form8k.htm

0000922224-12-000025.txt : 20120229 0000922224-12-000025.hdr.sgml : 20120229 20120229160357 ACCESSION NUMBER: 0000922224-12-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120229 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120229 DATE AS OF CHANGE: 20120229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL ELECTRIC UTILITIES CORP CENTRAL INDEX KEY: 0000317187 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 230959590 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00905 FILM NUMBER: 12652780 BUSINESS ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 BUSINESS PHONE: 610-774-5151 MAIL ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PP&L INC DATE OF NAME CHANGE: 19970912 FORMER COMPANY: FORMER CONFORMED NAME: PP & L INC DATE OF NAME CHANGE: 19970912 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL Corp CENTRAL INDEX KEY: 0000922224 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 232758192 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11459 FILM NUMBER: 12652779 BUSINESS ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 BUSINESS PHONE: 610-774-5151 MAIL ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PPL CORP DATE OF NAME CHANGE: 20000214 FORMER COMPANY: FORMER CONFORMED NAME: PP&L RESOURCES INC DATE OF NAME CHANGE: 19941123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL ENERGY SUPPLY LLC CENTRAL INDEX KEY: 0001161976 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 000000000 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32944 FILM NUMBER: 12652781 BUSINESS ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101 BUSINESS PHONE: 610.774.5151 MAIL ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101 8-K 1 form8k.htm FORM 8-K form8k.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): February 29, 2012

Commission File Number	Registrant; State of Incorporation; Address and Telephone Number	IRS Employer Identification No.

1-11459	PPL Corporation (Exact name of Registrant as specified in its charter) (Pennsylvania) Two North Ninth Street Allentown, PA 18101-1179 (610) 774-5151	23-2758192

1-32944	PPL Energy Supply, LLC (Exact name of Registrant as specified in its charter) (Delaware) Two North Ninth Street Allentown, PA 18101-1179 (610) 774-5151	23-3074920

1-905	PPL Electric Utilities Corporation (Exact name of Registrant as specified in its charter) (Pennsylvania) Two North Ninth Street Allentown, PA 18101-1179 (610) 774-5151	23-0959590

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:

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

Section 5 – Corporate Governance and Management

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

On February 29, 2012, PPL Corporation (“PPL” or the “Company”) issued a press release announcing that, effective March 5, 2012, David G. DeCampli had been elected President and a director of PPL Energy Supply, LLC (“PPL Energy Supply”), replacing James H. Miller who will be retiring April 1, 2012, and Gregory N. Dudkin had been elected President and a director of PPL Electric Utilities Corporation (“PPL Electric”), replacing Mr. DeCampli in those positions. A copy of the press release is filed as Exhibit 99.1 to this report and incorporated herein by reference.

Prior to this appointment, Mr. DeCampli has served as President of PPL Electric since April 2007 after serving since December 2006 as Senior Vice President of Transmission and Distribution Engineering and Operations of PPL Electric. As President of PPL Energy Supply, Mr. DeCampli will receive an annual salary of $481,400. In addition, in connection with his appointment, Mr. DeCampli was awarded $24,070 of performance units, the number of which units will be determined based on the closing price of PPL common stock on March 5, 2012, and which are to be granted under the Company’s 2012 Stock Incentive Plan, which plan is subject to approval by shareowners at PPL’s 2012 Annual Meeting of Shareowners (the “SIP”). Mr. DeCampli was also awarded $12,040 of stock options under the SIP, the number of which options will be determined based on the closing price of PPL common stock on March 5, 2012. In addition, Mr. DeCampli’s annual cash incentive target and long-term incentive target opportunities will be 65% and 160% of annual base salary, respectively.

Prior to this appointment, Mr. Dudkin has served since June 2009 as Senior Vice President-Operations of PPL Electric. Prior to that, from 2006 to 2009, Mr. Dudkin served as Senior Vice President of Technical Operations and Fulfillment at Comcast Corporation. As President of PPL Electric, Mr. Dudkin will receive an annual salary of $410,000. In addition, in connection with his appointment, Mr. Dudkin was awarded $20,500 of performance units, the number of which units will be determined based on the closing price of PPL common stock on March 5, 2012, and which are to be granted under the SIP. Mr. Dudkin was also awarded $10,250 of stock options under the SIP, the number of which options will be determined based on the closing price of PPL common stock on March 5, 2012. In addition, Mr. Dudkin’s annual cash incentive target and long-term incentive target opportunities will be 50% and 145% of annual base salary, respectively.

In their new positions, Mr. DeCampli and Mr. Dudkin will each be deemed executive officers of PPL and subject to the reporting requirements and trading restrictions applicable to PPL equity securities under Section 16 of the Securities Exchange Act of 1934.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d)	Exhibits

	99.1 -	Press release, dated February 29, 2012, announcing the election, effective March 5, 2012, of David G. DeCampli as President of PPL Energy Supply, LLC and Gregory N. Dudkin as President of PPL Electric Utilities Corporation.

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.

	PPL CORPORATION

	By:	/s/ Vincent Sorgi
		Vincent Sorgi Vice President and Controller

	PPL ENERGY SUPPLY, LLC

	By:	/s/ Vincent Sorgi
		Vincent Sorgi Vice President and Controller

	PPL ELECTRIC UTILITIES CORPORATION

	By:	/s/ Vincent Sorgi
		Vincent Sorgi Vice President and Chief Accounting Officer

Dated: February 29, 2012

EX-99.1 2 form8k-exhibit99_1.htm EXHIBIT 99.1 form8k-exhibit99_1.htm

Exhibit 99.1

Contacts:	For news media – George E. Biechler, 610-774-5997
	For financial analysts – Joseph P. Bergstein, 610-774-5609

PPL Names President of Supply Segment,

New President of Pennsylvania Delivery Company

ALLENTOWN, Pa. (Feb. 29, 2012) -- PPL Corporation (NYSE: PPL) announced Wednesday (2/29) that David G. DeCampli is being named to lead PPL’s competitive-market Supply segment.

In the new position, DeCampli will serve as president of PPL Energy Supply, LLC and president of PPL Generation, LLC, with responsibility for the company’s generating facilities in Pennsylvania and Montana as well as its energy marketing and trading operations.

DeCampli, who has more than 30 years of electric industry experience, has served as president of PPL Electric Utilities Corporation, the company’s Pennsylvania electricity delivery company, for five years.

“Dave is a proven leader who has an excellent understanding of the dynamics and challenges of the current state of the electricity business in the U.S.,” said William H. Spence, president and chief executive officer of PPL. “In this new role, Dave will be responsible for PPL’s competitive market operations, ensuring that we are maximizing the shareowner value of these businesses.”

Through its PPL Generation subsidiary, PPL owns and operates 11,000 megawatts of competitive generating capacity. The company markets that energy in the mid-Atlantic region and in the Northwest through its PPL EnergyPlus, LLC subsidiary.

Spence also announced today that Gregory N. Dudkin, currently senior vice president-Operations for PPL Electric Utilities, will replace DeCampli as president of the Pennsylvania delivery operation.

“Greg has more than three decades of experience in utility and telecommunications operations and has done an excellent job of improving the day-to-day operations of our Pennsylvania utility in the three years he’s been with PPL. We are very pleased to have someone of Greg’s experience and leadership ready to move into this important role,” said Spence.

Today’s announcement is part of the transition related to the retirement of James H. Miller, who served as chairman, president and CEO of PPL from 2006 until 2011, when Spence was named president and, later, CEO. Miller continues to serve as chairman until his March 31 retirement.

Spence, who served as chief operating officer for PPL from 2006 until his appointment as PPL president in July of last year, said he will not be appointing a new COO.

“After a thorough review of our strategic and operational needs, I believe the best structure at this point is to have the company’s four major business segments report directly to me,” said Spence. “This will allow appropriate collaboration among our executive management team while sharpening the focus on operational results in each of the business segments.”

The company’s major business segments are: the competitive-market Supply business, to be headed by DeCampli; the regulated Pennsylvania delivery business, to be headed by Dudkin; the company’s regulated electricity operations in the United Kingdom, headed by Rick L. Klingensmith, president of PPL Global, LLC; and PPL’s regulated Kentucky utility business, headed by Victor Staffieri, chairman, chief executive officer and president of LG&E and KU Energy LLC.

Also reporting to Spence are Paul A. Farr, PPL’s executive vice president and chief financial officer, and Robert J. Grey, senior vice president, general counsel and secretary.

Spence said the organizational changes will be effective March 5.

DeCampli, 54, became president of PPL Electric Utilities in April 2007 after joining PPL as senior vice president of Transmission and Distribution Operations and Engineering in late 2006.

Previously, he was vice president of Asset Management for Exelon Energy Delivery, responsible for system planning, investment strategy and operational performance for both PECO Energy in Philadelphia and Commonwealth Edison in Chicago. Earlier in his career, he held several positions with increasing responsibility in engineering, electric operations and customer service.

He holds a bachelor’s degree in electrical engineering from Drexel University and a master’s degree in organizational dynamics from the University of Pennsylvania.

Dudkin, 54, came to PPL from Comcast, where he was senior vice president of technical operations and fulfillment. Prior to that, he served as a regional senior vice president for Comcast’s Michigan operation. He has more than 20 years of wide-ranging electricity and gas utility experience at subsidiaries of Exelon Corp., including service as executive vice president of Energy Delivery Operations at ComEd and in customer service and operations vice president positions at PECO.

Dudkin earned a bachelor’s degree in mechanical engineering from the University of Delaware and a master’s in business administration from Widener University.

PPL Corporation, headquartered in Allentown, Pa., through its subsidiaries, owns or controls about 19,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity and natural gas to about 10 million customers in the United States and the United Kingdom. More information is available at www.pplweb.com.

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Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation.