DEF 14A of Alliant Energy Corp, Mar 31, 2026

DEF 14A of Alliant Energy Corp

Filed Mar 31, 2026 · FY20250000352541-26-000025

Open on EDGAR

  1. NOMINEES FOR DIRECTOR

    NOMINEES FOR DIRECTOR

  2. NOMINEES FOR DIRECTOR

    | | Summary: As independent Board Chair, Mr. Allen brings to our Board extensive experience in financial, strategic, and risk management leadership. Mr. Allen served as Chief Financial Officer at Collins Aerospace from 2018 until his retirement in 2020. He served as Senior Vice President and Chief Financial Officer at Rockwell Collins, Inc. in Cedar Rapids, Iowa, leading the company’s finance activities, including financial planning, accounting, treasury, audit, and tax from 2005 to 2018. Mr. Allen previously served in various financial officer positions at Rockwell Collins and its subsidiaries since 2001. Before joining Rockwell Collins, he served in various roles at Rockwell International, including Vice President and Treasurer, Vice President of Financial Planning, and Assistant Controller. Prior to that, he worked as an auditor at Deloitte & Touche and has passed the certified public accountancy examination. Mr. Allen has served on the Board of Tennant Company, a manufacturer of floor cleaning equipment, since 2026, and he served on the Board of Triumph Group, Inc., an aerospace company, from 2023 to 2025. Skills and Qualifications: strategic leadership; financial acumen/literacy; public policy and regulatory; human capital management; risk management; technology systems; environmental and safety. | | Patrick Allen Age: 61 Director since: 2011 Nominated for a term expiring in 2029 Independent Board Chair Committee memberships: • Executive (Chair) | |

  3. NOMINEES FOR DIRECTOR

    | | Summary: Mr. Asthana has extensive background in the energy industry with nearly three decades of leadership experience, bringing deep expertise in electric and gas markets, grid operations, power generation and trading, risk management, retail energy, customer solutions and enterprise strategy. Mr. Asthana was President and Chief Executive Officer of PJM Interconnection from January 2020 to December 2025. PJM Interconnection oversees the largest power grid in North America and one of the largest electricity markets in the world. Prior to that, he held roles of increasing importance with accountabilities related to financial performance, risk, and operations at public and private utility companies. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; customer perspective; public policy and regulatory; human capital management; risk management; technology systems; environmental and safety. | | Manu Asthana Age: 52 Director since: 2026 Nominated for a term expiring in 2029 Committee memberships: • Audit • Operations | |

  4. NOMINEES FOR DIRECTOR

    | | Summary: Mr. Cortina brings to the Board extensive experience in public policy, compliance, corporate governance, environmental and legal matters. Mr. Cortina has been Executive Vice President, Chief Legal and Administrative Officer of Oshkosh Corporation, a leading innovator of mission-critical vehicles and essential equipment, since November 2024. From February 2023 until November 2024, Mr. Cortina served as Executive Vice President, Chief Legal Officer and Secretary. He previously served as Executive Vice President, General Counsel and Secretary from 2016 to 2023. He has held various roles of increasing responsibility since joining Oshkosh Corporation in 2003. Skills and Qualifications: strategic leadership; financial acumen/literacy; public policy and regulatory; human capital management; risk management; environmental and safety. | | Ignacio Cortina Age: 54 Director since: 2023 Nominated for a term expiring in 2029 Committee memberships: • Compensation •Nominating and Governance | |

  5. NOMINEES FOR DIRECTOR

    | | Summary: Mr. Garcia brings to our Board extensive operational leadership in heavy industrial industries. Mr. Garcia was the Chief Executive Officer and a director of Algoma Steel Group Inc., from June 2022 until his retirement in December 2025. Mr. Garcia was President of the Pulp and Paper Division of Domtar Corporation from April 2014 to January 2021. Prior to joining Domtar, Mr. Garcia was the Chief Executive Officer at EVRAZ Highveld Steel & Vanadium Co., in South Africa. Mr. Garcia has more than 25 years of international management experience in paper, steel, and aluminum manufacturing and marketing. Mr. Garcia has been nominated to serve on the Board of Directors of Canfor Corporation, an integrated forest products company with shares traded on the Toronto Stock Exchange. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; customer perspective; public policy and regulatory; human capital management; risk management; technology systems; environmental and safety. | | Michael Garcia Age: 61 Director since: 2020 Nominated for a term expiring in 2029 Committee memberships: • Executive • Nominating and Governance • Operations (Chair) | |

  6. CONTINUING DIRECTORS

    CONTINUING DIRECTORS

  7. CONTINUING DIRECTORS

    | | Summary: Ms. Barton brings extensive knowledge of the utility industry to the Board. Ms. Barton has served as President and Chief Executive Officer of Alliant Energy since January 2024. She has served as Chief Executive Officer of IPL and WPL since February 2023. She previously was President and Chief Operating Officer of Alliant Energy from February 2023 to January 2024. Prior to joining Alliant Energy, Ms. Barton served as Executive Vice President and Chief Operating Officer of American Electric Power Company, Inc. (AEP) from January 2021 to November 2022, Executive Vice President — Utilities of AEP from January 2020 to December 2020, and Executive Vice President — Transmission of AEP from 2011 to 2019. Ms. Barton has served on the Board of Directors of Commercial Metals Company, a manufacturer, recycler and marketer of steel and metal products, since 2020. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; customer perspective; public policy and regulatory; human capital management; risk management; technology systems; environmental and safety. | | Lisa Barton Age: 60 Director since: 2024 Term expires in: 2027 Committee memberships: • Equity Awards | |

  8. CONTINUING DIRECTORS

    | | Summary: Ms. Cox brings to our Board more than three decades of experience in the energy sector leading strategic planning, P&L management, human resources, manufacturing, supply chain and other functional roles for global organizations. Ms. Cox served as Executive President of Operations at John Wood Group PLC (Wood), a global leader in consulting and engineering in energy and materials markets, from October 2020 through July 2022. She also served as Wood’s Chief Executive Officer of Asset Solutions for the Americas from October 2019 to October 2020. Prior to joining Wood, Ms. Cox held multiple executive leadership roles with Schlumberger Limited (SLB), a global technology company that drives energy innovation for a balanced planet, spanning a 28-year career, including President, North America Land Drilling; Vice President, Human Resources; President, North America; President, Asia; and leadership positions overseeing IT, Human Resources, Manufacturing and Supply Chain. Ms. Cox is the founder of Blue Sky Ambition, an executive coaching and leadership training company in 2024. Ms. Cox has served on the Board of Directors of Technip Energies, N.V., an engineering and technology company for the energy transition with shares listed on Euronext Paris, since 2023. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; customer perspective; human capital management; risk management; technology systems; environmental and safety. | | Stephanie Cox Age: 57 Director since: 2023 Term expires in: 2027 Committee memberships: • Compensation (Chair) • Executive • Operations | |

  9. CONTINUING DIRECTORS

    | | Summary: Ms. Falotico brings to our Board more than three decades of experience across a diverse set of areas including business leadership, corporate governance, strategic planning, regulatory banking, marketing and sales, enterprise risk management, global operations and business transformations. Ms. Falotico served as President of Lincoln Motor Company from March 2018 until she retired in December 2022. She also served as Ford Motor Company’s Chief Marketing Officer from March 2018 until January 2021 and was a Group Vice President of Ford Motor Company since 2016. Ms. Falotico was named an Executive Vice President of Ford Motor Credit Company, a leading global automotive financial services provider, in 2012. In 2016 she was named Chief Operating Officer and moved rapidly into the role of Chair and CEO, serving as CEO until 2018 and Chair until 2019. She served as a Director of Ford Motor Credit Company until 2022. Ms. Falotico has served on the Boards of Lineage, Inc., a global temperature-controlled warehouse REIT since 2024, and Lincoln Electric Holdings, Inc., a worldwide broad-line manufacturer of welding, cutting and brazing products since 2025. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; customer perspective; public policy and regulatory; human capital management; risk management; technology systems; environmental and safety. | | Joy Falotico Age: 58 Director since: 2021 Term expires in: 2028 Committee memberships: • Audit (Chair) • Executive • Operations | |

  10. CONTINUING DIRECTORS

    | | Summary: Mr. Newport brings to our Board broad experience and leadership in finance and operations of a manufacturing company. He served as Chief Executive Officer and a Director of AK Steel Holding Corporation from January 2016 until March 2020, when he retired in connection with the acquisition of AK Steel by Cleveland-Cliffs Inc. Prior to that, Mr. Newport served at AK Steel Holding Corporation as Executive Vice President, Finance and Chief Financial Officer since May 2015, as Senior Vice President, Finance and Chief Financial Officer since May 2014, and as Vice President, Finance and Chief Financial Officer since May 2012. Prior to that, Mr. Newport served in a variety of other leadership positions since joining AK Steel in 1985, including Vice President-Business Planning and Development, Controller and Chief Accounting Officer, Assistant Treasurer, Investor Relations, Manager-Financial Planning and Analysis and Product Manager. Mr. Newport has served on the Board of American Financial Group, Inc., an insurance holding company, since 2024. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; customer perspective; public policy and regulatory; human capital management; risk management; technology systems; environmental and safety. | | Roger Newport Age: 61 Director since: 2018 Term expires in: 2027 Committee memberships: • Compensation • Operations | |

  11. CONTINUING DIRECTORS

    | | Summary: Mr. O’Toole brings to our Board his strong experience in revenue strategy, customer strategy, data-driven business and digital commerce. Since 2025, Mr. O’Toole has been Executive Director, Kellogg Executive Fellows Program and Clinical Professor of Marketing at the Kellogg School of Management of Northwestern University. From 2023 to 2025, Mr. O’Toole was Associate Dean, Executive Programs and Clinical Professor at Kellogg. From 2020 to 2023, Mr. O'Toole was Associate Dean, Executive Education and Clinical Professor of Marketing at Kellogg. From 2018 to 2020, Mr. O’Toole was Executive Director, Program for Data Analytics at Kellogg and Clinical Professor of Marketing. He is the principal of O’Toole Associates, LLC, through which he serves as a Senior Advisor with McKinsey & Co., a global management consulting firm. Until his retirement in 2016, Mr. O’Toole was Chief Marketing Officer and Senior Vice President of United Airlines and President, MileagePlus of United Continental Holdings, Inc., a global air carrier. He joined United in 2010 as Chief Marketing Officer and Senior Vice President and held positions with United as Senior Vice President, Marketing and Loyalty and President, MileagePlus, Chief Operating Officer, MileagePlus, and Chief Marketing Officer. Before joining United, Mr. O’Toole held leadership roles for over 13 years with Hyatt Hotels Corporation, including as Chief Marketing Officer and Chief Information Officer. He served on the Boards of Directors of LSC Communications, Inc., a print, print-related services and office products company, until 2021, and Extended Stay America Inc., a hotel owner and operator, until 2021. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; customer perspective; technology systems. | | Thomas O’Toole Age: 68 Director since: 2015 Term expires in: 2028 Committee memberships: • Audit • Nominating and Governance | |

  12. CONTINUING DIRECTORS

    | | Summary: Ms. Raymond brings extensive customer-focused marketing experience to our Board. Ms. Raymond has served as Senior Executive Vice President and Chief Marketing Officer at Kohl’s, a leading retailer, since August 2022. In her current role, she is responsible for Kohl’s marketing and customer service organizations, including the overall marketing strategy, brand and creative, media and personalization, credit and loyalty, customer insights and analytics, corporate communications, and philanthropic efforts. Prior to her current role, she was Executive Vice President Customer Engagement, Analytics & Insights from June 2020 to August 2022 and Senior Vice President, Media and Personalization from October 2017 to June 2020 at Kohl’s. Prior to joining Kohl’s, Ms. Raymond served in marketing, new business, and strategic planning leadership roles at The Walt Disney Company, where she had extensive experience with customer analytics and digital marketing, and Aspen Club Technologies. Skills and Qualifications: strategic leadership; financial acumen/literacy; customer perspective; risk management; technology systems. | | Christie Raymond Age: 56 Director since: 2024 Term expires in: 2028 Committee memberships: • Audit • Compensation | |

  13. CONTINUING DIRECTORS

    | | Summary: Ms. Sanders brings valuable leadership and insights as an experienced leader of our Board. Ms. Sanders has been the President of Carol P. Sanders Consulting LLC since 2015, a business consulting firm serving insurance and technology clients. She served as the Executive Vice President, Chief Financial Officer and Treasurer of Sentry Insurance, a Mutual Company, located in Stevens Point, Wisconsin from 2013 to 2015. Previously, she served as the Executive Vice President and Chief Operating Officer, Senior Vice President, Chief Financial Officer and Treasurer, and Chief Financial Officer of Jewelers Mutual Insurance Company. Before that, Ms. Sanders served as Controller and Assistant Treasurer of Sentry Insurance. She has served on the Board of Directors of RenaissanceRE Holdings Ltd., a global provider of reinsurance and insurance since 2016, and served on the Board of First Business Financial Services, Inc., a Wisconsin-based bank holding company from 2016 to 2024. Skills and Qualifications: strategic leadership; financial acumen/literacy; operations; public policy and regulatory; human capital management; risk management; technology systems. | | Carol Sanders Age: 59 Director since: 2005 Term expires in: 2027 Committee memberships: • Audit • Executive • Nominating and Governance (Chair) | |

  14. DIRECTOR COMPENSATION

    DIRECTOR COMPENSATION

  15. 2025 DIRECTOR COMPENSATION

    2025 DIRECTOR COMPENSATION The following table summarizes the compensation paid to or earned by our non-employee directors during 2025.

  16. 2025 DIRECTOR COMPENSATION

    | Name(1) | Fees Earned or Paid in Cash ($)(2) | Change in Pension Value and Non-qualified Deferred Compensation Earnings ($)(3) | All Other Compensation ($)(4) | Total ($) | | Patrick Allen | $422,500 | $0 | $0 | $422,500 | | Ignacio Cortina | $290,000 | $0 | $0 | $290,000 | | Stephanie Cox | $302,500 | $0 | $0 | $302,500 | | Joy Falotico | $315,000 | $0 | $0 | $315,000 | | Michael Garcia | $310,000 | $0 | $0 | $310,000 | | John Larsen | $183,750 | $120 | $2,500 | $186,370 | | Roger Newport | $290,000 | $0 | $3,500 | $293,500 | | Thomas O'Toole | $295,000 | $1,546 | $0 | $296,546 | | Christie Raymond | $295,000 | $0 | $0 | $295,000 | | Carol Sanders | $328,125 | $2,882 | $500 | $331,507 |

  17. 2025 DIRECTOR COMPENSATION

    (1) Ms. Barton was also an employee of the Company in 2025 and received no additional compensation for her service on our Board of Directors and therefore is not included in this table. Compensation received by Ms. Barton for 2025 is shown in the Summary Compensation Table. Mr. Larsen retired as Executive Chair in May 2025. Mr. Asthana did not serve on the Board in 2025 and is therefore not included in this table. (2) The amounts shown in this column include the following aggregate dollar amounts deferred and the corresponding number of shares of common stock credited in our Alliant Energy Deferred Compensation Plan Company Stock Account by each of the following directors:

  18. 2025 DIRECTOR COMPENSATION

    | Name | Aggregate Dollar Amounts Deferred | Number of Shares of Common Stock Credited | | Ignacio Cortina | $188,500 | 3,064 | | Stephanie Cox | $290,000 | 4,714 | | Joy Falotico | $236,250 | 3,840 | | Michael Garcia | $248,000 | 4,031 | | Roger Newport | $217,500 | 3,536 | | Christie Raymond | $295,000 | 4,795 |

  19. 2025 DIRECTOR COMPENSATION

    (3) The amounts shown in this column represent above-market interest on non-qualified deferred compensation. (4) The amounts in this column include payments made to charities through the Alliant Energy Foundation, Inc. matching gift program. Infrequently, spouses and guests of directors accompany the directors on a corporate aircraft when the aircraft is already going to a specific destination for a business purpose at no aggregate incremental cost to the Company.

  20. DIRECTOR COMPENSATION

    DIRECTOR COMPENSATION

  21. INTRODUCTION

    INTRODUCTION Alliant Energy is entering a period of meaningful growth, anticipating load growth of approximately 50% by 2031, positioning us for industry-leading performance and long-term shareowner value creation. Our strategy to grow at the pace of our customers positions us well for the future while maintaining customer affordability. The Compensation Committee believes it is essential to align leadership incentives with the execution of this next phase of growth. At the same time, the utility industry faces an increasingly competitive environment for experienced leadership and technical talent that are able to successfully execute a high-growth strategy while balancing customer costs. The Compensation Committee considers these factors when designing the Company’s executive compensation program. Emphasizing long-term incentive opportunities for executive officers and key employees ensures that Alliant Energy can attract and retain the talent needed to deliver sustained value creation while maintaining strong alignment with shareowner value.

  22. INTRODUCTION

    | Our named executive officers for 2025 were: | | | 1. | Lisa Barton: President and Chief Executive Officer | | 2. | Robert Durian: Executive Vice President and Chief Financial Officer | | 3. | Raja Sundararajan: Executive Vice President and Chief Strategy Officer | | 4. | Antonio Smyth: Executive Vice President | | 5. | David de Leon: Senior Vice President |

  23. INTRODUCTION

    Mr. Smyth joined the Company in April 2025.

  24. Key Objectives of our Compensation Program

    Key Objectives of our Compensation Program •Pay for Performance: A substantial portion of our executive officers’ compensation is based on achievement of financial and operational performance goals, with long-term equity-based awards delivering a majority of the incentive-based pay •Align with Business Strategy: Performance metrics are closely aligned with the Company’s growth strategy and the interests of the Company’s stakeholders •Retain Talent: Compensation is competitive relative to industry peers and to the general industry to attract and retain talent based on role •Create Long-Term Value: A substantial portion of our executive officers’ compensation is delivered through performance and time-based equity awards that vest over three years •Promote Equity Ownership: Long-term incentive awards settle in stock, which, combined with our share ownership requirement, promotes executive officer ownership of our common stock, directly aligning shareowner and management interests •Minimize Systemic Risk-Taking: a mix of long-term and short-term compensation and using multiple performance criteria to determine awards, with caps on payouts reduces ability and incentives to take excessive risks

  25. Short-Term (Annual) Incentive Pay

    Short-Term (Annual) Incentive Pay Executive officers participate in the Executive Short-Term Incentive Pay (EXSTIP) Plan that provides the opportunity for annual cash payments tied directly to the achievement of key financial goals and operational goals related to the customer experience, environmental targets, and safety. The Compensation Committee sets Company and individual goals guided by our purpose, our values and our strategic plan. The Company goals incorporate financial and operational objectives to drive value for both our shareowners and customers. The Company goals for 2025, their weightings, and our performance compared to those goals are shown below.

  26. Short-Term (Annual) Incentive Pay

    | Goal | Target Percentage of Performance Pool | Target | Actual | Percentage Payment Toward Performance Pool | | Consolidated EPS from Continuing Operations (EPS) | 70% | EPS:(1) Threshold: $3.10 Target: $3.20 Maximum: $3.30 | $3.24 | 98% | | Customer Experience | 6% | Customer Interaction Survey: Threshold: 8.5 Target: 8.7 Maximum: 9.0 | 8.7 | 6% | | | 6% | SAIDI: Threshold: 93.7 Target: 84.3 Maximum: 73.3 | 81.2 | 8% | | | 6% | SAIFl: Threshold: .91 Target: .82 Maximum: .71 | 0.79 | 7% | | Environmental | 6% | Percent of Time Renewable Assets are Available: Threshold: 85% Target: 88% Maximum: 92% | 89.3% | 8% | | Safety | 3% | Lost Time Incident Rate: Threshold: .69 Target: .62 Maximum: .55 | .78 | —% | | | 3% | Percent of Injuries Reported to Manager within 24 Hours: Threshold: 90% Target: 95% Maximum: 100% | 94% | 3% | | TOTAL | 100% | | | 130% |

  27. Short-Term (Annual) Incentive Pay

    (1) 2025 GAAP EPS from consolidated earnings from continuing operations was $3.14. Adjusted EPS from Continuing Operations in 2025 excluded $0.05 per share of charges related to an asset valuation charge at Alliant Energy’s non-utility business, a $0.03 per share charge related to the remeasurement of deferred tax assets, reflecting an increase in estimated state income tax apportionment, and a $0.02 per share charge related to preliminary investments in a development site that will not be utilized due to customer cost advantages at another site. The Compensation Committee approved earnings per share (EPS) as the financial goal to reward earnings growth. The 2025 EPS target was approximately 5% higher than the 2024 EPS target and 2024 performance. This aligns with our strategy and rewards meeting the expectations of our shareowners. Operational goals related to customer experience, environmental targets, and safety reflect our corporate purpose and values. The customer experience goals are linked to our customer-focused strategy and guided by our purpose to offer safe, reliable, and affordable service to our customers. The customer interaction target measures our efforts to create a simple, personalized experience for our customers by soliciting feedback after customer interactions and averaging the feedback responses. Customer reliability is measured by using the System Average Interruption Duration Index (SAIDI), which measures outage duration, and the System Average Interruption Frequency Index (SAIFI), which measures outage frequency. Both of these goals measure our current year reliability compared to our 10-year historical average. The environmental goal rewards the amount of time our renewable generation assets are available for generation, which supports affordability and powering our expected growth with sustainable resources. In alignment with our safety-first culture, annual incentives include a performance metric targeting reductions in lost-time incidents and promoting a culture of continuous improvement. Each performance goal is measured independently of other goals. Company performance compared to the goals was 130% as shown in the chart above. The maximum amount payable for Company performance is capped at 200% of target. Individual performance goals are set to drive an individual’s contribution to our strategic business imperatives. The goals can be both qualitative and quantitative and can vary for each executive officer. The Compensation Committee may use individual performance to modify the amount of an incentive award earned by an executive officer. For 2025, the committee did not modify the awards of any named executive officer based on individual performance, and all payouts to the named executive officers for 2025 were calculated based on achievement of the Company goals shown above. Each officers’ target opportunity under the EXSTIP Plan is approved by the Compensation Committee as a percentage of base salary based on survey data, experience, strategic importance and individual responsibilities. Targets as a percentage of base salary for 2025 are set forth below.

  28. Short-Term (Annual) Incentive Pay

    | Named Executive Officer | EXSTIP Plan Target as a Percentage of 2025 Base Salary | | Lisa Barton | 125% | | Robert Durian | 85% | | Raja Sundararajan | 80% | | Antonio Smyth | 80% | | David de Leon | 75% |

  29. Short-Term (Annual) Incentive Pay

    Amounts earned in 2025 under the EXSTIP Plan are provided in the Non-Equity Incentive Plan Compensation column of the Summary Compensation Table.

  30. Long-Term Equity Awards

    Long-Term Equity Awards We award long-term equity compensation to focus our executive officers on increasing shareowner value by executing our growth strategy, to retain management personnel, to encourage sustained achievement of key metrics, and to align management interests with shareowner interests and customer interests over a multi-year period. In 2025, we granted long-term awards under our 2020 Omnibus Incentive Plan to our named executive officers as shown below.

  31. Long-Term Equity Awards

    | Award Type | Performance Shares (75%) | | | Restricted Stock Units (25%) | | Metric | Total Shareowner Return | Net Income Growth | Renewables | Service-based |

  32. Long-Term Equity Awards

    As shown above, 75% of the target long-term equity awards granted to our named executive officers are performance-based, payable only if minimum threshold goals are met. All outstanding long-term equity awards are settled in shares of our common stock which increases equity ownership by our executives to better align executives’ and shareowners’ interests. Performance shares reward total shareowner return (TSR) relative to the performance of our peer utility companies in the Edison Electric Institute (EEI) Stock Index, absolute net income growth, and the successful execution of renewable generation and energy storage projects. Performance shares are forfeited if threshold results are not achieved during the applicable performance period. In 2025, the target long-term incentive awards were allocated as follows: 35% to performance shares that vest based on relative TSR, 35% to performance shares that vest based on net income growth, 5% to performance shares that vest based on renewable generation and energy storage metrics. Service-based restricted stock units, which represent the remaining 25% of target total long-term incentive awards, vest in a single installment based on continued service over three years. These awards enhance retention of management personnel and align our executive officers’ long-term financial interests to the interest of our shareowners. These long-term equity awards are forfeited if the executive officer voluntarily leaves the Company (other than for retirement) or is terminated for cause during the time-vesting period. In 2023, we granted performance restricted stock units which vest over a three-year performance period based on achievement of pre-established net income and workforce composition metrics. These performance restricted stock units were replaced in 2024 by performance shares. Currently, we do not issue stock options, do not have any outstanding stock options and do not anticipate issuing stock options. Each target payout percentage for long-term incentive grant values is approved by the Compensation Committee. 2025 target long-term incentive grant values as a percentage of base salary are set forth below.

  33. Long-Term Equity Awards

    | Named Executive Officer | 2025 Target Long-Term Equity Grant Value as a Percentage of Base Salary | | Lisa Barton | 460% | | Robert Durian | 230% | | Raja Sundararajan | 220% | | Antonio Smyth | 220% | | David de Leon | 130% |

  34. Long-Term Equity Awards

    The Compensation Committee considers market data, experience, strategic importance, individual responsibilities and the competitiveness of the total compensation package when setting long-term incentive opportunities. The target dollar value of the long-term equity awards is determined prior to the grant date, and we grant the number of target units necessary to approximate that dollar value based on the fair market value of our share price on the grant date. The target units are allocated among the types of awards as set forth above.

  35. Performance Shares

    Performance Shares In 2025, the Compensation Committee granted performance shares with three different performance measures that vest over a three-year period that runs from January 1, 2025 through December 31, 2027. These grants are allocated between performance shares that vest based on pre-established metrics related to relative total shareowner return, net income, and renewable generation and energy storage. Any dividend equivalents credited on performance shares are treated as reinvested but are not payable to the participant unless the performance target is met and vesting is completed. Performance shares have double-trigger acceleration upon a change in control. Upon a change in control, the outstanding awards vest at target and are valued based on the Company’s stock price as of the trading day immediately preceding the change in control date. The awards are paid at the end of the three-year vesting period provided the executive is still employed by the Company or had a qualifying termination event. All performance share payouts are capped at 200% of the total target payout.

  36. Performance Shares - TSR

    Performance Shares - TSR Performance shares based on the total shareowner return metric are intended to reward Company performance relative to our peers in the EEI Stock Index. Vesting of the performance shares granted in 2025 is based on our relative total shareowner return over the three-year performance period that runs from January 1, 2025 through December 31, 2027 as follows:

  37. Performance Shares - TSR

    | Three-Year Total Shareowner Return Relative To EEI Stock Index | Percentage of Target Value Payout | | 90th percentile or greater | 200% | | 80th percentile | 175% | | 70th percentile | 150% | | 60th percentile | 125% | | 50th percentile | 100% | | 25th percentile | 50% | | Below 25th percentile | 0% |

  38. Performance Shares - TSR

    The total shareowner return calculation represents the cumulative return for the three-year performance period reflecting price appreciation and reinvested dividend payments. Performance shares pay at target if our relative total shareowner return over three years is equal to the median performance of a specific peer group selected by the Compensation Committee. Consistent with prior years, the committee selected the EEI Stock Index as the peer group for the 2025 grants of performance shares. We believe the comparison to the EEI Stock Index appropriately assesses our performance relative to other publicly traded utilities with whom we compete for capital. The total shareowner return for the 2023 performance share grant (performance period ended on December 31, 2025) ranked at the 68th percentile relative to the peer group. As a result, our named executive officers earned 145% of the target award for the 2023-2025 performance period. Additional information about the performance share payouts for the 2023-2025 performance period is provided in the 2025 Option Exercises and Stock Vested table. The EEI Stock Index, which we use only to measure relative performance for our performance shares, was composed of the following companies as of December 31, 2025:

  39. Performance Shares - TSR

    | Ameren Corporation | Eversource Energy | Pinnacle West Capital Corporation | | American Electric Power Company, Inc. | Exelon Corporation | Portland General Electric Company | | Avista Corporation | FirstEnergy Corp. | PPL Corporation | | Black Hills Corporation | Hawaiian Electric Industries, Inc. | Public Service Enterprise Group | | CenterPoint Energy, Inc. | IDACORP, Inc. | Sempra Energy | | CMS Energy Corporation | MDU Resources Group Inc. | Southern Company | | Consolidated Edison, Inc. | MGE Energy, Inc. | TXNM Energy, Inc. | | Dominion Energy Inc. | NextEra Energy, Inc. | Unitil Corporation | | DTE Energy Company | NiSource Inc. | WEC Energy Group, Inc. | | Duke Energy Corporation | NorthWestern Corporation | Xcel Energy, Inc. | | Edison International | OGE Energy Corp. | | | Entergy Corporation | Otter Tail Corporation | | | Evergy, Inc. | PG&E Corporation | |

  40. Performance Shares - TSR

    Performance shares granted in 2025 that vest based on relative total shareowner return have a threshold that is in line with peers and a payout that is capped at target in the event total shareowner return is negative.

  41. Performance Shares - Net Income

    Performance Shares - Net Income Performance shares based on the net income metric are intended to reward absolute long-term growth in our profitability. Vesting of the performance shares granted in 2025 is based on achieving a cumulative net income growth target over the three-year performance period as follows:

  42. Performance Shares - Net Income

    | Three-Year Cumulative Consolidated Net Income from Continuing Operations Annualized Growth | Percentage of Target Value Payout | | 7.5% | 200% | | 6.5% | 150% | | 5.5% | 100% | | 4% | 50% | | Below 4% | 0% |

  43. Performance Shares - Net Income

    Vesting at target requires 5.5% compounded annual growth, which is based on the successful and timely execution of our strategic plan. The target is calculated based on achieving a cumulative consolidated net income target over the performance period, excluding certain items as permitted by the 2020 Omnibus Incentive Plan, such as charges or credits for reorganizing and restructuring, discontinued operations, asset write-downs, gains or losses on the disposition of an asset or business, mergers, acquisitions or dispositions and unusual or non-recurring items of gain or loss, in each case, as identified in the Company’s audited financial statements or periodic reports. Performance shares granted in 2025 will vest at target if our cumulative consolidated net income from continuing operations over the performance period totals $2,604.1 million. Performance restricted stock units granted in 2023 (performance period ended on December 31, 2025) had a net income target calculated based on achieving a cumulative consolidated net income from continuing operations over the performance period equated to a compounded annual growth rate of 5.5%, excluding certain items described above as permitted by the 2020 Omnibus Incentive Plan. Cumulative consolidated net income for the performance period ended December 31, 2025 was $2,325.6 million, which represented 5.4% three-year compounded annual growth of consolidated net income from continuing operations. As a result, our named executive officers earned 96% of the target award for the 2023-2025 performance period. Additional information about the payout of the performance restricted stock units for the 2023-2025 performance period is provided in the 2025 Option Exercises and Stock Vested table.

  44. Performance Shares - Renewable Generation and Energy Storage

    Performance Shares - Renewable Generation and Energy Storage Performance shares based on the renewable generation and energy storage metric are intended to reward successful execution of renewable generation and energy storage projects, which are important to our growth strategy, over the performance period. Vesting of the performance shares granted in 2025 is based on achieving a specified level of installed capacity of renewable generation and energy storage projects by the end of the three-year performance period.

  45. Performance Shares - Renewable Generation and Energy Storage

    | Amount of Renewable Generation and Energy Storage Added | Percentage of Target Value Payout | | 1,000 MW | 200% | | 800 MW | 100% | | 600 MW | 50% | | Below 600 MW | 0% |

  46. Performance Shares - Renewable Generation and Energy Storage

    These targets reward successful growth of renewable generation and energy storage to support our growth strategy, customer affordability and powering our expected growth with sustainable resources.

  47. Performance Shares - Workforce Composition

    Performance Shares - Workforce Composition Performance restricted stock units representing 5% of targeted long-term awards granted in 2023 (performance period ended on December 31, 2025) had targets based on achieving a specified level of workforce composition of women and people of color at the end of the three-year performance period. Based on the percent of women and people of color in our workforce for the period ended December 31, 2025, our named executive officers earned 100% of the target award for the 2023-2025 performance period. Additional information about the payout of the performance restricted stock units for the 2023-2025 performance period is provided in the 2025 Option Exercises and Stock Vested table. Performance shares granted in 2025 did not contain a workforce composition metric. Instead, five percent of such performance shares are based on achieving renewable generation and energy storage plans during the performance period as discussed above.

  48. Restricted Stock Units

    Restricted Stock Units In 2025, the Compensation Committee granted service-based restricted stock units to our named executive officers. Service-based restricted stock units are time-vesting awards for which forfeiture restrictions lapse in a single installment after three years, subject to continuous employment. Any dividend equivalents credited on restricted stock units are treated as reinvested but are not payable to the participant unless the service requirement is met and vesting is completed. Restricted stock units have double-trigger acceleration upon a change in control. Upon a change in control, the outstanding awards vest at target and are valued based on the Company’s stock price as of the trading day immediately preceding the change in control date. The awards are paid at the end of the three-year vesting period provided the executive is still employed by the Company or had a qualifying termination event. Additional information about the restricted stock unit payouts for the 2023-2025 vesting period is provided in the 2025 Option Exercises and Stock Vested table.

  49. Retirement Benefits

    | Benefit | Description | | Alliant Energy Deferred Compensation Plan (AEDCP)(1) | Enables participants to defer up to 80% of base salary and annual incentive pay on a pre-tax basis and to receive earnings or incur losses on the deferrals until the date of distribution. The shares of Alliant Energy common stock identified as obligations under the AEDCP are held in a rabbi trust. | | Alliant Energy Cash Balance Pension Plan(2) | Offers flexible payment options and steady growth of retirement funds. The Cash Balance Pension Plan was frozen for participants effective August 2, 2008. Employees hired after December 25, 2005 are not eligible to participate. | | Alliant Energy Corporation 401(k) Savings Plan | Provides for a match of $0.50 on each dollar for the first 8% of compensation contributed to the 401(k) Savings Plan account by the participants up to the IRS maximum. In addition, we contribute a percentage of participants’ salaries to their 401(k) accounts. The amount of the Company contribution ranges from 4% to 6% of a participant’s salary, depending on the participant’s age and number of years of service at the Company. | | Alliant Energy Excess Retirement Plan(2) | Provides the benefit that the participants would have earned under the Cash Balance Pension Plan and the 401(k) Savings Plan but for statutory limitations on employer-provided benefits imposed on those tax-qualified plans and accruals earned on their deferrals into the AEDCP. |

  50. Other Benefits

    Other Benefits We provide limited perquisites to our named executive officers. Our named executive officers are eligible for executive physicals, reimbursement of financial planning expenses and long-term disability insurance which are in excess of the benefits provided to our other non-executive employees. The committee recognizes that the duties of the Chief Executive Officer involve significant travel and that permitting limited personal use of third-party charter aircraft allows her to continue to perform her duties in a safe, secure environment and promotes safe and effective use of her time. For 2025, the committee approved personal use of such aircraft for the Chief Executive Officer and her family subject to certain conditions. Amounts are included in the Summary Compensation Table. Mr. Smyth was provided with a cash relocation bonus of $250,000 to cover any expenses incurred to relocate to Madison, Wisconsin, and a cash signing bonus of $220,000. Both cash bonuses are subject to repayment terms in the event Mr. Smyth terminates his employment within 24 months of the payment date. In addition, the Compensation Committee approved a full year non-prorated short-term incentive opportunity and equity awards to Mr. Smyth to replace compensation forfeited upon departure from his prior employer. These awards generally aligned in vesting and performance schedules to the awards being forfeited and were intended to make him whole for the loss of unvested awards, thereby facilitating a successful recruitment. The awards are subject to vesting conditions that align with our long-term incentive program and shareowner interests. The amount of these awards is provided in a footnote to the Summary Compensation Table.

  51. Key Executive Employment and Severance Agreements

    Key Executive Employment and Severance Agreements We currently have in effect Key Executive Employment and Severance Agreements (KEESAs) with our executive officers, including our named executive officers, and certain key employees, which provide for double-trigger severance benefits under certain circumstances following a change in control. Benefits under the KEESAs are paid only if: (1) a change in control occurs and (2) a qualifying termination of employment occurs within 180 days prior to the change in control or two years after the change in control. A qualifying termination occurs if the executive officer’s employment terminates as a result of (a) termination by the Company, other than by reason of death or disability or for cause, or (b) termination by the executive officer for good reason. This double-trigger mechanism ensures that only those executive officers adversely affected by a change in control will receive benefits under the KEESAs. The KEESAs provide a cash termination payment of 2.99 times for the CEO, and two times for the other executive officers, the sum of the executive officer’s (i) annual base salary and (ii) target annual incentive pay for the year in which the termination occurs. The KEESAs also provide that, consistent with the terms of outstanding equity award agreements, any change in control payments under outstanding equity awards will be paid pursuant to the terms of the equity plan and the agreements under which the awards were granted. We do not offer severance arrangements with executive officers that provide a multiplier equal to or greater than three. The KEESAs are generally designed to avoid the adverse effects of Section 280G of the tax code. Each KEESA provides that if any portion of the benefits under the KEESA or under any other agreement would constitute an excess parachute payment for purposes of the tax code, the executive officer may receive the greater, on an after-tax basis, of either a payment $1 less than the maximum amount he or she may receive without becoming subject to the 20% excise tax or the full payment subject to applicable excise taxes, for which the executive officer would be personally responsible. None of the KEESAs have Section 280G tax gross-up provisions. We believe that the level of the benefits provided by the KEESAs to the executive officers reflects the appropriate amount of compensation necessary for our executive officers to consider our shareowners’ interests without potential influence of their personal interests. We believe the security afforded by the KEESAs will help the executives to remain focused on business continuity and will reduce the distraction of the executives’ reasonable concerns regarding future employment during the uncertainty of a proposed change in control transaction. Additional information about the KEESAs is provided in the 2025 Potential Payments Upon Termination or Change in Control section.

  52. Executive Severance Plan

    Executive Severance Plan We also maintain the executive officer severance benefit plan, which compensates an executive officer in the event that his or her position is eliminated or significantly altered. As with our KEESA benefit, our executive officer severance benefit plan is designed to enable executives to remain focused on our business without undue personal concerns over job security. The plan provides for: •Severance pay equal to one year’s annual base salary •Up to 18 months of COBRA coverage or participation in our subsidized retiree medical insurance program if eligible (six months of which are paid by us) •Outplacement services and/or tuition reimbursement of up to $10,000 •Access to our employee assistance program Eligibility for benefits under this plan is conditioned upon an executive executing a severance agreement and release form. All severance packages of executive officers are approved by the Compensation Committee. We believe our executive severance plan is consistent with industry-wide standards.

  53. Employment Agreements and Separation Arrangements

    Employment Agreements and Separation Arrangements We do not have any other employment agreements or separation arrangements with our executive officers.

  54. Process For Setting Executive Compensation

    The peer group companies used for utility industry data were selected by Pay Governance and include 20 companies that in the aggregate are viewed as comparable to Alliant Energy in terms of business and scale. Alliant Energy’s financial scope is positioned near the middle of this peer group. The peer group companies used for utility industry data for 2025 were:

  55. Policies

    Policies •Clawback policy and provisions that allow the Company to recoup incentive awards under certain circumstances •Stock ownership requirements for executive officers •Double trigger change in control provisions in severance agreements and long-term equity awards; no tax gross up provisions •Maximum multiplier for change in control cash severance benefit no greater than 2.99 •No hedging or pledging of Company stock

  56. SUMMARY COMPENSATION TABLE

    SUMMARY COMPENSATION TABLE The table below summarizes the compensation paid to or earned by our named executive officers for 2025, and, where applicable, 2024 and 2023.

  57. SUMMARY COMPENSATION TABLE

    | Name and Principal Position | Year | Salary ($)(1) | Bonus ($)(2) | Stock Awards ($)(3) | Option Awards ($) | Non-Equity Incentive Plan Compensation ($)(1)(4) | Change in Pension Value and Non-qualified Deferred Compensation Earnings ($)(5) | All Other Compensation ($)(6) | Total ($) | | Lisa Barton: President and Chief Executive Officer | 2025 | $1,136,937 | $0 | $5,471,255 | $0 | $1,835,563 | $111 | $555,207 | $8,999,073 | | | 2024 | $1,083,270 | $0 | $4,437,940 | $0 | $1,101,875 | $24 | $348,626 | $6,971,735 | | | 2023 | $698,385 | $1,700,000 | $2,545,901 | $0 | $638,138 | $4 | $130,299 | $5,712,727 | | Robert Durian: Executive Vice President and Chief Financial Officer | 2025 | $702,693 | $0 | $1,680,516 | $0 | $770,951 | $13,726 | $254,020 | $3,421,906 | | | 2024 | $655,001 | $0 | $1,469,465 | $0 | $426,400 | $7,860 | $225,595 | $2,784,321 | | | 2023 | $645,385 | $0 | $1,521,461 | $0 | $473,200 | $22,608 | $196,598 | $2,859,252 | | Raja Sundararajan: Executive Vice President and Chief Strategy Officer | 2025 | $652,500 | $0 | $1,492,574 | $0 | $673,600 | $0 | $410,633 | $3,229,307 | | | 2024 | $604,616 | $0 | $1,002,623 | $0 | $369,000 | $0 | $137,701 | $2,113,940 | | | 2023 | $334,616 | $0 | $1,036,042 | $0 | $409,500 | $0 | $65,900 | $1,846,058 | | Antonio Smyth: Executive Vice President(7) | 2025 | $471,366 | $220,000 | $2,999,569 | $0 | $660,400 | $0 | $360,144 | $4,711,479 | | David de Leon: Senior Vice President | 2025 | $481,847 | $0 | $651,289 | $0 | $467,326 | $12,000 | $108,601 | $1,721,063 | | | 2024 | $460,212 | $0 | $545,784 | $0 | $266,910 | $6,000 | $96,170 | $1,375,076 | | | 2023 | $438,846 | $0 | $470,068 | $0 | $260,260 | $24,000 | $84,305 | $1,277,479 |

  58. SUMMARY COMPENSATION TABLE

    (1) The amounts shown in this column include any amounts deferred by the named executive officers under the Alliant Energy Deferred Compensation Plan. See 2025 Non-qualified Deferred Compensation. (2) In 2023, Ms. Barton was provided with a cash signing bonus of $1.7 million when she was appointed President and COO of Alliant Energy and CEO of IPL and WPL. This bonus was provided in consideration of relocation costs, any foregone compensation from her previous employer, and was important to our successful recruitment of Ms. Barton in a competitive market for top talent in our industry. The signing bonus is subject to repayment terms in the event that Ms. Barton terminates her employment within three years of joining the Company. In 2025, Mr. Smyth was provided with a cash signing bonus of $220,000 when he was appointed Executive Vice President. The signing bonus is subject to repayment terms in the event that Mr. Smyth terminates his employment within two years of joining the Company. (3) The amounts in this column reflect the aggregate grant date fair value of performance shares, performance restricted stock units and restricted stock units granted pursuant to our 2020 Omnibus Incentive Plan, computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 18, or FASB ASC Topic 718. A discussion of the assumptions used in calculating the award values may be found in Note 12(b) to our 2025 audited financial statements contained in our Annual Report on Form 10-K. For the performance shares that vest based on relative total shareowner return, the grant date fair value is based on the probable outcome of the performance conditions, consistent with the estimate of aggregate compensation cost to be recognized over the three-year performance period determined as of the grant date under FASB ASC Topic 718, excluding the effect of estimated forfeitures. The following represents the breakdown of the 2025 grant date fair values of performance shares that vest based on relative total shareowner return at target and at maximum, respectively, for each named executive officer:

  59. SUMMARY COMPENSATION TABLE

    | Name | Grant Date Fair Value of Performance Shares (Target) | Grant Date Fair Value of Performance Shares (Maximum) | | Lisa Barton | $2,064,162 | $4,128,324 | | Robert Durian | $634,023 | $1,268,046 | | Raja Sundararajan | $563,098 | $1,126,196 | | Antonio Smyth | $1,131,734 | $2,263,468 | | David de Leon | $245,706 | $491,412 |

  60. SUMMARY COMPENSATION TABLE

    The following represents the breakdown of the 2025 grant date fair value of performance shares that vest based on cumulative consolidated net income at target and at maximum, respectively, for each named executive officer:

  61. SUMMARY COMPENSATION TABLE

    | Name | Grant Date Fair Value of Performance Shares (Target) | Grant Date Fair Value of Performance Shares (Maximum) | | Lisa Barton | $1,834,612 | $3,669,224 | | Robert Durian | $563,515 | $1,127,030 | | Raja Sundararajan | $500,478 | $1,000,956 | | Antonio Smyth | $1,198,859 | $2,397,718 | | David de Leon | $218,381 | $436,762 |

  62. SUMMARY COMPENSATION TABLE

    The following represents the breakdown of the 2025 grant date fair value of performance shares that vest based on renewables at target and at maximum, respectively, for each named executive officer:

  63. SUMMARY COMPENSATION TABLE

    | Name | Grant Date Fair Value of Performance Shares (Target) | Grant Date Fair Value of Performance Shares (Maximum) | | Lisa Barton | $262,070 | $524,140 | | Robert Durian | $80,476 | $160,952 | | Raja Sundararajan | $71,479 | $142,958 | | Antonio Smyth | $69,793 | $139,586 | | David de Leon | $31,180 | $62,360 |

  64. SUMMARY COMPENSATION TABLE

    (4) The 2025 amounts in this column reflect cash amounts for short-term incentive pay received by the named executive officers with respect to services performed in 2025 that were paid in 2026. Mr.Smyth was provided with a full year short-term incentive payment, despite being hired in April, to facilitate successful recruitment efforts. (5) The 2025 amounts in this column reflect: (a) the actuarial increase in the present value of named executive officers’ benefits under pension plans in which they participate, determined using the assumptions and methods set forth in footnote (3) to the 2025 Pension Benefits table, and (b) amounts representing above market interest on non-qualified deferred compensation. The following represents the breakdown for 2025 for each of the change in pension value and the above market interest on non-qualified deferred compensation, respectively, for each named executive officer:

  65. SUMMARY COMPENSATION TABLE

    | Name | Change in Pension Value | Above Market Non-qualified Deferred Compensation Earnings | | Lisa Barton | $0 | $111 | | Robert Durian | $12,000 | $1,726 | | Raja Sundararajan | $0 | $0 | | Antonio Smyth | $0 | $0 | | David de Leon | $12,000 | $0 |

  66. SUMMARY COMPENSATION TABLE

    The changes in the actuarial present values of the named executive officers’ pension benefits do not constitute cash payments to the named executive officers. (6) The following table provides details for the amounts reported under the All Other Compensation column for 2025.

  67. SUMMARY COMPENSATION TABLE

    | Name | Perquisites and Other Personal Benefits(a) | Registrant Contributions to Defined Contribution Plans(b) | Life Insurance Premiums | Dividends(c) | Other Payments(d) | | Lisa Barton | $37,661 | $73,738 | $11,484 | $432,324 | $0 | | Robert Durian | $0 | $69,769 | $5,086 | $179,165 | $0 | | Raja Sundararajan | $13,695 | $63,827 | $2,603 | $121,549 | $208,959 | | Antonio Smyth | $14,709 | $17,585 | $1,438 | $76,412 | $250,000 | | David de Leon | $0 | $40,509 | $5,273 | $62,819 | $0 |

  68. SUMMARY COMPENSATION TABLE

    (a) Ms. Barton received perquisites and other personal benefits comprised of personal air travel, an annual physical exam, financial planning services, and executive long-term disability insurance. Mr. Sundararajan received perquisites and other personal benefits comprised of an annual physical exam, financial planning services, and executive long-term disability insurance. Mr. Smyth received perquisites and other personal benefits comprised of an annual physical exam, financial planning services, and executive long-term disability insurance, and health insurance opt-out payments. None of the other named executive officers received perquisites and other personal benefits in the aggregate amount of $10,000 or more in 2025. (b) Matching contributions to the Alliant Energy Corporation 401(k) Savings Plan, employer contributions to the Alliant Energy Deferred Compensation Plan, employer contributions based on age and service to the 401(k) Savings Plan accounts and employer contributions to the Alliant Energy Excess Retirement Plan. (c) Dividends and dividend equivalents earned in 2025 on unvested performance shares, performance restricted stock units and restricted stock units are reinvested and paid only at the time performance and/or vesting conditions are satisfied. (d) Mr. Sundararajan received $141,907 of relocation expense, and a tax reimbursement of $67,052 related to relocation expense. Mr. Smyth received $250,000 related to relocation expenses. Relocation payments are subject to repayment terms in the event the executive’s employment is terminated within two years of receiving the payment. (7) Mr. Smyth was not a named executive officer in 2023 or 2024.

  69. 2025 CEO Pay Ratio

    2025 CEO Pay Ratio As required by SEC rules, we are providing the following information based on reasonable estimates. For 2025, the median of the annual total compensation of all employees (other than CEO) of the Company was $177,645. The annual total compensation of Alliant Energy’s CEO, as reported in the Summary Compensation Table for 2025 above, was $8,999,073. The ratio of the annual total compensation of Alliant Energy’s CEO to the median of the annual total compensation of all employees for 2025 was 51 to 1. As permitted by SEC rules, the median employee for 2025 is the same employee identified in 2023 because there have not been changes to our employee population or employee compensation arrangements in 2025 that we reasonably believe would result in a significant change to this pay ratio disclosure. To identify the median employee from our employee population in 2023, we compared the amount of salary and wages of our employees as reflected in our payroll records as reported to the IRS on Form W-2 for 2023. We used December 31, 2023 as the determination date. We did not consider annual equity awards in determining the median employee as such awards are not widely distributed to our employee population. We did not make any cost-of-living adjustments. We annualized the compensation of employees who were hired in 2023. Once we identified our median employee, we calculated that employee’s compensation for 2025 as though that compensation were being calculated for purposes of the Summary Compensation Table. We compared that compensation total with the 2025 compensation of the CEOs as described above.

  70. 2025 GRANTS OF PLAN-BASED AWARDS

    2025 GRANTS OF PLAN-BASED AWARDS The following table sets forth information regarding all plan-based awards that we granted to our named executive officers in 2025.

  71. 2025 GRANTS OF PLAN-BASED AWARDS

    | Name | Grant Date | Estimated Possible Payouts Under Non-Equity Incentive Plan Awards(1) | | | Estimated Future Payouts Under Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | Grant Date Fair Value of Stock Awards ($) | | | | Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#) | | | | Lisa Barton | 2/20/2025(2) | | | | 14,887 | 29,773 | 59,546 | | $2,064,162 | | | 2/20/2025(3) | | | | 14,887 | 29,773 | 59,546 | | $1,834,612 | | | 2/20/2025(4) | | | | 2,127 | 4,253 | 8,506 | | $262,070 | | | 2/20/2025(5) | | | | | | | 21,266 | $1,310,411 | | | | $712,188 | $1,424,375 | $2,848,750 | | | | | | | Robert Durian | 2/20/2025(2) | | | | 4,573 | 9,145 | 18,290 | | $634,023 | | | 2/20/2025(3) | | | | 4,573 | 9,145 | 18,290 | | $563,515 | | | 2/20/2025(4) | | | | 653 | 1,306 | 2,612 | | $80,476 | | | 2/20/2025(5) | | | | | | | 6,532 | $402,502 | | | | $297,500 | $595,000 | $1,190,000 | | | | | | | Raja Sundararajan | 2/20/2025(2) | | | | 4,061 | 8,122 | 16,244 | | $563,098 | | | 2/20/2025(3) | | | | 4,061 | 8,122 | 16,244 | | $500,478 | | | 2/20/2025(4) | | | | 580 | 1,160 | 2,320 | | $71,479 | | | 2/20/2025(5) | | | | | | | 5,802 | $357,519 | | | | $260,000 | $520,000 | $1,040,000 | | | | | | | Antonio Smyth | 4/15/2025(2) | | | | 3,969 | 7,937 | 15,874 | | $550,272 | | | 4/15/2025(3) | | | | 3,969 | 7,937 | 15,874 | | $488,919 | | | 4/15/2025(4) | | | | 567 | 1,133 | 2,266 | | $69,793 | | | 4/15/2025(5) | | | | | | | 5,669 | $349,210 | | | | $254,000 | $508,000 | $1,016,000 | | | | | | | | 4/15/2025(2) | | | | 3,125 | 6,250 | 12,500 | | $287,750 | | | 4/15/2025(3) | | | | 3,125 | 6,250 | 12,500 | | $385,000 | | | 4/15/2025(5) | | | | | | | 1,461 | $89,998 | | | 4/15/2025(2) | | | | 2,638 | 5,275 | 10,550 | | $293,712 | | | 4/15/2025(3) | | | | 2,638 | 5,275 | 10,550 | | $324,940 | | | 4/15/2025(5) | | | | | | | 2,597 | $159,975 | | David de Leon | 2/20/2025(2) | | | | 1,772 | 3,544 | 7,088 | | $245,706 | | | 2/20/2025(3) | | | | 1,772 | 3,544 | 7,088 | | $218,381 | | | 2/20/2025(4) | | | | 253 | 506 | 1,012 | | $31,180 | | | 2/20/2025(5) | | | | | | | 2,532 | $156,022 | | | | $180,000 | $360,000 | $720,000 | | | | | |

  72. 2025 GRANTS OF PLAN-BASED AWARDS

    (1) The amounts shown represent the threshold, target and maximum awards that could have been earned under our EXSTIP Plan for 2025 as described more fully under Compensation Discussion and Analysis — How We Pay Named Executive Officers — Short-Term (Annual) Incentive Pay. Amounts shown in the threshold column reflect the minimum amount payable (50% of target) if the performance threshold is met for all performance metrics. If the minimum performance level for any metric is not achieved, no amount is paid with respect to that metric. The maximum payment level was 200% of the target amount. Payments earned for 2025 are shown in the Non-Equity Incentive Plan Compensation column of the Summary Compensation Table. (2) The amounts shown represent the threshold, target and maximum amounts of performance shares (Total Shareowner Return) that were awarded in 2025 to the named executive officers under our 2020 Omnibus Incentive Plan as described more fully under Compensation Discussion and Analysis — How We Pay Named Executive Officers — Long-Term Equity Awards. The threshold amount is shown at 50% of the target amount. The maximum amount is 200% of the target amount. For the performance shares, the grant date fair value is based on the probable outcome of the performance conditions, consistent with the estimate of aggregate compensation cost to be recognized over the performance period determined as of the grant date pursuant to FASB ASC Topic 718, excluding the effect of estimated forfeitures. For the performance shares granted in 2025, the grant date fair value, as determined by FASB ASC Topic 718, is $69.33. The performance shares granted to Mr. Smyth included three tranches vesting in 2025, 2026, and 2027 and the grant date fair values, as determined by FASB ASC Topic 718, are $55.68, $46.04 and $69.33, respectively. Performance shares granted in 2025 accumulate dividend equivalents on the same basis as shares of our common stock, but dividends are not paid until performance targets and vesting requirements are met. (3) The amounts shown represent the threshold, target and maximum amounts of performance shares (Net Income) that were awarded in 2025 to the named executive officers under our 2020 Omnibus Incentive Plan as described more fully under Compensation Discussion and Analysis — How We Pay Named Executive Officers — Long-Term Equity Awards. The threshold amount is shown at 50% of the target amount. The maximum amount is 200% of the target amount. For the performance shares, the grant date fair value, as determined by the closing price of our common stock on the grant date, is $61.62 for the grants on February 20, 2025 and $61.60 for the grants on April 15, 2025. Performance shares granted in 2025 accumulate dividend equivalents on the same basis as shares of our common stock, but dividends are not paid until performance targets and vesting requirements are met. (4) The amounts shown represent the threshold, target and maximum amounts of performance shares (Renewables) that were awarded in 2025 to the named executive officers under our 2020 Omnibus Incentive Plan as described more fully under Compensation Discussion and Analysis — How We Pay Named Executive Officers — Long-Term Equity Awards. The threshold amount is shown at 50% of the target amount. The maximum amount is 200% of the target amount. For the performance shares, the grant date fair value, as determined by the closing price of our common stock on the grant date, is $61.62 for the grants on February 20, 2025 and $61.60 for the grants on April 15, 2025. Performance shares granted in 2025 accumulate dividend equivalents on the same basis as shares of our common stock, but dividends are not paid until performance targets and vesting requirements are met. (5) The amounts shown represent the number of restricted stock units that were awarded in 2025 to the named executive officers under our 2020 Omnibus Incentive Plan as described more fully under Compensation Discussion and Analysis — How We Pay Named Executive Officers — Long-Term Equity Awards. For the restricted stock units, the grant date fair value, as determined by the closing price of our common stock on the grant date, is $61.62 for the grants on February 20, 2025 and $61.60 for the grants on April 15, 2025. Restricted stock units granted in 2025 accumulate dividend equivalents on the same basis as shares of our common stock, but dividends are not paid until the restricted stock units are fully vested.

  73. 2025 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

    2025 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END The following table sets forth information on outstanding unvested equity awards held by our named executive officers on December 31, 2025. No stock options are outstanding.

  74. 2025 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

    | | Stock Awards | | | | | Name | Number of Shares or Units of Stock That Have Not Vested (#)(1) | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(1) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(1) | | Lisa Barton | | | 69,134 | $4,494,401(2) | | | | | 60,958 | $3,962,880(3) | | | | | 69,134 | $4,494,401(4) | | | | | 60,958 | $3,962,880(5) | | | | | 9,876 | $642,039(6) | | | | | 8,708 | $566,107(7) | | | 24,690 | $1,605,097 | | (8) | | | 21,770 | $1,415,268 | | (9) | | Robert Durian | | | 22,892 | $1,488,209(2) | | | | | 18,724 | $1,217,247(3) | | | | | 22,892 | $1,488,209(4) | | | | | 18,724 | $1,217,247(5) | | | | | 3,269 | $212,518(6) | | | | | 2,674 | $173,837(7) | | | 8,175 | $531,457 | | (8) | | | 6,687 | $434,722 | | (9) | | Raja Sundararajan | | | 15,618 | $1,015,326(2) | | | | | 16,629 | $1,081,051(3) | | | | | 15,618 | $1,015,326(4) | | | | | 16,629 | $1,081,051(5) | | | | | 2,232 | $145,102(6) | | | | | 2,375 | $154,399(7) | | | 5,578 | $362,626 | | (8) | | | 5,940 | $386,159 | | (9) | | Antonio Smyth | | | 12,796 | $831,868(2) | | | | | 16,250 | $1,056,413(3) | | | | | 12,796 | $831,868(4) | | | | | 16,250 | $1,056,413(5) | | | | | 2,320 | $150,823(7) | | | 1,496 | $97,255 | | (8) | | | 5,803 | $377,253 | | (9) | | | 2,659 | $172,862 | | (10) | | David de Leon | | | 8,438 | $548,554(2) | | | | | 7,256 | $471,713(3) | | | | | 8,438 | $548,554(4) | | | | | 7,256 | $471,713(5) | | | | | 1,205 | $78,337(6) | | | | | 1,036 | $67,350(7) | | | 3,014 | $195,940 | | (8) | | | 2,592 | $168,506 | | (9) |

  75. 2025 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

    (1) The share or unit values in the table include credited dividend equivalents, which will be paid only if the vesting criterion is met and the underlying award is paid out. The dollar values in the table are calculated by using the closing price of our common stock of $65.01 on December 31, 2025. (2) Performance shares (Total Shareowner Return) granted on February 15, 2024 and May 7, 2024, except those granted to Mr. Smyth on April 15, 2025. Vesting occurs if the performance criterion is met at the end of the performance period ending December 31, 2026. The values in the table assume maximum level performance. (3) Performance shares (Total Shareowner Return) granted on February 20, 2025 and April 15, 2025. Vesting occurs if the performance criterion is met at the end of the performance period ending December 31, 2027. The values in the table assume maximum level performance. (4) Performance shares (Net Income) granted on February 15, 2024 and May 7, 2024 except those granted to Mr. Smyth on April 15, 2025. Vesting occurs if the performance criterion is met at the end of the performance period ending December 31, 2026. The values in the table assume maximum level performance. (5) Performance shares (Net Income) granted on February 20, 2025 and April 15, 2025. Vesting occurs if the performance criterion is met at the end of the performance period ending December 31, 2027. The values in the table assume maximum level performance. (6) Performance shares (Workforce Composition) granted on February 15, 2024 and May 7, 2024. Vesting occurs if the performance criterion is met at the end of the performance period ending December 31, 2026. The values in the table assume maximum level performance. (7) Performance shares (Environmental) granted on February 20, 2025 and April 15, 2025. Vesting occurs if the performance criterion is met at the end of the performance period ending December 31, 2027. The values in the table assume maximum level performance. (8) Restricted stock units granted on February 15, 2024 and May 7, 2024, except those granted to Mr. Smyth on April 15, 2025. Vesting occurs based on continuous service through December 31, 2026. (9) Restricted stock units granted on February 20, 2025 and April 15, 2025. Vesting occurs based on continuous service through December 31, 2027. (10) Restricted stock units granted on April 15, 2025. Vesting occurs based on continuous service through April 15, 2026.

  76. 2025 OPTION EXERCISES AND STOCK VESTED

    2025 OPTION EXERCISES AND STOCK VESTED The following table shows a summary of the stock awards vested for our named executive officers during 2025. No stock options were exercised during 2025.

  77. 2025 OPTION EXERCISES AND STOCK VESTED

    | | Stock Awards | | | | Name | Long-Term Equity Awards | Number of Shares Acquired on Vesting (#) | Value Realized on Vesting ($)(1) | | Lisa Barton | Performance Shares | 26,998 | $1,890,130 | | | Performance Restricted Stock Units | 20,535 | $1,437,655 | | | Restricted Stock Units | 13,299 | $864,568 | | Robert Durian | Performance Shares | 15,837 | $1,108,748 | | | Performance Restricted Stock Units | 12,045 | $843,270 | | | Restricted Stock Units | 7,802 | $507,208 | | Raja Sundararajan | Performance Shares | 10,660 | $746,307 | | | Performance Restricted Stock Units | 8,108 | $567,641 | | | Restricted Stock Units | 5,251 | $341,368 | | Antonio Smyth | Performance Shares | 7,890 | $552,379 | | | Performance Restricted Stock Units | 5,224 | $365,732 | | David de Leon | Performance Shares | 4,894 | $342,629 | | | Performance Restricted Stock Units | 3,722 | $260,577 | | | Restricted Stock Units | 2,411 | $156,739 |

  78. 2025 OPTION EXERCISES AND STOCK VESTED

    (1) For performance shares granted for the 2023-2025 performance period, reflects an amount calculated by multiplying the number of vested performance shares, plus accumulated dividend equivalent units (including fractional amounts not shown), by the fair market value of our common stock on February 19, 2026 (the date the Compensation Committee certified achievement of the performance goals for such performance shares) of $70.01. For performance restricted stock units granted for the 2023-2025 performance period, reflects an amount calculated by multiplying the number of vested performance restricted stock units, plus accumulated dividend equivalent units (including fractional amounts not shown), by the fair market value of our common stock on February 19, 2026 (the date the Compensation Committee certified achievement of the performance goals for such performance restricted stock units) of $70.01. For restricted stock units granted for the 2023-2025 performance period, reflects an amount calculated by multiplying the number of vested shares of restricted stock units, plus accumulated dividend equivalent units (including fractional amounts not shown), by the fair market value of our common stock on December 31, 2025 of $65.01. Performance restricted stock units, performance shares, and restricted stock units are settled in shares only.

  79. 2025 PENSION BENEFITS

    2025 PENSION BENEFITS The following table sets forth the number of years of credited service, the present value of accumulated benefits and payments during 2025 for each of our named executive officers under the Alliant Energy Cash Balance Pension Plan and the Alliant Energy Excess Retirement Plan which are each described below. The amounts shown for our named executive officers are estimates only and do not necessarily reflect the actual amounts that will be paid to them, which will only be known at the time that they become eligible for payment.

  80. 2025 PENSION BENEFITS

    | Name | Plan Name(1) | Number of Years Credited Service (#)(2) | Present Value of Accumulated Benefit ($)(3) | Payments During 2025 ($) | | Lisa Barton | Cash Balance Pension Plan | N/A | N/A | | | | Excess Retirement Plan | 2.9 | $123,000 | | | | | Total | $123,000 | $0 | | Robert Durian | Cash Balance Pension Plan | 15.9 | $186,000 | | | | Excess Retirement Plan | 33.3 | $431,000 | | | | | Total | $617,000 | $0 | | Raja Sundararajan | Cash Balance Pension Plan | N/A | N/A | | | | Excess Retirement Plan | 2.6 | $40,000 | | | | | Total | $40,000 | $0 | | Antonio Smyth | Cash Balance Pension Plan | N/A | N/A | | | | Excess Retirement Plan | 0.8 | $4,000 | | | | | Total | $4,000 | $0 | | David de Leon | Cash Balance Pension Plan | 21.2 | $394,000 | | | | Excess Retirement Plan | 38.6 | $62,000 | | | | | Total | $456,000 | $0 |

  81. 2025 PENSION BENEFITS

    (1) All named executive officers are eligible for the Excess Retirement Plan. Mr. Durian and Mr. de Leon are eligible for the Cash Balance Pension Plan. (2) Years of credited service for the Cash Balance Pension Plan are less than the actual years of service of the officer because the Cash Balance Pension Plan was frozen in August 2008. (3) The following assumptions, among others, were used to calculate the present value of accumulated benefits: benefit commencement age is the earliest unreduced retirement age for the predominant plan (Mr. Durian and Mr. de Leon each at age 62 for the Cash Balance Pension Plan and Excess Retirement Plan, and Ms. Barton, Mr. Sundararajan and Mr. Smyth each at age 65 for the Excess Retirement Plan); the benefit calculation date is December 31, 2025, consistent with our accounting measurement date for financial statement reporting purposes; the ASC 715 discount rate is 5.08% for the Excess Retirement Plan, and 5.48% for the Cash Balance Pension Plan (compared to 5.52% for the Excess Retirement Plan, and 5.64% for the Cash Balance Pension Plan in 2024); the post-retirement mortality assumption is based on the PRI-2012 mortality table with white collar adjustment and generational projection starting in 2012 using a modified Scale MP-2021 (same as used for ASC 715 valuations); the form of payment is 50% lump sum and 50% annuity for the Cash Balance Pension Plan and 100% lump sum for the Excess Retirement Plan.

  82. 2025 NON-QUALIFIED DEFERRED COMPENSATION

    2025 NON-QUALIFIED DEFERRED COMPENSATION The table below sets forth certain information as of December 31, 2025, for our named executive officers with respect to the Alliant Energy Deferred Compensation Plan, which is described below.

  83. 2025 NON-QUALIFIED DEFERRED COMPENSATION

    | Name | Executive Contributions in 2025 ($)(1) | Registrant Contributions in 2025 ($)(2) | Aggregate Earnings in 2025 ($)(3) | Aggregate Withdrawals/ Distributions in 2025 ($) | Aggregate Balance as of December 31, 2025 ($)(4) | | Lisa Barton | $110,188 | $0 | $42,972 | $0 | $360,813 | | Robert Durian | $104,654 | $16,158 | $461,818 | $0 | $3,790,701 | | Raja Sundararajan | $143,085 | $14,158 | $46,933 | $0 | $374,677 | | Antonio Smyth | $31,750 | $0 | $952 | $0 | $32,702 | | David de Leon | $0 | $0 | $0 | $0 | $0 |

  84. 2025 NON-QUALIFIED DEFERRED COMPENSATION

    (1) The amounts reported are also reported under the Salary and Non-Equity Incentive Plan Compensation columns, as applicable, in the Summary Compensation Table. (2) The amounts reported are also reported under the All Other Compensation column in the Summary Compensation Table and represent contributions earned in the last completed fiscal year but not credited until the following fiscal year. (3) The following portion of the amounts reported in this column, which represents above-market interest on deferred compensation, is reported under the Change in Pension Value and Non-qualified Deferred Compensation Earnings column in the Summary Compensation Table.

  85. 2025 NON-QUALIFIED DEFERRED COMPENSATION

    | Name | Above-Market Interest on Deferred Compensation | | Lisa Barton | $111 | | Robert Durian | $1,726 | | Raja Sundararajan | $0 | | Antonio Smyth | $0 | | David de Leon | $0 |

  86. 2025 NON-QUALIFIED DEFERRED COMPENSATION

    (4) The following amounts included in this column for the Alliant Energy Deferred Compensation Plan also have been reported in the Total column of the Summary Compensation Table for 2024 and 2023.

  87. 2025 NON-QUALIFIED DEFERRED COMPENSATION

    | Name | Reported for 2024 | Reported for 2023 | | Lisa Barton | $144,035 | $47,135 | | Robert Durian | $112,000 | $78,889 | | Raja Sundararajan | $161,161 | $11,539 | | Antonio Smyth | N/A | N/A | | David de Leon | N/A | N/A |

  88. 2025 NON-QUALIFIED DEFERRED COMPENSATION

    We maintain the Alliant Energy Deferred Compensation Plan (AEDCP) under which participants, including our current named executive officers, may defer up to 80% of base salary and annual incentive pay. Participants who have made the maximum allowed contribution to the Alliant Energy Corporation 401(k) Savings Plan may receive an additional credit from the Company to the AEDCP. The credit made in March 2025 was equal to 50% of A - B, where: A = the lesser of (i) 8% of base salary for the plan year or (ii) the sum of the amounts (if any) contributed by the participant to the Alliant Energy Corporation 401(k) Savings Plan during the applicable year that were eligible for matching contributions under the Alliant Energy Corporation 401(k) Savings Plan, plus the amounts deferred by the participant during the applicable year under the AEDCP; and B = the amount of any matching contributions under the Alliant Energy Corporation 401(k) Savings Plan on behalf of the participant for the applicable year. The participant may elect to have his or her deferrals credited to an Interest Account, Equity Account, Company Stock Account or Mutual Fund Account. Deferrals and matching contributions to the Interest Account receive an annual return based on the 10-year Treasury Bond Rate plus 1.50%. Deferrals and matching contributions credited to the Equity Account are treated as invested in an S&P 500 index fund. Deferrals and matching contributions credited to the Mutual Fund Account are treated as invested in a mutual fund or other investment vehicle offered under the Alliant Energy Corporation 401(k) Savings Plan and selected by the participant. Deferrals and matching contributions credited to the Company Stock Account are treated as though invested in our common stock and are credited with dividend equivalents, which are treated as if reinvested. The shares of common stock identified as obligations under the AEDCP are held in a rabbi trust. Payments from the AEDCP due to death or retirement may be made in a lump sum or in annual installments for up to 10 years at the election of the participant. Payments from the AEDCP for any reason other than death or retirement are made in a lump sum. Participants in the AEDCP are certain members of management or highly compensated employees under ERISA, and include all our current named executive officers except for Mr. de Leon.

  89. 2025 POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    2025 POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

  90. PAY VERSUS PERFORMANCE

    PAY VERSUS PERFORMANCE We believe our compensation philosophy and approach creates a strong link between executive compensation and Company performance. As described more fully in our Compensation Discussion and Analysis, our executive compensation program is guided by our purpose and values and is designed to promote our strategy. In accordance with SEC rules, the table below shows (i) the compensation reported in the Summary Compensation Table and the Compensation Actually Paid (calculated in accordance with SEC rules) for the Principal Executive Officer (PEO) for each year below and (ii) the average compensation reported in the Summary Compensation Table for the non-PEO named executive officers and the average Compensation Actually Paid (calculated in accordance with SEC rules) for the non-PEO named executive officers for each year below. It also includes the total shareowner return (TSR) for Alliant Energy and our defined peer group, our net income and adjusted EPS for each year. References to the Company in this section refer to Alliant Energy.

  91. PAY VERSUS PERFORMANCE

    | | | | | | Value of initial fixed $100 investment based on: | | | | | Year | Summary Compensation Table Total for PEO(1) | Compensation Actually Paid to PEO(3) | Average Summary Compensation Table Total for non-PEO Named Executive Officers(2) | Average Compensation Actually Paid to non-PEO Named Executive Officers(3) | Alliant Total Shareowner Return(4) | Peer Group Total Shareowner Return(4) | Alliant Net Income (5) (Millions) | Alliant Adjusted EPS (6) | | 2025 | $8,999,073 | $10,801,804 | $3,270,939 | $3,921,712 | $147.98 | $143.83 | $810 | $3.24 | | 2024 | $6,971,735 | $8,538,292 | $3,218,133 | $3,749,025 | $130.45 | $128.82 | $690 | $3.04 | | 2023 | $9,709,782 | $7,235,148 | $2,593,105 | $2,483,122 | $109.28 | $108.16 | $703 | $2.82 | | 2022 | $7,286,977 | $5,361,068 | $1,558,260 | $1,132,675 | $113.55 | $118.47 | $686 | $2.80 | | 2021 | $10,449,260 | $10,185,275 | $1,630,049 | $2,208,076 | $122.71 | $117.12 | $674 | $2.65 |

  92. PAY VERSUS PERFORMANCE

    (1) Reflects Summary Compensation Table Total compensation for Ms. Barton, our PEO for 2025 and 2024 as reported in this Proxy Statement, and for Mr. Larsen, our PEO as his compensation is reported in the 2023, 2022, and 2021 Proxy Statements. (2) Reflects Summary Compensation Table Total compensation for the following non-PEO Named Executive Officers (NEOs) reported in the Proxy Statements for each year listed below.

  93. PAY VERSUS PERFORMANCE

    | Name | 2025 | 2024 | 2023 | 2022 | 2021 | | Lisa Barton | N/A | N/A | X | N/A | N/A | | John Larsen | N/A | X | N/A | N/A | N/A | | Robert Durian | X | X | X | X | X | | Raja Sundararajan | X | X | X | N/A | N/A | | Antonio Smyth | X | N/A | N/A | N/A | N/A | | David de Leon | X | X | X | X | X | | Terry Kouba | N/A | N/A | X | X | X | | James Gallegos | N/A | N/A | N/A | X | X | | Michael Luhrs | N/A | N/A | N/A | X | N/A |

  94. PAY VERSUS PERFORMANCE

    (3) The following adjustments were made to Total compensation reported in the Summary Compensation Table (SCT) for 2025 below to arrive at compensation actually paid to the PEO and the non-PEO NEOs, computed in accordance SEC rules. Amounts below are based on average amounts for the non-PEO NEOs in 2025.

  95. PAY VERSUS PERFORMANCE

    | | 2025 | | | | PEO ($) | Average non-PEO NEOs ($) | | SCT Total | $8,999,073 | $3,270,939 | | Less SCT Grant Date Fair Value of Equity Awards | ($5,471,255) | ($1,705,987) | | Less SCT Change in Pension Value | ($111) | ($6,432) | | Plus Pension Plan Service Cost During Applicable Year | $25,260 | $7,739 | | +/- Change in Fair Value as of Year-End for Equity Awards Granted in Prior Fiscal Years that Remain Outstanding and Unvested at Year-End | $1,441,979 | $435,009 | | +/- Change in Fair Value as of Vest Date for Equity Awards Granted in Any Prior Year That Vest During Applicable Year (Compared to Fair Value as of Prior Year-End) | $— | $25,952 | | + Fair Value as of Year-End for Equity Awards Granted and that Remain Outstanding and Unvested at Year-End | $5,806,858 | $1,894,492 | | Compensation Actually Paid | $10,801,804 | $3,921,712 |

  96. PAY VERSUS PERFORMANCE

    (4) Reflects the Company’s TSR and Peer Group TSR based on the EEI Stock Index for the listed year. The EEI Stock Index is used to evaluate the Company’s TSR against peers as disclosed in the Compensation Discussion and Analysis and is also set forth in the stock performance graph included in the Company’s annual report for the year ended December 31, 2025. The amounts reported assume $100 was invested, as applicable, in each of the Company and the EEI Stock Index for the period starting December 31, 2020 through the end of the listed year. (5) The Company’s Net Income as reported in its GAAP audited financial statements for the listed year. (6) The Company’s Adjusted EPS as reported for the listed year in its proxy statements. Adjustments to GAAP EPS for 2023, 2024 and 2025 are shown on page 22 in the Compensation Discussion and Analysis. Adjusted EPS in 2021 excludes a loss of $0.02 per share for the non-cash charge related to the redemption of IPL preferred stock. Adjusted EPS in 2022 excludes $0.03 per share of charges related to the Iowa state income tax rate change, $0.02 per share of charges related to retirement plan settlement losses, and $0.02 per share of charges related to an ATC base return on equity reserve adjustment.

  97. Relationship Between Compensation Actually Paid and Financial Performance Measures

    Relationship Between Compensation Actually Paid and Financial Performance Measures Our compensation programs are designed to link executive pay to the financial performance of the Company. As shown below, our executive compensation has a strong link to TSR, EPS and Net Income performance. This strong link is created by our incentive compensation being heavily weighted to TSR, EPS and Net Income. Our incentive compensation plan design is discussed further in the Compensation Discussion and Analysis. The following graphs further illustrate the relationship between the pay and performance figures that are included in the pay versus performance tabular disclosure above.

  98. Relationship Between Compensation Actually Paid and Financial Performance Measures

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  99. 20. What happens if a director nominee does not receive a majority of votes cast?

    20. What happens if a director nominee does not receive a majority of votes cast? Pursuant to our Bylaws, if any nominee for director in an uncontested election (i.e., an election where the number of nominees is not greater than the number of directors to be elected) receives more AGAINST votes than FOR votes, the director nominee is required to offer his or her resignation to the Chair of the Board of Directors following certification of the shareowner vote. The Nominating and Governance Committee will consider such resignation and make a recommendation to the Board as to whether to accept or reject the tendered resignation, or whether other action should be taken. The Board will act on the tendered resignation, taking into account the Nominating and Governance Committee’s recommendation and all other factors deemed relevant, and publicly disclose (by a press release, a filing with the SEC or other broadly disseminated means of communication) its decision regarding the tendered resignation within 90 days from the date of final certification of the shareowner vote. The director who has tendered a resignation pursuant to this provision will not participate in the Nominating and Governance Committee’s or the Board’s deliberations or decision with respect to the tendered resignation. Full details of our majority voting policy are set forth in our Bylaws and on our website at www.alliantenergy.com/investors under the Governance tab.