Stock Ownership for Directors:
Members of the Board of Directors are required to be shareholders of DTE Energy. It is the sense of the Board that substantial stock ownership by directors is important and should be encouraged. Accordingly, approximately 50% of a director's compensation is in the form of equity. Currently, that equity is comprised of phantom shares of DTE Energy common stock, which cannot be disposed of in any manner until the director retires, and stock options.
Stock Ownership for Officers:
Our principles for ownership of stock ensure that the executives and other employees have a vested interest in the financial health, management and success of the Company. We expect most executives and certain other employees to own, within 5 years of their appointment to such position, shares of our stock having a value equal to a multiple of their annual base salary. Common stock, time-based restricted stock, phantom stock, and unvested performance shares (assuming achievement of target levels of performance) are counted toward the fulfillment of this ownership requirement. The following are the requirements for the Named Executive Officers: (i) for Messrs. Earley and Anderson, five times their respective base salary; (ii) for Mr. Meador, four times his base salary; and (iii) for Messrs. Norcia and Peterson, three times their respective base salary. Other executives and employees may be required to hold from one to three times their base salaries as determined by their executive group level within the Company. As of February 2010, 100% of the Named Executive Officers and other required employees met the stock ownership guidelines.