Standards of Conduct
PSEG's Standards of Conduct establish expectations of behaviorFor all directors, associates, contractors and consultants, these expectations apply to all relationships and activities with fellow associates, investors, customers, vendors, competitors, government agencies and officials, the media and all others who may associate our words and actions with PSEG.
On July 21, 2020, upon recommendation of the Audit Committee, the Board of Directors (“Board”) of Public Service Enterprise Group Incorporated (the “Company”) adopted and approved an amended Standards of Conduct (“Standards”).
The amended Standards maintain the same principles as the prior Standards, but incorporate additional guidance in areas in which employees frequently seek advice from the Office of Ethics & Compliance. The amendments incorporate additional clarifying information to reinforce the Company’s policies in the following areas: responsibilities of leaders; using and safeguarding company assets; handling confidential information; fair employment practices; and conflicts of interest. They also provide for clarification on applicable laws, including laws and regulations impacting international trade compliance. Further, the amendments include a new section highlighting the Company’s standards with respect to protecting the privacy of personal information of employees, customers and others with whom the Company does business.
The amended Standards of Conduct apply to all directors, officers and employees of the Company, and any third party doing business with the Company. The adoption of the amended Standards does not result in any waiver to any officer, director or employee of the Company, explicit or implicit, from any provision of the Standards as in effect prior to the Board’s action to amend the Standards.
The foregoing summary of the amended Standards of Conduct is subject to and qualified in its entirety by reference to the full text of the Standards of Conduct, a copy of which can be found on the Company’s website at: http://corporate.pseg.com/aboutpseg/leadershipandgovernance/standardsofconduct.
Information on who to contact if an employee seeks to report concerns that arise with respect to the Standards of Conduct.
The Standards do not anticipate every compliance or ethics situation that could arise during the course of an employee’s work. In addition, certain business decisions are not cut and dried and may present employees with real dilemmas not clearly addressed in the Standards. Employees must have access to guidance from a knowledgeable person to help them understand the Standards, resolve compliance and ethics questions not be specifically addressed in the Standards, and report any compliance or ethics concerns.
Managers and supervisors are employees' first source for guidance and the appropriate initial channel for questions or reporting compliance or ethics concerns. Employees are encouraged to contact his or her manager or supervisor to discuss issues of interpretation or to report concerns with respect to compliance with the law or the Standards. Managers or supervisors should report alleged violations of the law or the Standards to PSEG's Ethics and Compliance Counsel. If discussion with a supervisor is impractical or uncomfortable, employees may contact:
PSEG employees may also contact the PSEG Integrity Line service by phone at 1-800-655-7269 or through a website at https://pseg.alertline.com. The Integrity Line is available 24x7x365. Contacts may be made anonymously at the election of the employee.
A waiver of any provision of the Standards will only be made in exceptional circumstances for substantial cause. Requests for waivers must be submitted to Tamara Linde, Executive Vice President and General Counsel, or Antonio Fernandez, Chief Compliance Officer, for review and resolution. All waivers will be reported to the PSEG Compliance Committee. In addition, in accordance with legal requirements, any waiver of a provision in the Standards for any Director or Executive Officer will be made by the Board of Directors or a Board Committee and will be disclosed to stockholders.
Employee Name Prior Position Transferred to Transfer Date Elzahraa Elbenni Energy Resource & Trade (ER&T) Associate PSE&G Associate Engineer 9/23/19 David Dai PSEG Fossil Design Engineer PSE&G Staff Engineer 9/23/19 Luke Teitelbaum Process Analyst Customer Operations (PSE&G) Energy Resource & Trade (ER&T), Energy Supply Specialist 9/23/19 Nicholas Williams Lead Energy Analyst Energy Resource & Trade (ER&T), Energy Supply Specialist
10/7/19 Keiaun Boone Training Administrator (PSEG Power/Fossil Operations) Project – Health & Safety Coordinator (PSE&G) 10/21/19 Anna Ciambrone Supervising Planner (PSEG Power/Fossil Operations) Project – Office Administrator (PSE&G) 11/18/19 Jedidiah Poponne Reliability Engineer (PSEG Power) Engineer (PSE&G) 11/18/19 Christine Salvemini Fossil Work Week Coordinator
Project – Business Support Specialist (PSE&G) 11/18/19 Christian Azcona Business Analyst (PSEG Power/Fossil Operations) Project Manager – P&C R (PSE&G – Electric T&D – Projects & Construction) 12/2/19 Colin Wilson Sr. Business Management Associate (PSE&G) Associate Energy Supply Specialist (ER&T) 12/30/19 Stephen Iron Marketing – Analyst Asset Optimization Manager Electric Supply Acquisition (PSE&G) 1/13/20 Stephen Conte Business Support Specialist (PSE&G) Energy Supply Specialist (ER&T) 5/18/20 Mark Scorsolini Energy Trader – Green Products (ER&T) Manager Program Growth & Strategy (PSE&G) 1/11/21