Vectren 2014 Annual Report Download - page 129

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*$100 invested on 12/31/09 in stock or index, including reinvestment of dividends.
12/31/09 12/31/10 12/30/11 12/31/12 12/31/13 12/31/14
Vectren 100.00 108.67 136.21 139.05 174.94 236.34
S&P 500 100.00 115.06 117.49 136.30 180.44 205.14
2015 Peer Group 100.00 117.39 141.90 145.80 172.46 217.13
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-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14
Vectren S&P 500 2015 Peer Group
Companies that qualify for inclusion in the 2015 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 selection criteria are provided in Vectren's 2015 Proxy Statement in the
Compensation Discussion and Analysis section under the caption "Long-term Incentive Compensation."
At its February 2015 meeting, the Compensation and Benefits Committee reviewed and approved the established
criteria for inclusion in the 2015 Peer Group. In 2014, it was announced that Cleco, Hawaiian Electric Industries,
Integrys Energy and Pepco Holdings were to be acquired in separate transactions and therefore, excluded from
the 2015 peer group per the selection criteria. No company was added to the prior existing peer group.
Following the Committee's February meeting, UIL Holdings (“UIL”) announced plans to be acquired and based on
the selection criteria, UIL was removed from the 2015 peer group at that time, which is reflected in the
performance graph above.
The following 25 companies comprise the 2015 Peer Group under the selection criteria: AGL Resources, ALLETE,
Alliant Energy, Atmos Energy, Avista, Black Hills, CMS Energy, El Paso Electric, Great Plains Energy, IDACORP,
The Laclede Group, New Jersey Resources, Northwest Natural Gas, NorthWestern, OGE Energy, Piedmont
Natural Gas, Pinnacle West Capital, PNM Resources, Portland General Electric, SCANA, South Jersey Industries,
Southwest Gas, TECO Energy, Westar Energy and WGL Holdings. The Peer Group does not include Vectren.
127