2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 48 2.3 Table of contents (TOC) A key navigational tool to direct shareholders to topics of interest, the TOC has evolved to provide greater detail. In addition to the traditional top-tier navigation of major sections, many TOCs now feature second- and even third-tier navigation to particular subsections or topics of investor focus. The TOC can also serve as a keyword search to content of interest for hard-copy proxy readers, while offering immediate access for online readers through hyper-linking to relevant sections. Some TOCs treat “Executive Compensation” or “CD&A” as one line item. For these companies we recommend adding additional detail about where key topics within the CD&A can be located. For additional information, see also “CD&A TOCs” later in this guide. Many companies are also including headers and footers on each page, which help remind investors who may be reviewing multiple proxies at the same time about which company and section they are reviewing at any particular time. AMEREN CORPORATION AMERICAN AIRLINES GROUP PROXYSTATEMENT TABLE OF CONTENTS ProxyStatementSummary i TheMeeting 1 Purpose,Place,DateandTime 1 RecordDate;StockholdersEntitledtoVote 1 RequirementstoAttendAnnualMeeting 1 Quorum 1 VoteRequiredtoApproveEachProposal 1 VotingofProxies 2 RevocationofProxies 3 SolicitationofProxies 3 InspectorofElection 3 NoticeRegardingInternetAvailabilityofProxy Materials 3 ElectronicDeliveryofProxyMaterials 3 HouseholdingofProxyMaterials 4 Proposal1—ElectionofDirectors 5 ElectionofDirectors 5 DirectorNominees 5 BoardDiversity 6 QualificationsandPrincipalOccupations 6 BoardComposition 13 HowWeBuildaBoardThatisRightforAmerican Airlines 13 StockholderRecommendationsorNominationsof DirectorCandidates 13 Proposal2—RatificationofAppointmentof IndependentRegisteredPublicAccountingFirm 15 RatificationofIndependentRegisteredPublic AccountingFirm 15 IndependentRegisteredPublicAccountingFirm Fees 15 PolicyonAuditCommitteePre-Approval 16 Proposal3—AdvisoryVotetoApprove ExecutiveCompensation(Say-on-pay) 17 Proposal4—ApproveanAmendmenttoour RestatedCertificateofIncorporationtoEnable StockholdersWhoHoldatLeast20%ofOur OutstandingCommonStocktoCallSpecial Meetings 19 Proposal5—ShareholderProposaltoEnable StockholdersWhoHoldatLeast10%ofOur OutstandingCommonStocktoCallSpecial Meetings 21 StockholderProposal 21 BoardofDirectorsStatementinOpposition 22 SecurityOwnershipofCertainBeneficialOwners andManagement 24 InformationAbouttheBoardofDirectorsand CorporateGovernance 27 GovernanceOverview 27 BoardLeadershipandStructure 27 DirectorIndependence 28 BoardTenure 29 BoardDiversity 29 BoardSelf-Evaluation 29 BoardMeetings 29 Committees 30 BoardRoleinRiskOversight 33 RiskAssessmentwithRespecttoCompensation Practices 33 AnnualMeetingAttendance 34 DirectorContinuingEducation 34 CommunicationswiththeBoardofDirectorsand Non-ManagementDirectors 35 Sustainability 36 SustainingourBusiness 36 CodesofEthics 39 PublicPolicyAdvocacyandPoliticalContributions 39 DirectorCompensation 40 DirectorCompensation 41 LegacyDirectorCompensationPrograms 41 StockOwnershipGuidelines 42 CertainRelationshipsandRelatedParty Transactions 43 CertainRelationshipsandRelatedParty Transactions 43 PoliciesandProceduresForReviewandApproval ofRelatedPersonTransactions 43 ReportofTheAuditCommitteeofThe BoardofDirectors 44 CompensationDiscussionandAnalysis 45 Overview 45 ExecutiveSummary 45 2017CompensationObjectivesandPrograms 48 StockholderApprovalof2017Executive Compensation 49 DeterminationofExecutiveCompensation 49 ExecutiveCompensationMixwithanEmphasison Performance-BasedPay 50 BaseSalary 50 AnnualCashIncentiveProgram 50 Long-TermIncentivePrograms 51 ChangeinControlandSeveranceBenefits 53 OtherBenefitsandPerquisites 54 ContinuingFocusonLeadingPractices 55 CompensationCommitteeReport 57 ExecutiveOfficers 58 ExecutiveCompensation 60 SummaryCompensationTable 60 GrantsofPlan-BasedAwardsin2017 62 OutstandingEquityAwardsat2017Fiscal Year-End 63 OptionsExercisedandStockVested 64 PensionBenefits 64 NonqualifiedDeferredCompensation 65 PotentialPaymentsUponTerminationorChange inControl 66 EstimatedPotentialPayments 68 CEOPayRatio 68 EquityCompensationPlanInformation 70 Section16(a)BeneficialOwnershipReporting Compliance 71 OtherMatters 72 StockholderProposals 72 AnnualReportandAvailableInformation 72 AnnexA A-1 ReconciliationofCertainGAAPtoNon-GAAP FinancialInformation A-1 AnnexB B-1 AmendmenttoRestatedCertificateof Incorporation B-1 vi 2018ProxyStatement | TABLEOFCONTENTS T ABLE OF C ONTENTS P AGE PROXYSTATEMENTSUMMARY ................................................................... 1 FORWARD-LOOKINGINFORMATION ............................................................... 7 QUESTIONSANDANSWERSABOUTTHEANNUALMEETINGANDVOTING ............................. 7 AMERENCORPORATEGOVERNANCEOVERVIEW .................................................. 12 ITEMSYOUMAYVOTEON ........................................................................ 13 Item(1): ElectionofDirectors ......................................................................... 13 InformationConcerningNomineestotheBoardofDirectors ............................................... 13 BoardStructure .................................................................................... 21 BoardCommittees.................................................................................. 25 CorporateGovernance .............................................................................. 28 DirectorCompensation .............................................................................. 37 Item(2): Non-BindingAdvisoryApprovalofExecutiveCompensation ........................................ 40 Item(3): RatificationoftheAppointmentofPricewaterhouseCoopersLLPasIndependentRegisteredPublic AccountingFirmfortheFiscalYearEndingDecember31,2018..................................... 41 Item(4): ShareholderProposalRegardingaReportonCoalCombustionResiduals ............................ 41 OtherMatters........................................................................................ 46 SECURITYOWNERSHIP .......................................................................... 47 SecurityOwnershipofMoreThanFivePercentShareholders ................................................ 47 SecurityOwnershipofDirectorsandManagement ......................................................... 48 StockOwnershipRequirements......................................................................... 49 Section16(a)BeneficialOwnershipReportingCompliance .................................................. 49 EXECUTIVECOMPENSATION ..................................................................... 50 HumanResourcesCommitteeReport.................................................................... 50 CompensationDiscussionandAnalysis .................................................................. 50 NamedExecutiveOfficers ........................................................................... 50 Fiscal2017CompanyBusinessHighlights .............................................................. 51 Fiscal2017CompanyExecutiveCompensationHighlights................................................. 51 GuidingObjectives ................................................................................. 52 OverviewofExecutiveCompensationProgramComponents ............................................... 53 MarketDataandCompensationPeerGroup ............................................................ 53 MixofPay ........................................................................................ 54 BaseSalary ....................................................................................... 56 Short-TermIncentiveCompensation:ExecutiveIncentivePlan ............................................. 56 Targetsfor2017EPS,Co-WorkerInteractionsandCustomerMeasures ..................................... 57 Long-TermIncentiveCompensation ................................................................... 60 Perquisites ........................................................................................ 64 RetirementBenefits................................................................................. 64 Severance ........................................................................................ 64 ChangeofControl .................................................................................. 65 AmerenCorporation 2018ProxyStatement i