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
|
[ ]
|
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))
|
Name
and Position
|
Year
|
Salary
($)
|
James
H. Miller
Chairman,
President and
Chief
Executive Officer
|
2008
2007
|
1,145,000
1,045,000
|
William
H. Spence
Executive
Vice President and
Chief
Operating Officer
|
2008
2007
|
660,000
600,000
|
Paul
A. Farr
Executive
Vice President and Chief Financial Officer
|
2008
2007
|
500,000
450,000
(1)
|
Robert
J. Grey
Senior
Vice President, General Counsel and Secretary
|
2008
2007
|
425,900
405,600
|
Paul
T. Champagne
President-PPL
Energy Services Group, LLC
|
2008
2007
|
412,000
412,000
|
Bryce
L. Shriver
President-PPL
Generation, LLC
|
2008
2007
|
405,000
390,000
|
John
R. Biggar (Retired as Executive Vice President and Chief Financial
Officer
April 1, 2007)
|
2008
2007
|
0
543,400 (2)
|
(1)
|
Mr.
Farr’s salary was increased from $409,000 to $450,000 effective April
1,
2007 upon his election as Executive Vice President and Chief Financial
Officer, succeeding John R. Biggar.
|
|
(2)
|
Mr.
Biggar received his base salary at this annualized rate through
his April
1, 2007 retirement date, plus an amount equal to three months of
this
annualized salary on the date of his
retirement.
|
Name
and Position
|
Bonus
($)
|
James
H. Miller
Chairman,
President and
Chief Executive Officer
|
1,604,700
|
William
H. Spence
Executive
Vice President and
Chief
Operating Officer
|
712,000
(1)
|
Paul
A. Farr
Executive
Vice President and
Chief
Financial Officer
|
471,200
(1)
|
Robert
J. Grey
Senior
Vice President, General Counsel and Secretary
|
368,000
(1)
|
Paul
T. Champagne
President-PPL
Energy Services Group, LLC
|
279,500
(2)
|
Bryce
L. Shriver
President-PPL
Generation, LLC
|
262,700
(1)
|
John
R. Biggar (Retired as Executive Vice President and Chief Financial
Officer
April 1, 2007)
|
250,300
(3)
|
(1)
|
Includes
$712,000, $424,080, $368,000 and $131,350, respectively, that Messrs.
Spence, Farr, Grey and Shriver exchanged for restricted stock units
under
the terms of the Company’s Cash Incentive Premium Exchange
Program. Pursuant to this program, an executive officer may
exchange all or any portion of the granted cash incentive compensation
for
restricted stock units equal in value to 140% of the cash exchanged,
valued at the per share price of the Company’s common stock on the date of
grant. The closing price of the Company’s common stock on
January 24, 2008, the date of grant, was $47.55.
|
|
(2)
|
Includes
$251,550 that Mr. Champagne elected to defer under the Company’s Officers
Deferred Compensation Plan.
|
|
(3)
|
The
incentive award for Mr. Biggar was prorated based on six months
of salary
eligibility.
|
Restricted
Stock Units (1)
|
|||
Name
and Position
|
Sustained
Financial
and
Operational
Results
|
Strategic
Objective Results
|
StockOptions
(2)
|
James
H. Miller
Chairman,
President and
Chief
Executive Officer
|
30,270
|
23,210
|
157,920
|
William
H. Spence (3)
Executive
Vice President and
Chief
Operating Officer
|
13,370
|
10,250
|
69,750
|
Paul
A. Farr (3)
Executive
Vice President and
Chief
Financial Officer
|
8,820
|
6,770
|
46,030
|
Robert
J. Grey (3)
Senior
Vice President, General Counsel and Secretary
|
5,780
|
4,440
|
30,180
|
Paul
T. Champagne
President-PPL
Energy Services Group, LLC
|
5,320
|
4,080
|
27,780
|
Bryce
L. Shriver (3)
President-PPL
Generation, LLC
|
5,040
|
3,870
|
26,290
|
John
R. Biggar (Retired as Executive Vice President and Chief
Financial Officer
April 1, 2007)
|
3,130
|
2,400
|
NA
|
(1)
|
The
number of restricted stock units awarded is equivalent to the dollar
value
of the award divided by $47.55, the closing price of the Company’s common
stock on The New York Stock Exchange on January 24, 2008, the date
of
grant.
|
|
(2)
|
The
exercise price of the stock option awards is $47.55, the closing
price of
the Company’s common stock on The New York Stock Exchange on January 24,
2008, the date of grant. The stock options become exercisable over
a
three-year period from the date of grant in equal installments
and expire
no later than January 24, 2018.
|
|
(3)
|
Messrs.
Spence, Farr, Grey and Shriver also were granted 20,960, 12,490,
10,840
and 3,860 restricted stock units, respectively, pursuant to the
terms of
the Company’s Cash Incentive Premium Exchange Program, which program is
described in foot note 1 to the table in item 2
above.
|
Name and Position |
Restricted
Stock
Units
|
Performance
Units
|
Stock
Options
|
|
Sustained
Financial and
Operational
Results
|
Total
Shareowner Return
|
|
James
H. Miller
Chairman,
President and
Chief
Executive Officer
|
130%
|
65%
|
130%
|
William
H. Spence
Executive
Vice President and
Chief
Operating Officer
|
100%
|
50%
|
100%
|
Paul
A. Farr
Executive
Vice President and
Chief Financial Officer
|
88%
|
44%
|
88%
|
Robert
J. Grey
Senior
Vice President, General Counsel
and
Secretary
|
64%
|
32%
|
64%
|
Paul
T. Champagne
President-PPL Energy Services
Group, LLC
|
58%
|
29%
|
58%
|
Bryce
L. Shriver
President-PPL
Generation, LLC
|
58%
|
29%
|
58%
|
John
R. Biggar (Retired as Executive
Vice President and Chief Financial Officer
April 1, 2007)
|
N/A
|
N/A
|
N/A
|
PPL
CORPORATION
|
|||
By:
|
/s/
J. Matt Simmons, Jr.
|
||
J.
Matt Simmons, Jr.
Vice
President and Controller
|