————◇
James J. Hoolihan
◇◇————◇
Bethany M. Owen served on the board in fiscal 2024 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
  • Ameren Corporation AEE
  • American Electric Power Company AEP
  • CenterPoint Energy, Inc. CNP
  • CMS Energy Corporation CMS
  • Consolidated Edison, Inc. ED
  • Dominion Energy, Inc. D
  • DTE Energy Company DTE
  • Duke Energy Corporation DUK
  • Edison International EIX
  • Entergy Corporation ETR
  • Evergy, Inc. EVRG
  • Eversource Energy ES
  • Exelon Corporation EXC
  • FirstEnergy Corp. FE
  • NextEra Energy, Inc. XIFR
  • PG&E Corporation PCG
  • PPL Corporation PPL
  • Public Service Enterprise Group, Inc. PEG
  • Sempra Energy SRE
  • The Southern Company SO
  • WEC Energy Group, Inc. WEC
  • Xcel Energy Inc. XEL
Additional disclosed peer group
  • Alliant Energy Corporation LNT
  • Avista Corporation AVA
  • Black Hills Corporation BKH
  • Hawaiian Electric Industries, Inc. HE
  • IDACORP, Inc. IDA
  • MDU Resources Group, Inc. MDU
  • MGE Energy, Inc. MGEE
  • NiSource, Inc. NI
  • NorthWestern Corporation NWE
  • OGE Energy Corp. OGE
  • Otter Tail Corporation OTTR
  • Pinnacle West Capital Corporation PNW
  • PNM Resources, Inc. TXNM
  • Portland General Electric Company GE
  • Unitil Corporation UTL
Compensation Benchmarking Peer Group
  • Alliant Energy Corporation LNT
  • Avista Corporation AVA
  • Black Hills Corporation BKH
  • Hawaiian Electric Industries, Inc. HE
  • IDACORP, Inc. IDA
  • MDU Resources Group, Inc. MDU
  • MGE Energy, Inc. MGEE
  • NiSource, Inc. NI
  • NorthWestern Corporation NWE
  • OGE Energy Corp. OGE
  • Otter Tail Corporation OTTR
  • Pinnacle West Capital Corporation PNW
  • PNM Resources, Inc. TXNM
  • Portland General Electric Company GE
  • Unitil Corporation UTL

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2024May 13, 2025=◇◇◇
2023May 14, 2024=◇◇◇
2022May 9, 2023=◇◇◇
2021May 10, 2022=◇◇◇
2020May 11, 2021=◇◇◇
2019May 12, 2020=◇◇◇
2018May 14, 2019=◇◇◇
2017May 8, 2018=◇◇◇
2016May 9, 2017=◇◇◇
2015May 10, 2016=◇◇◇
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What this page does not include

Everything above is a fact Allete disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Allete sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
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Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
248 figures on this page: 238 cited to the filing that reported them, 10 calculated from figures it prints.
238 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000066756-25-000064
    Item 2 - Advisory vote to approve executive compensation.
  2. 0000066756-25-000043
    DIRECTOR COMPENSATION · EXECUTIVE COMPENSATION TABLES · Grants of Plan-Based Awards · Outstanding Equity Awards
  3. 0000066756-24-000061
    Item 2 - Advisory vote to approve executive compensation.
  4. 0000066756-24-000023
    EXECUTIVE COMPENSATION TABLES
  5. 0000066756-23-000032
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000066756-22-000032
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0000066756-21-000045
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000066756-20-000052
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0000066756-19-000063
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000066756-18-000048
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000066756-17-000060
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0000066756-16-000197
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Allete executive compensation, FY2022–FY2024.” https://intel.velarion.ai/comp/ALE (accessed 2026).
Short form: data: Velarion

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12 filings cited on this page
Method: intel.velarion.ai/methodology
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Utilities rankings

Chief executive pay — UtilitiesCEO pay ratio — UtilitiesSay-on-pay support — Utilities

Peers Allete discloses

The companies named in ALE's own disclosed peer group.

Ameren CorporationAmerican Electric Power CompanyCenterPoint Energy, Inc.CMS Energy CorporationConsolidated Edison, Inc.Dominion Energy, Inc.DTE Energy CompanyDuke Energy CorporationEdison InternationalEntergy CorporationEvergy, Inc.Eversource EnergyExelon CorporationFirstEnergy Corp.NextEra Energy, Inc.PG&E CorporationPPL CorporationPublic Service Enterprise Group, Inc.Sempra EnergyThe Southern CompanyWEC Energy Group, Inc.Xcel Energy Inc.Alliant Energy CorporationAvista Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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