Commission
File
Number
|
Registrant;
State of Incorporation;
Address
and Telephone
Number
|
IRS
Employer
Identification
No.
|
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
|
[ ]
|
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
($)
|
William
H. Spence
President
(January 2 through April 1, 2007)
|
2008
2007
|
660,000
600,000
|
David
G. DeCampli
President
(beginning April 1, 2007)
Senior
Vice President-T&D Engineering
And
Operations (January 1 through April 1, 2007)
|
2008
2007
|
350,000
305,000
|
Paul
A. Farr
Senior
Vice President-Financial
(January
1 through April 1, 2007)
|
2008
2007
|
500,000
450,000
|
J.
Matt Simmons, Jr.
Vice
President and Controller
|
2008
2007
|
265,000
250,000
|
James
E. Abel
Treasurer
|
2008
2007
|
284,000
275,100
|
Name
and Position
|
Bonus
($)
|
William
H. Spence
President
(January 2 through April 1, 2007)
|
712,000
(1)
|
David
G. DeCampli
President
(beginning April 1, 2007)
Senior
Vice President-T&D Engineering
And
Operations (January 1 through April 1, 2007)
|
188,200
(1)
|
Paul
A. Farr
Senior
Vice President-Financial
(January
1 through April 1, 2007)
|
471,200
(1)
|
J.
Matt Simmons, Jr.
Vice
President and Controller
|
135,000
|
James
E. Abel
Treasurer
|
146,400
|
(1)
|
Includes
$712,000, $188,200 and $424,080 that Messrs. Spence, DeCampli and
Farr,
respectively, exchanged for restricted stock units under the terms
of PPL
Corporation'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.
|
Restricted
Stock Units (1)
|
|
||
Name
and Position
|
Sustained
Financial and Operational Results
|
Strategic
Objective Results
|
Stock
Options (2)
|
William
H. Spence (3)
President
(January 2 through April 1,
2007)
|
13,370
|
10,250
|
69,750
|
David
G. DeCampli (3)
President
(beginning April 1, 2007)
Senior
Vice President-T&D
Engineering
and Operations (January 1
through
April 1, 2007)
|
3,940
|
3,020
|
20,560
|
Paul
A. Farr (3)
Senior
Vice President-Financial
(January
1 through April 1, 2007)
|
8,820
|
6,770
|
46,030
|
J.
Matt Simmons, Jr.
Vice
President and Controller
|
1,790
|
2,340
|
12,210
|
James
E. Abel
Treasurer
|
1,970
|
2,570
|
13,430
|
(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 PPL Corporation's
common stock on The New York Stock Exchange on the date of
grant.
|
|
(2)
|
The
exercise price of the stock option awards is $47.55, the closing
price of
PPL Corporation's common stock on The New York Stock Exchange on
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, DeCampli and Farr also were granted 20,960, 5,540 and 12,490
restricted stock units, respectively, pursuant to the terms of PPL
Corporation's Cash Incentive Premium Exchange Program, which program
is
described in foot note 1 to the table in item 2
above.
|
Restricted
Stock
Units
|
Performance
Units
|
|
|
Name
and Position
|
Sustained
Financial and Operational Results
|
Total
Shareowner Return
|
Stock
Options
|
David
G. DeCampli
President
|
58%
|
29%
|
58%
|
J.
Matt Simmons, Jr.
Vice
President and Controller
|
42%
|
21%
|
42%
|
James
E. Abel
Treasurer
|
42%
|
21%
|
42%
|
PPL
ELECTRIC UTILITIES CORPORATION
|
|||
By:
|
/s/
J. Matt Simmons, Jr.
|
||
J.
Matt Simmons, Jr.
Vice
President and Controller
|