ida-20260402

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

(Amendment No. )

Filed by the Registrant þ

Filed by a Party other than the Registrant □

Check the appropriate box:


□			Preliminary Proxy Statement
□			Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
þ			Definitive Proxy Statement
□			Definitive Additional Materials
□			Soliciting Material under §240.14a-12

IDACORP, INC.

(Name of Registrant as Specified in its Charter)

(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

No fee required

□

Fee paid previously with preliminary materials

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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

April 2, 2026

Dear Fellow Shareholders:

You are cordially invited to attend the 2026 Annual Meeting of Shareholders of IDACORP, Inc. The Annual Meeting will be held on Thursday, May 21, 2026, at 10:00 a.m. (Mountain Time). We have adopted again for this year a virtual format for our Annual Meeting to provide a consistent and convenient experience to all shareholders regardless of location. You may attend the Annual Meeting virtually via the internet at proxydocs.com/IDA, where you will be able to vote electronically and submit questions. In order to attend, you must register in advance at proxydocs.com/IDA prior to the deadline of 3:00 p.m. (Mountain Time) on May 20, 2026. Upon completing your registration, you will receive further instructions via email, including your unique links that will allow you access to the meeting and will also permit you to submit questions. Please be sure to follow the instructions found on your proxy card and voting authorization form and subsequent instructions that will be delivered to you via email.

The matters to be acted upon at the meeting are described in our proxy materials, which are being furnished to our shareholders over the internet, other than to those shareholders who requested a paper copy. In addition, at the Annual Meeting we will discuss the company’s 2025 financial results, operational matters, and several of the company’s strategic initiatives and priorities.

Whether or not you attend the Annual Meeting, it is important that your shares be represented and voted at the meeting. Therefore, we urge you to promptly vote and submit your proxy via the internet, by telephone, or by mail, in accordance with the instructions included in the proxy statement.

We appreciate your continued interest in and support of our company.

Sincerely,



Dennis L. Johnson Chair of the Board of Directors			Lisa A. Grow President and CEO

IDACORP, Inc.

1221 West Idaho Street

Boise, Idaho 83702

NOTICE OF 2026 ANNUAL MEETING OF SHAREHOLDERS

VIRTUAL MEETING ONLY — NO PHYSICAL LOCATION


Date and Time:			Thursday, May 21, 2026 at 10:00 a.m. (Mountain Time)

Place:			To register for and participate in the live online Annual Meeting, please visit proxydocs.com/IDA. Please note that you will need the control number included on your proxy card and Notice of Internet Availability in order to register for and to access the Annual Meeting. Registration to participate is due by 3:00 p.m. (Mountain Time) on Wednesday, May 20, 2026.
Items of Business:			•To elect ten directors nominated by the board of directors for one-year terms; •To vote on an advisory resolution to approve executive compensation; •To ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2026; and •To transact such other business that may properly come before the meeting and any adjournments or postponements of the meeting.
Other Matters:			As of the date of this notice, the company has received no notice of any matters, other than those listed above, that may properly be presented at the Annual Meeting. If any other matters are properly presented for consideration at the meeting, the persons named as proxies on the proxy card that accompanies this proxy statement, or their duly constituted substitutes, will be deemed authorized to vote the shares represented by proxy or otherwise act on those matters in accordance with their judgment.
Record Date:			Holders of record of IDACORP common stock at the close of business on March 31, 2026, are entitled to notice of and to vote at the Annual Meeting or any adjournment or postponement of the Annual Meeting.
How to Vote:			Please vote your shares at your earliest convenience. Registered holders may vote (a) by internet prior to the Annual Meeting at proxydocs.com/IDA; (b) by internet during the Annual Meeting at proxydocs.com/IDA (advance registration required); (c) by toll-free telephone by calling (866) 702-2221; or (d) by mail (if you received a paper copy of the proxy materials by mail) by marking, signing, dating, and promptly mailing the enclosed proxy card in the postage-paid envelope. If you hold your shares through an account with a brokerage firm, bank, or other nominee, please follow the instructions you receive from them to vote your shares.

Important Notice Regarding the Availability of Proxy Materials for the 2026 Annual Meeting of Shareholders: Our 2026 proxy statement and our annual report for the year ended December 31, 2025, are available free of charge at
proxydocs.com/IDA.

By Order of the Board of Directors

Cheryl W. Thompson

Corporate Secretary

April 2, 2026

CONTENTS


						Page
PROXY STATEMENT HIGHLIGHTS						i

PART 1 – INFORMATION ABOUT THIS PROXY STATEMENT AND THE ANNUAL MEETING						1
General Information						1

PART 2 – CORPORATE GOVERNANCE AT IDACORP						2

PART 3 – BOARD OF DIRECTORS						15
PROPOSAL NO. 1: Election of Directors						15
Committees of the Board of Directors						21
Director Compensation						23

PART 4 – EXECUTIVE COMPENSATION						25
Compensation Discussion and Analysis						25
Compensation and Human Resources Committee Report						40
Our Compensation Policies and Practices as They Relate to Risk Management						41
Compensation Tables						42
2025 Summary Compensation Table						42
Grants of Plan-Based Awards in 2025						43
Outstanding Equity Awards at Fiscal Year-End 2025						44
Option Exercises and Stock Vested During 2025						46
Pension Benefits for 2025						46
Potential Payments Upon Termination or Change in Control						51
PROPOSAL NO. 2: Advisory Resolution to Approve Executive Compensation						59
CEO Pay Ratio						60
Pay Versus Performance						61

PART 5 – AUDIT COMMITTEE MATTERS						65
PROPOSAL NO. 3: Ratification of Appointment of Independent Registered Public Accounting Firm						65
Independent Accountant Billings						65
Policy on Audit Committee Pre-Approval of Audit and Non-Audit Services						66
Report of the Audit Committee						67

PART 6 – OTHER MATTERS

SEC Form DEF 14A filed by IDACORP Inc.