Vectren 2013 Annual Report Download - page 136

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*$100 invested on 12/31/08 in stock or index, including reinvestment of dividends.
12/31/08 12/31/09 12/31/10 12/30/11 12/31/12 12/31/13
Vectren 100.00 104.54 113.59 142.39 145.35 182.88
S&P 500 100.00 126.46 145.51 148.59 172.37 228.19
2014 Peer Group - Ne
w
100.00 114.94 135.02 163.16 167.70 195.74
2014 Peer Group - Old 100.00 116.44 138.29 163.88 171.53 198.52
COMPARISON OF 5-YEAR WEIGHTED CUMULATIVE TOTAL RETURN*
AMONG VECTREN CORPORATION, THE S&P 500 INDEX AND THE VECTREN PEER GROUP
$0
$50
$100
$150
$200
$250
Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13
Vectren S&P 500 2014 Peer Group - New 2014 Peer Group - Old
At its February 2014 meeting, the Compensation Committee approved modified selection criteria and finalized the 2014
Peer Group, increasing the number of peers from 13 to 30 primarily from the inclusion of gas only and electric only utilities.
The Compensation Committee with assistance from its independent compensation consultant reviewed approaches to
revise the existing criteria of only including combination gas and electric utilities to create an expanded list of companies
while continuing to maintain alignment with Vectren's attributes and business model.
Companies that qualify for inclusion in the 2014 Peer Group include U.S. domiciled companies that meet certain criteria
involving primary businesses as defined by SIC codes, utility assets, nonutility activities and market capitalization.
Descriptions of the new and prior selection criteria are provided in Vectren's 2014 Proxy Statement in the Compensation
Discussion and Analysis section under the caption "Long-term Incentive Compensation."
The following 30 companies comprise the 2014 Peer Group under the new selection criteria: AGL Resources, ALLETE,
Alliant Energy, Atmos Energy, Avista, Black Hills, Cleco, CMS Energy, El Paso Electric, Great Plains Energy, Hawaiian
Electric Industries, IDACORP, Integrys Energy, The Laclede Group, New Jersey Resources, Northwest Natural Gas,
NorthWestern, OGE Energy, Pepco Holdings, Piedmont Natural Gas, Pinnacle West Capital, PNM Resources, Portland
General Electric, SCANA, South Jersey Industries, Southwest Gas, TECO Energy, UIL Holdings, Westar Energy and
WGL Holdings. The Peer Group does not include Vectren.
134