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Pay vs Performance Disclosure

2 Months Ended

9 Months Ended

12 Months Ended

Dec. 31, 2021

USD ($)

$ / shares

Nov. 15, 2021

USD ($)

Sep. 30, 2021

USD ($)

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2020

USD ($)

$ / shares

Dec. 31, 2019

$ / shares

Pay vs Performance Disclosure [Table]

Pay vs Performance [Table Text Block]

PAY FOR PERFORMANCE

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company’s aligns executive compensation with the Company’s performance, refer to the Compensation Discussion and Analysis.

									Value of initial fixed $100 investment based on:
	Summary Compensation Table Total for PEO ($) (Note 1)			Compensation Actually Paid to PEO ($) (Note 2)			Average Summary Compensation Table Total for Non-PEO NEOs ($) (d) (Note 3)	Average Compensation Actually Paid to Non-PEO NEOs ($) (e) (Note 4)	Exelon TSR ($) (f) (Note 5)	Peer Group TSR ($) (g) (Note 6)	Net Income ($M) (h) (Note 7)	Utility Earned ROE* (i) (Note 8)
Year (a)	Quiniones (b1)	Butler (b2)	Dominguez (b3)	Quiniones (c1)	Butler (c2)	Dominguez (c3)			Exelon TSR ($) (f) (Note 5)	Peer Group TSR ($) (g) (Note 6)	Net Income ($M) (h) (Note 7)	Utility Earned ROE* (i) (Note 8)
2022	2,734,835	—	—	2,642,671	—	—	1,452,173	1,341,285	147	122	2,054	9.4%
2021	64,261	4,596,942	3,388,832	64,261	8,334,991	5,424,656	1,235,926	1,616,790	136	121	1,616	9.2%
2020	—	—	2,413,739	—	—	1,695,573	1,126,747	865,560	96	103	1,099	8.7%

Notes to Pay-For-Performance Table

(1)

The dollar amounts reported in column (b1), (b2), and (b3) are the amounts of total compensation reported for Mr. Quiniones (ComEd’s current CEO), Mr. Butler (former interim CEO from October 1, 2021 – November 15, 2021), and Mr. Dominguez (former CEO through October 1, 2021), respectively, for each corresponding year in the “Total” column of the Summary Compensation Table.

•

As discussed in Exelon’s 2023 Proxy Statement, it was determined that not all incremental costs were reported for the use of corporate aircraft in 2020 and 2021. The revised aggregate incremental cost amounts for the use of corporate aircraft are reflected in the 2020 total for Mr. Dominguez and in the 2021 total for Mr. Butler.

(2)

The dollar amounts reported in columns (c1), (c2) and (c3) represent the amount of “compensation actually paid” to Messrs. Quiniones, Butler and Dominguez as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation

earned by or paid to Messrs. Quiniones, Butler, and Dominguez during the applicable year. Compensation actually paid is determined using the following assumptions:

Date	Performance Share Cycle	Closing Stock Price ($)	Performance	Exelon TSR	Performance fair value multiplier
12/31/2022	2022-2024	43.23	89.19%	108.60%	96.86%
12/31/2022	2021-2023	43.23	88.29%	107.10%	94.56%
12/31/2022	2020-2022	43.23	100.00%	100.00%	100.00%
12/31/2021	2021-2023	57.76	96.22%	128.10%	123.26%
12/31/2021	2020-2022	57.76	91.73%	124.10%	113.84%
12/31/2021	2019-2021	57.76	80.53%	87.69%	70.62%
12/31/2020	2020-2022	42.22	90.33%	95.10%	85.90%
12/31/2020	2019-2021	42.22	82.27%	78.90%	64.91%
12/31/2020	2018-2020	42.22	76.01%	83.74%	63.65%
12/31/2019	2019-2021	45.59	96.30%	76.30%	73.48%
12/31/2019	2018-2020	45.59	99.97%	96.90%	96.87%
12/31/2019	2017-2019	45.59	114.76%	93.85%	107.70%

See definitions of non-GAAP measures in Appendix A

In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to their total compensation for each year to determine the compensation actually paid:

		Adjustments
Year	Reported Summary Compensation Table Total for PEO ($)	Reported Value of Equity Awards (a) ($)	Equity Award Adjustments (b) ($)	Reported Change in the Actuarial Present Value of Pension Benefits (c) ($)	Pension Benefit Adjustments (d) ($)	Compensation Actually Paid to PEO ($)
2022 - Quiniones	2,734,835	(1,272,139)	1,179,975	—	—	2,642,671
2021 - Quiniones	64,261	—	—	—	—	64,261
2021 - Butler	4,596,942	(2,459,853)	6,252,583	(149,556)	94,875	8,334,991
2021 - Dominguez	3,388,832	(1,111,884)	3,232,652	(181,413)	96,469	5,424,656
2020 - Dominguez	2,413,739	(1,053,636)	393,603	(143,843)	85,710	1,695,573

(a)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

(b)

The amounts deducted or added in calculating the equity award adjustments are as follows:

	Year End Fair Value of Equity Awards ($)	Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)	Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)	Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)	Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)	Total Equity Award Adjustments ($)
2022 - Quiniones	1,179,975	—	—	—	—	1,179,975
2021 - Quiniones	—	—	—	—	—	—
2021 - Butler	3,885,483	2,345,503	—	21,596	—	6,252,583
2021 - Dominguez	1,756,283	1,451,838	—	24,531	—	3,232,652
2020 - Dominguez	926,959	(589,081)	—	55,725	—	393,603

(c)

The amounts included in this column are the amounts reported in “Change in Pension and Nonqualified Deferred Compensation” column of the Summary Compensation Table for each applicable year.

(d)

The total pension benefit adjustments for each applicable year include the aggregate of two components: (i) the actuarially determined service cost for services rendered by PEO’s during the applicable year (the “service cost”); and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation (the “prior service cost”), in each case, calculated in accordance with U.S. GAAP. The amounts deducted or added in calculating the pension benefit adjustments are as follows:

	Service Cost ($)	Prior Service Cost ($)	Total Pension Benefit Adjustments ($)
2022 - Quiniones	—	—	—
2021 - Quiniones	—	—	—
2021 - Butler	94,875	—	94,875
2021 - Dominguez	96,469	—	96,469
2020 - Dominguez	85,710	—	85,710

(3)

The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s named executive officers (NEOs) as a group (excluding PEO(s)) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding PEOs) included for purposes of calculating the average amounts in each applicable year are as follows:

	FY			NEOs (excluding the PEO(s))
	2022			Elisabeth Graham, Terence Donnelly, Melissa Washington, E. Glenn Rippie, Joseph Trpik
	2021			Joseph Trpik, Jeanne Jones, Terence Donnelly, Veronica Gomez, M. Michelle Blaise, Melissa Washington
	2020			Jeanne Jones, Terence Donnelly, Veronica Gomez, M. Michelle Blaise

(4)

The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the PEO(s)), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding the PEO(s)) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding the PEO(s)) for each year to determine the compensation actually paid, using the same methodology described above in Note 3:

	Average Reported Summary Compensation Table Total for Non-PEO NEOs ($)	Average Reported Value of Equity Awards ($)	Average Equity Award Adjustments (a) ($)	Average Reported Change in the Actuarial Present Value of Pension Benefits ($)	Average Pension Benefit Adjustments (b) ($)	Average Compensation Actually Paid to Non-PEO NEOs ($)
2022	1,452,173	(624,173)	570,976	(96,037)	38,345	1,341,285
2021	1,235,926	(340,078)	764,881	(96,603)	52,665	1,616,790
2020	1,126,747	(343,867)	143,374	(109,523)	48,829	865,560

(a)

The amounts deducted or added in calculating the total average equity award adjustments are as follows:

	Average Year End Fair Value of Equity Awards ($)	Year over Year Average Change in Fair Value of Outstanding and Unvested Equity Awards ($)	Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)	Average Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)	Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)	Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($)	Total Average Equity Award Adjustments ($)
2022	615,108	(40,983)	—	(3,149)	—	—	570,976
2021	494,055	264,258	5,283	8,484	(7,199)	—	764,881
2020	302,524	(160,379)	—	1,228	—	—	143,374

(b)

The amounts deducted or added in calculating the total pension benefit adjustments are as follows:

	Average Service Cost ($)	Average Prior Service Cost ($)	Total Average Pension Benefit Adjustments ($)
2022	38,345	—	38,345
2021	52,665	—	52,665
2020	48,829	—	48,829

(5)

ComEd does not have any securities listed and traded on a securities exchange. The values in column (f) represent cumulative TSR of ComEd’s parent Exelon, which is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Exelon’s share price at the end and the beginning of the measurement period by the Exelon’s share price at the beginning of the measurement period.

(6)

The values in column (g) represent the peer group TSR for Exelon because ComEd does not have any securities listed or traded on a securities exchange. The peer group used for this purpose is the published industry index: Philadelphia Utility Index, a market capitalization-weighted index composed of geographically diverse public utility stocks.

(7)

The dollar amounts reported in column (h) represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.

(8)

Utility Earned ROE in column (i) is calculated using adjusted (non-GAAP) operating earnings, reflecting all lines of business for the utility businesses (electric distribution, gas distribution, transmission), divided by average shareholder’s equity over the year. Management uses operating ROE as a measurement of the actual performance of the company’s utility business. While the

Company uses numerous financial and non-financial performance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that Utility Earned ROE is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the company to link compensation actually paid to the company’s NEOs, for the most recently completed fiscal year, to company performance.

Company Selected Measure Name

Utility Earned ROE

Named Executive Officers, Footnote [Text Block]

(1)

(3)

	FY			NEOs (excluding the PEO(s))
	2022			Elisabeth Graham, Terence Donnelly, Melissa Washington, E. Glenn Rippie, Joseph Trpik
	2021			Joseph Trpik, Jeanne Jones, Terence Donnelly, Veronica Gomez, M. Michelle Blaise, Melissa Washington
	2020			Jeanne Jones, Terence Donnelly, Veronica Gomez, M. Michelle Blaise

Peer Group Issuers, Footnote [Text Block]

(6)

Adjustment To PEO Compensation, Footnote [Text Block]

(2)

earned by or paid to Messrs. Quiniones, Butler, and Dominguez during the applicable year. Compensation actually paid is determined using the following assumptions:

Date	Performance Share Cycle	Closing Stock Price ($)	Performance	Exelon TSR	Performance fair value multiplier
12/31/2022	2022-2024	43.23	89.19%	108.60%	96.86%
12/31/2022	2021-2023	43.23	88.29%	107.10%	94.56%
12/31/2022	2020-2022	43.23	100.00%	100.00%	100.00%
12/31/2021	2021-2023	57.76	96.22%	128.10%	123.26%
12/31/2021	2020-2022	57.76	91.73%	124.10%	113.84%
12/31/2021	2019-2021	57.76	80.53%	87.69%	70.62%
12/31/2020	2020-2022	42.22	90.33%	95.10%	85.90%
12/31/2020	2019-2021	42.22	82.27%	78.90%	64.91%
12/31/2020	2018-2020	42.22	76.01%	83.74%	63.65%
12/31/2019	2019-2021	45.59	96.30%	76.30%	73.48%
12/31/2019	2018-2020	45.59	99.97%	96.90%	96.87%
12/31/2019	2017-2019	45.59	114.76%	93.85%	107.70%

See definitions of non-GAAP measures in Appendix A

In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to their total compensation for each year to determine the compensation actually paid:

		Adjustments
Year	Reported Summary Compensation Table Total for PEO ($)	Reported Value of Equity Awards (a) ($)	Equity Award Adjustments (b) ($)	Reported Change in the Actuarial Present Value of Pension Benefits (c) ($)	Pension Benefit Adjustments (d) ($)	Compensation Actually Paid to PEO ($)
2022 - Quiniones	2,734,835	(1,272,139)	1,179,975	—	—	2,642,671
2021 - Quiniones	64,261	—	—	—	—	64,261
2021 - Butler	4,596,942	(2,459,853)	6,252,583	(149,556)	94,875	8,334,991
2021 - Dominguez	3,388,832	(1,111,884)	3,232,652	(181,413)	96,469	5,424,656
2020 - Dominguez	2,413,739	(1,053,636)	393,603	(143,843)	85,710	1,695,573

(a)

(b)

The amounts deducted or added in calculating the equity award adjustments are as follows:

	Year End Fair Value of Equity Awards ($)	Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)	Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)	Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)	Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)	Total Equity Award Adjustments ($)
2022 - Quiniones	1,179,975	—	—	—	—	1,179,975
2021 - Quiniones	—	—	—	—	—	—
2021 - Butler	3,885,483	2,345,503	—	21,596	—	6,252,583
2021 - Dominguez	1,756,283	1,451,838	—	24,531	—	3,232,652
2020 - Dominguez	926,959	(589,081)	—	55,725	—	393,603

(c)

The amounts included in this column are the amounts reported in “Change in Pension and Nonqualified Deferred Compensation” column of the Summary Compensation Table for each applicable year.

(d)

	Service Cost ($)	Prior Service Cost ($)	Total Pension Benefit Adjustments ($)
2022 - Quiniones	—	—	—
2021 - Quiniones	—	—	—
2021 - Butler	94,875	—	94,875
2021 - Dominguez	96,469	—	96,469
2020 - Dominguez	85,710	—	85,710

Non-PEO NEO Average Total Compensation Amount

$ 1,452,173

$ 1,235,926

$ 1,126,747

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,341,285

1,616,790

865,560

Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

(4)

	Average Reported Summary Compensation Table Total for Non-PEO NEOs ($)	Average Reported Value of Equity Awards ($)	Average Equity Award Adjustments (a) ($)	Average Reported Change in the Actuarial Present Value of Pension Benefits ($)	Average Pension Benefit Adjustments (b) ($)	Average Compensation Actually Paid to Non-PEO NEOs ($)
2022	1,452,173	(624,173)	570,976	(96,037)	38,345	1,341,285
2021	1,235,926	(340,078)	764,881	(96,603)	52,665	1,616,790
2020	1,126,747	(343,867)	143,374	(109,523)	48,829	865,560

(a)

The amounts deducted or added in calculating the total average equity award adjustments are as follows:

	Average Year End Fair Value of Equity Awards ($)	Year over Year Average Change in Fair Value of Outstanding and Unvested Equity Awards ($)	Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)	Average Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)	Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)	Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($)	Total Average Equity Award Adjustments ($)
2022	615,108	(40,983)	—	(3,149)	—	—	570,976
2021	494,055	264,258	5,283	8,484	(7,199)	—	764,881
2020	302,524	(160,379)	—	1,228	—	—	143,374

(b)

The amounts deducted or added in calculating the total pension benefit adjustments are as follows:

	Average Service Cost ($)	Average Prior Service Cost ($)	Total Average Pension Benefit Adjustments ($)
2022	38,345	—	38,345
2021	52,665	—	52,665
2020	48,829	—	48,829

Compensation Actually Paid vs. Total Shareholder Return [Text Block]

The chart below compares the PEO and other NEOs’ Compensation Actually Paid (CAP) to TSR.

[MISSING IMAGE: bc_capvstotalshar-4c.jpg]

Compensation Actually Paid vs. Net Income [Text Block]

The chart below compares the PEO and other NEOs’ CAP to Exelon Net Income (GAAP).

Compensation Actually Paid vs. Company Selected Measure [Text Block]

The chart below compares the PEO and other NEOs’ CAP to Utility Earned ROE.

Total Shareholder Return Vs Peer Group [Text Block]

TSR Absolute and Relative Performance to the UTY

The chart below compares the cumulative TSR outperformance of Exelon to the peer group (UTY).

[MISSING IMAGE: lc_companyvspeer-4c.jpg]

Tabular List [Table Text Block]

Definitions of Non-GAAP Measures

Exelon reports its financial results in accordance with accounting principles generally accepted in the United States (GAAP) and supplements its reporting with certain non-GAAP financial measures, including:

•

Adjusted (non-GAAP) operating earnings per share

•

Adjusted operating earnings

•

Operating ROE

•

CFO (Cash from Operations)/Debt

•

FFO (Funds from Operations)/Debt

Total Shareholder Return Amount

$ 147