2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 416 UNITIL CORPORATION Reported Versus Realized Pay in 2017 SincetotalreportedpayforeachNamedExecutiveOfficerinthe2017SummaryCompensationTableis comprisedofasignificantamountofpotentialpay,payactuallyrealizedeachyearisalsocalculated.This totalmayincludeincentivecompensationpaidin2017fortheprioryear,andequitycompensationthatwas grantedinprioryears,butvestedin2017.Generally,realizedpaydoesnotincludethechangeinpension valueorthevalueofrestrictedstockthatisunvestedatthetimeofgrant.Thetablebelowshowsrealized payin2017foreachNamedExecutiveOfficer,aswellasthepercentage ofrealizedpaytoreportedpay.For theyears2015to2017,intheaggregate,realizedpaywasanaverageof62%ofreportedpay. 2017REALIZEDPAY Name Salary ($) RestrictedStock Vestedin2017 (1) ($) Non-Equity IncentivePlan Compensation (2) ($) AllOther Compensation (3) ($) Total ($) Percentage of2017 ReportedPay (4) (%) (a) (b) (c) (d) (e) (f) (g) RobertG.Schoenberger 675,850 628,170 581,536 429,705 2,315,261 67% MarkH.Collin 341,150 150,041 203,212 71,466 765,869 54% ThomasP.Meissner,Jr. 341,150 150,041 203,212 252,912 947,315 63% ToddR.Black 247,900 79,970 114,858 41,913 484,641 63% LaurenceM.Brock 211,805 41,561 85,070 21,647 360,083 65% NOTES: (1) Thevaluesshownincolumn(c)representthetotalvalueofsharesofRestrictedStockthatvestedin2017,and includes(i)sharesthatvestedonFebruary3,2017ataclosingpriceof$45.90pursuanttothetermsoftherestricted stockawardsgrantedonFebruary4,2013,(ii)sharesthatvestedonJanuary31,2017ataclosingpriceof$45.77 pursuanttothetermsoftherestrictedstockawardsgrantedonJanuary31,2014,(iii)sharesthatvestedon January26,2017ataclosingpriceof$46.70pursuanttothetermsoftherestrictedstockawardsgrantedon January26,2015,and(iv)sharesthatvestedonJanuary26,2017ataclosingpriceof$46.70pursuanttothetermsof therestrictedstockawardsgrantedonJanuary26,2016.ThisinformationisalsoincludedintheOptionsExercised andStockVestedTableinthesectionentitled Compensation—CompensationofNamedExecutiveOfficers . (2) TheamountsshownforeachNamedExecutiveOfficerreflectthecashincentiveawardedonJanuary30,2017for 2016ManagementIncentivePlanresults.Eachcashawardwaspaidat139%ofTarget.Seealsocolumn(g)ofthe SummaryCompensationTableinthesectionentitled Compensation—CompensationofNamedExecutiveOfficers . (3) TheamountsshownforeachNamedExecutiveOfficerreflecttheamountsalsoshownincolumn(i)oftheSummary CompensationTable.Compensationinthe“AllOtherCompensation”categoryfor2017wasfullyrealized. (4) ThevaluesshownforeachNamedExecutiveOfficerreflectthepercentageoftotalreportedpayasshowninthe SummaryCompensationTableontheprecedingpages. 51