Allete Executive Compensation (FY24)
ALE · Executive and director compensation, fiscal 2022 to 2024
The Allete brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Data as of September 11, 2026Latest filing (8-K): May 15, 2025
11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
$1,500Get the executive brief
242 figures on this page: 232 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)
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 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
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Bethany Owen Chair, President and CEO | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Steven Morris Senior Vice President; former CFO | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Nicole Johnson Vice President; President–ALLETE Clean Energy | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
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 | ◇ | — | ◇ | — | ◇ | ◇ | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Bethany Owen Chair, President and CEO | ◇ | — | ◇ | — | ◇ | ◇ | ◇ | ◇ |
Steven Morris Senior Vice President; former CFO Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
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
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Bethany M. Owen | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Bethany M. Owen | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Bethany M. Owen | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Jeffrey J. Scissons | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Jeffrey J. Scissons | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Jeffrey J. Scissons | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Jeffrey J. Scissons | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Jeffrey J. Scissons | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Jeffrey J. Scissons | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Joshua J. Skelton | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Joshua J. Skelton | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Joshua J. Skelton | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Nicole R. Johnson | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Nicole R. Johnson | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Nicole R. Johnson | PSU | ◇ | — | ◇ | — | ◇ | — | ◇ |
| Steven W. Morris | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Steven W. Morris | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Steven W. Morris | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
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
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Jeffrey Scissons | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Joshua Skelton | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Nicole Johnson | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Steven Morris | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Bethany Owen | RSU | ◇ | ◇ | — | — |
| 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
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Susan K. Nestegard Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Madeleine W. Ludlow | ◇ | ◇ | — | — | — | — | ◇ |
George G. Goldfarb | ◇ | ◇ | — | — | — | — | ◇ |
Douglas C. Neve | ◇ | ◇ | — | — | — | — | ◇ |
Barbara A. Nick | ◇ | ◇ | — | — | — | — | ◇ |
Charlene A. Thomas | ◇ | ◇ | — | — | — | — | ◇ |
Charles R. Matthews | ◇ | ◇ | — | — | — | — | ◇ |
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.
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
- 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.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2024 | May 13, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 14, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 9, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 10, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 11, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 12, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 14, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 8, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 9, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 10, 2016 | = | ◇ | ◇ | ◇ |
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.
Executive Compensation Report — $1,500Written 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.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable 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.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
242 figures on this page: 232 cited to the filing that reported them, 10 calculated from figures it prints.
232 cited to the filing
10 calculated from the filing
Documents cited
- 0000066756-25-000064Item 5.07 Submission of Matters to a Vote of Security Holders.
- 0000066756-25-000043DIRECTOR COMPENSATION · EXECUTIVE COMPENSATION TABLES · Grants of Plan-Based Awards · Outstanding Equity Awards
- 0000066756-24-000061Item 2 - Advisory vote to approve executive compensation.
- 0000066756-23-000032Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000066756-22-000032Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000066756-21-000045Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000066756-20-000052Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000066756-19-000063Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000066756-18-000048Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000066756-17-000060Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000066756-16-000197Item 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
The Allete brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Allete discloses
The companies named in ALE's own disclosed peer group.
Alliant Energy CorporationAvista CorporationBlack Hills CorporationHawaiian Electric Industries, Inc.IDACORP, Inc.MDU Resources Group, Inc.MGE Energy, Inc.NiSource, Inc.NorthWestern CorporationOGE Energy Corp.Otter Tail CorporationPinnacle West Capital CorporationPNM Resources, Inc.Portland General Electric CompanyUnitil Corporation
Terms on this page
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}
}