Ameren management check
AEE · Utilities · Multi-Utilities · CEO Mr. Lyons
Filings as of
4 good · 2 to watch · 0 flagged, across the seven questions below.
- Watch
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $148, against $159 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.87 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
1.0% of net income$14.1m of reported pay in fiscal 2025, against $1.5bn of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $1.8m sold in six months. 5 of 8 sales ran on pre-arranged 10b5-1 plans.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +1.7% a year over the last three fiscal years. Stock-based pay was 0.3% of revenue in the latest year.
- Good
Is leadership stable?
9 leadership filings in 3 yearsCEO in the pay table: Mr. Lyons. 9 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Utilities.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 41 | 53 | |
| Pay for performance | 93 | 81 | |
| CEO cost | 51 | 50 | |
| Skin in the game | — | — | 45 |
| Dilution | 29 | 37 | |
| Stable leadership | 80 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Multi-Utilities, by management score. Ameren is 8th of 30 in its sector.
- 146NEENextEra Energy72
- 210CMSCMS Energy68
- 226AEEAmeren66
- 227SRESempra66
- 242NINiSource65
- 244CNPCenterPoint Energy65
- 245XELXcel Energy64
- 330DDominion Energy59
- 337PNWPinnacle West Capital59
- 361EDConsolidated Edison57
Pay versus performance
From the proxy statement filed March 31, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Lyons | $14.1m | $17.2m | $3.5m | $148 | $159 | $1.5bn |
| 2024 | — | $9.7m | $18.2m | $3.3m | $134 | $138 | $1.2bn |
| 2023 | — | $9.0m | $2.8m | $4.5m | $105 | $112 | $1.2bn |
| 2022 | — | $7.4m | $8.4m | $3.9m | $125 | $120 | $1.1bn |
| 2021 | — | $9.8m | $13.6m | $3.3m | $122 | $118 | $990.0m |
The board says pay is tied most to Adjusted (Non-GAAP) AnnualEarnings Per Share. Its other key measures: Annual EPS, Three-Year TSR Ranking vs. the TSR Peer Group, Energy Transition metric.
Insiders and the CEO's stake
Light activity: no buys, $1.8m sold in six months. 5 of 8 sales ran on pre-arranged 10b5-1 plans.
- SoldMichael L MoehnGroup President, Utilities · 10b5-1 plan$1.4mAug 3, 2026
- SoldTheresa A ShawSVP and CATO · 10b5-1 plan$235kAug 14, 2026
- SoldRyan J MartinSVP Finance$107kAug 20, 2026
- SoldRafael FloresDirector$26kSep 11, 2026
Leadership and governance on file
- Feb 9, 2026Leadership change8-K 5.02
- Dec 15, 2025Leadership change8-K 5.02
- Oct 14, 2025Leadership change8-K 5.02
- Oct 3, 2025Leadership change8-K 5.02
- Apr 28, 2025Leadership change8-K 5.02
- Mar 27, 2025Leadership change8-K 5.02
- Feb 3, 2025Leadership change8-K 5.02
- Dec 16, 2024Leadership change8-K 5.02
- Dec 18, 2023Leadership change8-K 5.02
- Oct 17, 2023Leadership change8-K 5.02
- Aug 14, 2023Leadership change8-K 5.02
- May 16, 2022Leadership change8-K 5.02
Latest shareholder vote results: May 18, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $3.3bn returned to owners in buybacks and dividends, and $128.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $6.4bn | $8.0bn | $7.5bn | $7.6bn | $8.8bn |
| Net income | — | — | — | — | — |
| Stock-based pay | $22.0m | $24.0m | $26.0m | $28.0m | $28.0m |
| Buybacks | — | — | — | — | — |
| Dividends | $565.0m | $610.0m | $662.0m | $714.0m | $768.0m |
| Diluted shares | 258m | 260m | 263m | 267m | 272m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.