-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NNj/byyoTuAUR7LBC1fV8IUPShk6ILxOgBemAr93zXAxYfw6nEhrPyqnlZIUmz7E wb9EngRF59tnPYAkkPtsXQ== 0001094093-08-000059.txt : 20080320 0001094093-08-000059.hdr.sgml : 20080320 20080320170540 ACCESSION NUMBER: 0001094093-08-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080318 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080320 DATE AS OF CHANGE: 20080320 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROGRESS ENERGY INC CENTRAL INDEX KEY: 0001094093 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 562155481 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15929 FILM NUMBER: 08703165 BUSINESS ADDRESS: STREET 1: 410 S WILMINGTON ST CITY: RALEIGH STATE: NC ZIP: 27601 BUSINESS PHONE: 9195466463 MAIL ADDRESS: STREET 1: 410 S WILMINGTON ST CITY: RALEIGH STATE: NC ZIP: 27601 FORMER COMPANY: FORMER CONFORMED NAME: CP&L ENERGY INC DATE OF NAME CHANGE: 20000314 FORMER COMPANY: FORMER CONFORMED NAME: CP&L HOLDINGS INC DATE OF NAME CHANGE: 19990830 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLORIDA POWER CORP CENTRAL INDEX KEY: 0000037637 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247770 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03274 FILM NUMBER: 08703166 BUSINESS ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 7278205151 MAIL ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP / DATE OF NAME CHANGE: 19950829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAROLINA POWER & LIGHT CO CENTRAL INDEX KEY: 0000017797 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 560165465 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03382 FILM NUMBER: 08703167 BUSINESS ADDRESS: STREET 1: 410 S. WILMINGTON STREET CITY: RALEIGH STATE: NC ZIP: 27601 BUSINESS PHONE: 9195466111 MAIL ADDRESS: STREET 1: 410 S. WILMINGTON STREET CITY: RALEIGH STATE: NC ZIP: 27601 8-K 1 eightk03202008.htm CURRENT REPORT eightk03202008.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 18, 2008


 
(Commission File Number)
 
Exact names of registrants as specified in their charters, address of principal
executive offices, telephone number and state of incorporation
 
(IRS Employer Identification No.)
     
1-15929
PROGRESS ENERGY, INC.
56-2155481
 
410 S. Wilmington Street
  
 
Raleigh, North Carolina 27601-1748
  
 
Telephone: (919) 546-6111
  
 
State of Incorporation: North Carolina
  
     
1-3382
CAROLINA POWER & LIGHT COMPANY
56-0165465
 
d/b/a Progress Energy Carolinas, Inc.
  
 
410 S. Wilmington Street
  
 
Raleigh, North Carolina 27601-1748
  
 
Telephone: (919) 546-6111
  
 
State of Incorporation: North Carolina
  
     
1-3274
FLORIDA POWER CORPORATION
59-0247770
 
d/b/a Progress Energy Florida, Inc.
  
 
100 Central Avenue
  
 
St. Petersburg, Florida 33701-3324
  
 
Telephone: (727) 820-5151
  
 
State of Incorporation: Florida
  


None
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

This combined Form 8-K is filed separately by three registrants: Progress Energy, Inc., Carolina Power & Light Company d/b/a Progress Energy Carolinas, Inc. and Florida Power Corporation d/b/a Progress Energy Florida, Inc. Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf, and is not, and shall not, be deemed to be filed or disclosed by any other registrant.

 


SECTION 5 - Corporate Governance and Management

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

On March 18, 2008, the Organization and Compensation Committee (the “Committee”) of the Board of Directors of Progress Energy, Inc. (the “Company”) amended the Performance Share Sub-Plan (the “Sub-Plan”) and the Form of Restricted Stock Unit Award Agreement (the “RSU Agreement”) of the 2007 Equity Incentive Plan of which officers participate that would be considered “named executive officers” for Securities and Exchange Commission reporting purposes for the Company and its registered subsidiaries, Carolina Power & Light Company d/b/a Progress Energy Carolinas, Inc. and Florida Power Corporation d/b/a Progress Energy Florida, Inc.  Progress Energy’s executive officers serve as officers and/or directors of various Progress Energy subsidiaries. They have multiple responsibilities within and provide various services to Progress Energy and its subsidiaries.

The amendments to the Sub-Plan primarily involved administrative changes as well as providing the following for grants of performance shares made in 2008 or thereafter:
·  
Early retirement eligibility was revised to require the employee to be at least age 55 with at least 10 years of service;
·  
Early vesting was reduced from full vesting to pro rata vesting in the following cases:  early retirement, death (for awards with more than 6 months left in the performance period), and termination due to divestiture (for awards with more than 6 months left in the performance period);
·  
Payment calculation was changed to pay out at target upon early vesting from death or termination due to divestiture (where the death or termination occurs with more than 6 months left in the performance period) or upon completion of a change-in-control of the Company; and
·  
A provision was added for early vesting of a pro rata portion of the performance shares outstanding resulting from a termination due to disability with the payment to be based on actual performance at the end of the applicable performance period.

The amendments to the RSU Agreement primarily involved administrative changes as well as providing that, for grants made in 2008 or thereafter, (i) vesting of restricted stock units (“RSUs”) based on early retirement is reduced from full vesting to pro rata vesting and (ii) the RSUs will vest in one-third increments annually over the three years following the grant date.

 
 
 
 



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.
 

     
PROGRESS ENERGY, INC.,
     
CAROLINA POWER & LIGHT COMPANY,
     
d/b/a PROGRESS ENERGY CAROLINAS, INC. and
     
FLORIDA POWER CORPORATION
     
d/b/a PROGRESS ENERGY FLORIDA, INC.
     
Registrants
       
       
       
   
By:
/s/ Frank A. Schiller
     
Frank A. Schiller
     
Vice President
       

Date: March 20, 2008
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