-----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, BjUDTPCBH/3qHbcW0WqcxhqVmblVMbj64HxsevdnhbfH2AJEGAaO2FaqIqPu1VmO Q4acyTzjypXNG+WV9TCPsw== 0000950124-05-006611.txt : 20051123 0000950124-05-006611.hdr.sgml : 20051123 20051123093447 ACCESSION NUMBER: 0000950124-05-006611 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051117 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051123 DATE AS OF CHANGE: 20051123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DTE ENERGY CO CENTRAL INDEX KEY: 0000936340 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 383217752 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11607 FILM NUMBER: 051223042 BUSINESS ADDRESS: STREET 1: 2000 2ND AVENUE STREET 2: ROOM 2412 CITY: DETROIT STATE: MI ZIP: 48226-1279 BUSINESS PHONE: 3132354000 MAIL ADDRESS: STREET 1: 2000 2ND AVENUE STREET 2: ROOM 2412 CITY: DETROIT STATE: MI ZIP: 48226 FORMER COMPANY: FORMER CONFORMED NAME: DTE HOLDINGS INC DATE OF NAME CHANGE: 19950127 8-K 1 k00341e8vk.htm CURRENT REPORT, DATED NOVEMBER 17, 2005 e8vk
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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): November 17, 2005
         
 
  Exact Name of Registrant as Specified in its Charter,    
Commission
  State of Incorporation, Address of Principal   IRS Employer
File Number
  Executive Offices and Telephone Number   Identification No.
         
1-11607
  DTE Energy Company   38-3217752
 
  (a Michigan corporation)    
 
  2000 2nd Avenue    
 
  Detroit, Michigan 48226-1279    
 
  313-235-4000    
     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))
 
 

 


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Item 1.01. Entry Into a Material Definitive Agreement.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
Item 9.01. Financial Statements and Exhibits.
SIGNATURES
EXHIBIT INDEX
Press Release, dated November 23, 2005


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Item 1.01. Entry Into a Material Definitive Agreement.
On November 17, 2005, the Board of Directors of DTE Energy Company (the “Company”) approved the Company’s 2006 non-employee director compensation which is the same as their approved 2005 compensation except for an increase in the number of shares of phantom stock to be awarded. The 2006 compensation arrangements are summarized below.
Non-employee directors will receive a cash retainer of $50,000 annually. In recognition of the added duties, the chairperson of the Audit Committee will receive an additional $10,000 annually and the chairpersons of all other committees will receive an additional $5,000 annually. Non-employee directors also will receive $2,000 for each Board meeting attended and $1,000 for each committee meeting attended.
Upon first election to the Board, each non-employee director will receive 1,000 shares of time-based restricted stock under the Company’s Stock Incentive Plan, which shares will be subject to three year vesting and forfeiture. For 2006, each non-employee director will receive 1,750 shares of vested phantom stock, an increase of 500 shares over what was approved for 2005, under the Company’s Deferred Stock Compensation Plan for Non-Employee Directors, which shares will be subject to three year deferral. In addition, the Company will pay the premiums on directors’ life and travel accident insurance.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On November 17, 2005, Peter B. Oleksiak was elected by the Board of Directors of the Company to the position of Controller, effective December 5, 2005. Prior to Mr. Oleksiak, Daniel G. Brudzynski had served as Vice President and Controller for the Company since February 2001 and will continue to serve as such until the effective date of Mr. Oleksiak’s election. For additional information, please see DTE Energy’s press release dated November 23, 2005, attached as Exhibit 99.1.
Mr. Oleksiak, 39, joined The Detroit Edison Company, a wholly owned subsidiary of DTE Energy, in May 1998 as Nuclear Generation Financial Controller. He was the DTE Energy Finance Lead for the MCN implementation from October 1999 through December 2000 in preparation for DTE Energy’s merger with MCN Energy Group in 2001. He was Group Controller for DTE Energy’s Energy Resources business line from April 2000 through March 2005 and has served as Assistant Controller for DTE Energy Company since March 2005.
Item 9.01. Financial Statements and Exhibits.
(c)  Exhibits
     
99.1
  Press Release of DTE Energy Company dated November 23, 2005.
Forward-Looking Statements:
This Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the “Forward-Looking Statements” section in the Company’s 2004 Form 10-K (which section is incorporated by reference herein), and in conjunction with other SEC reports filed by the Company that discuss important factors that could cause the Company’s actual results to differ materially. The Company expressly disclaims any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

 


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SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 23, 2005
         
  DTE ENERGY COMPANY
(Registrant)
 
 
  /s/ Larry E. Steward    
  Larry E. Steward   
  Vice President   

 


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EXHIBIT INDEX
     
Exhibit
   
Number
  Description
 
   
99.1
  Press Release of DTE Energy Company dated November 23, 2005.

 

EX-99.1 2 k00341exv99w1.htm PRESS RELEASE, DATED NOVEMBER 23, 2005 exv99w1
 

Exhibit 99.1
Nov. 23, 2005
DTE Energy Board elects Peter Oleksiak controller,
Daniel Brudzynski vice president, Regulatory Affairs
     DETROIT — DTE Energy’s Board of Directors has elected Peter Oleksiak to the position of controller and Daniel Brudzynski to vice president, Regulatory Affairs.
     In his new assignment, Oleksiak will replace Brudzynski as controller and will report to David Meador, executive vice president and chief financial officer. Brudzynski will report to Michael Champley, senior vice president, Regulatory Affairs.
     “Both Peter and Dan are important members of our leadership team,” said Anthony F. Earley Jr., DTE Energy chairman and chief executive officer. “Their new responsibilities position the company for the future. Peter will continue the focus of the controller’s organization to strengthen DTE Energy’s utilities’ financial controls and costs, while Dan brings a wealth of financial and accounting background to the day-to-day operations of Regulatory Affairs.”
     Oleksiak joined DTE Energy in 1998 and has worked in a number of increasingly responsible financial positions until becoming assistant controller earlier this year. Prior to DTE Energy, Oleksiak had a variety of financial analyst and supervisory positions at Chrysler Corp.
     Oleksiak earned a Bachelor of Science degree in finance and business economics from Wayne State University and a Master of Business Administration from the Wharton School of Business, University of Pennsylvania.
     Brudzynski joined the company in 1997 as assistant controller and has served in multiple capacities. He has served as controller since 1999 and vice president since 2001. Prior to joining the company, Brudzynski worked for Chrysler Corp.’s controller’s office in a variety of financial-related positions.
     Brudzynski earned a Bachelor of Science degree in finance and accounting from Wayne State University and a Master of Business Administration from the University of Detroit.
     DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, MichCon, a natural gas utility serving 1.2 million customers in Michigan and other non-utility, energy businesses focused on power and industrial projects, fuel transportation and marketing, and unconventional gas production. Information about DTE Energy is available at www.dteenergy.com.
     This press release contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the Forward-Looking Statements section in DTE Energy’s 2004 Form 10-K (which section is incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy that discuss important factors that could cause DTE Energy’s actual results to differ materially. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.
#     #     #
For further information, members of the media may contact:
Scott Simons
  Lorie N. Kessler
(313) 235-8808
  (313) 235-8807

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