PG&E Corp. plans to pay a group of top executives nearly $11 million in performance-based bonuses this year, the bankrupt utility owner said yesterday, the San Francisco Chronicle reported. The payouts would probably be a mix of cash and stock, and based on factors weighted heavily toward safety, the company said in a filing with the Securities and Exchange Commission. Twelve executives, excluding CEO Bill Johnson, are eligible for the bonuses, court papers show. PG&E cannot award the bonuses without approval from the U.S. Bankruptcy Court for the Northern District of California. The company and its utility subsidiary, Pacific Gas and Electric Co., entered bankruptcy protection in January largely because of their liability in recent devastating wildfires, including the historically deadly 2018 Camp Fire that state officials say was started by PG&E power lines.
