-----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, SyMF6771gFDVrJZkOXrcnDv2Eny3Fp3YZgDqx9kNfh+RfkJNUAi/OMAW8lM+gmQb 9OYYkqbHkfRarSNsHep3Rg== 0001009881-96-000028.txt : 19960503 0001009881-96-000028.hdr.sgml : 19960503 ACCESSION NUMBER: 0001009881-96-000028 CONFORMED SUBMISSION TYPE: DFAN14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960502 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: QUESTAR CORP CENTRAL INDEX KEY: 0000751652 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] IRS NUMBER: 870407509 STATE OF INCORPORATION: UT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-08796 FILM NUMBER: 96555034 BUSINESS ADDRESS: STREET 1: 180 E FIRST SOUTH ST STREET 2: PO BOX 45433 CITY: SALT LAKE CITY STATE: UT ZIP: 84145 BUSINESS PHONE: 8015345000 MAIL ADDRESS: STREET 1: 180 E FIRST SOUTH ST STREET 2: P O BOX 45433 CITY: SALT LAKE CITY STATE: UT ZIP: 84145 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: UNITED FOOD & COMMERCIAL WORKERS UNION LOCAL 99R CENTRAL INDEX KEY: 0001009881 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: DFAN14A BUSINESS ADDRESS: STREET 1: C/O DAVIS COWELL & BOWE STREET 2: 100 VAN NESS AVENUE 20TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94102 BUSINESS PHONE: 4156261880 MAIL ADDRESS: STREET 1: C/O DAVIS COWELL & BOWE STREET 2: 100 VAN NESS AVENUE 20TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94102 DFAN14A 1 CONTACT: Andrew J. Kahn [transmitted by Ronald Proschan] DAVIS, COWELL & BOWE 100 Van Ness Avenue, 20th Floor San Francisco, CA 94102 415-626-1880 800-622-0641 DISTRIBUTION: US 2 - ----------------------------------------------------------------- FOR IMMEDIATE RELEASE May 2, 1996 AT U.S. WEST AND QUESTAR, SHAREHOLDER CHALLENGE TO GOLDEN PARACHUTES FOR EXECUTIVES WHO QUIT Both U.S. West Inc. and Questar Corp. have policies which allow senior executives to quit and receive the same severance pay as if they had been fired. These policies are being challenged by a shareholder proposal coming up for a vote at these companies' annual shareholders meetings. The proponent is shareholder United Food & Commercial Workers Local 99R, a Phoenix-based food industry union. The policy at U.S. West (NYSE:USW,UMG) would pay at least 3 years' worth of compensation to officers who quit in the 3 years after a change in control if quitting in response to any reduction in the officer's benefits ("including Company-paid and/or reimbursed club memberships") or in response to "any diminution in the status or responsibilities of the Executive's position." The policy at Questar (NYSE:STR) does not require any change in employment for severance to be paid to an officer quitting within 3 years of a change in control, so long as the officer stayed on 6 months after the changeover. An officer quitting in the first year after a change in control would receive two years' severance. A "change in control" triggering both policies includes purchase of a large block of stock by another corporation or replacement of the existing board. William McDonough, Local 99R President, said, "Name me one rank-and-file worker in this country who has a benefit as generous as these golden parachutes. Shareholders should not have to reward executives for choosing to quit." All press inquiries should be directed to Local 99R counsel, Andrew Kahn, at (415) 626-1880 or (800) 622-0641, who will supply press members with Local 99R's proxy statements and copies of company policies. The U.S. West meeting is June 7 in Ames, Iowa. U.S. West refused to include Local 99R's proposal in the Company's proxy card: thus the only way currently for shareholders to vote for the proposal is to attend the meeting or obtain a proxy statement and card from Local 99R (2501 W. Dunlap Ave. Phoenix 85021 tel. 602-572-2149). The Questar shareholders meeting is May 21 in Salt Lake City. Questar's proxy card includes the proposal. Local 99R is engaged in a labor dispute with Albertson's. A U.S. West executive sits on the Albertson's board of directors, and an Albertson's executive sits on Questar's board. -----END PRIVACY-ENHANCED MESSAGE-----