SEC Form 4

FORM 4
[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b).
(Print or Type Responses) UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person* Wiegand, Paul     M (Last)                      (First)                      (Middle) 411 108th Avenue NE, 15th Floor (Street) Bellevue, WA     98004-515 (City)                      (State)                      (Zip)	2. Issuer Name and Ticker or Trading Symbol Puget Energy, Inc.   PSD		6. Relationship of Reporting Person(s) to Issuer (Check all applicable)                         Director                           10% Owner            X          Officer                             Other           V.P. Corporate Planning 7. Individual or Joint/Group Filing (Check Applicable Line) X   Form filed by One Reporting Person       Form filed by More than One Reporting Person
	3. I.R.S. Identification     Number of Reporting     Person, if an entity     (voluntary)	4. Statement for     Month/Day/Year     February 25, 2003 5. If Amendment,     Date of Original     (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security     (Instr. 3)	2. Transaction Date     (Month/Day/Year)	2A. Deemed       Execution       Date, if any       (Month/Day/Year)	3. Transaction     Code     and     Voluntary     Code     (Instr. 8) Code  |  V	4. Securities Acquired (A) or Disposed (D) Of     (Instr. 3, 4, and 5)         Amount      |         A/D         |         Price	5. Amount of     Securities     Beneficially     Owned     Following     Reported Transaction(s)     (Instr. 3 and 4)	6. Owner-     ship     Form:     Direct(D)     or     Indirect (I)     (Instr. 4)	7. Nature of      Indirect      Beneficial      Ownership     (Instr. 4)
Common					2,837	D
Common					6,065	I	By 401(k)
Common					672	I	By Brokerage Account

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4(b)(v).
Persons who respond to the collection of information contained in this form are not required to
respond unless the form displays a currently valid OMB control number. (over)
SEC 1474 (9-02)

Wiegand, Paul M - February 25, 2003

Form 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned

(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security     (Instr. 3)	2. Conver-     sion or     Exercise     Price of     Deri-     vative     Security	3. Transaction     Date     (Month/     Day/     Year)	3A. Deemed       Execution       Date, if       any       (Month/       Day/       Year)	4. Transaction     Code     and     Voluntary (V)     Code     (Instr.8) Code | V	5. Number of Derivative     Securities Acquired (A)     or Disposed (D) Of     (Instr. 3,4 and 5)	6. Date Exercisable(DE) and     Expiration Date(ED)     (Month/Day/Year)   (DE)     |     (ED)	7. Title and Amount of     Underlying Securities     (Instr. 3 and 4)	8. Price     of     Derivative     Security     (Instr.5)	9. Number of     Derivative     Securities     Beneficially     Owned     Following     Reported     Transactions     (Instr.4)	10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I) (Instr.4)	11. Nature of       Indirect       Beneficial       Ownership       (Instr.4)
LTIP	$0.00 (1)	02/25/2003		A |	(A) 5,661	12/31/2006 | 12/31/2006	Common - 5,661		5,661	D
LTIP	$0.00 (1)					12/31/2003 | 12/31/2003	Common - 5,015		5,015	D
LTIP	$0.00 (1)					12/31/2004 | 12/31/2004	Common - 4,364		4,364	D
LTIP	$0.00 (1)					12/31/2005 | 12/31/2005	Common - 5,682		5,682	D
PSE Deferred Compensation Plan (2)	$0.00 (3)						Common - 1,098		1,098	D

Explanation of Responses :

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
        See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:   File three copies of this Form, one of which must be manually signed. If space is insufficient,
            see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number. /s/ Paul M Wiegand                   02-26-2003    
** Signature of Reporting Person                         Date



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Wiegand, Paul M - February 25, 2003

Form 4 (continued)

FOOTNOTE Descriptions for Puget Energy, Inc. PSD

Form 4 - February 2003

Paul M Wiegand
411 108th Avenue NE, 15th Floor

Bellevue, WA 98004-515

Explanation of responses:

(1)   LTIP share grants under the Puget Energy Long-Term Incentive Plan for Officers and Key Employees. LTIP Shares are paid in Puget Energy stock when vested in an amount ranging from zero to 175% of LTIP Share Grants.

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