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 earliest event reported: January 1, 2006
Commission
File
Number | | Exact name of registrants as specified in their
charters, address of principal executive offices and
registrants' telephone number | | IRS Employer
Identification
Number |
| | | | |
1-8841
2-27612
|
FPL GROUP, INC.
FLORIDA POWER & LIGHT COMPANY
700 Universe Boulevard
Juno Beach, Florida 33408
(561) 694-4000
|
59-2449419
59-0247775
|
State or other jurisdiction of incorporation or organization: Florida
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants 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 1- REGISTRANT'S BUSINESS AND OPERATIONS
Item 1.01 Entry into a Material Definitive Agreement
The Compensation Committee of FPL Group, Inc. (the "Company"), acting in its capacity as the Committee under the FPL Group, Inc. Amended and Restated Long Term Incentive Plan, approved, effective January 1, 2006, the grant to the Company's executive officers of performance shares for the performance period 1/1/06-12/31/08, as follows:
Performance Share Awards |
| | | | | | Estimated Future Payouts
Under Non-Stock Price-
Based Plans |
| | | | | | |
Name
| | Number of
Shares (#) | | Performance Period
Until Payout | |
Target (#)
| |
Maximum (#)
|
| | | | | | | | |
| | | | | | | | |
Lewis Hay, III | | 58,837 | | 1/1/06-12/31/08 | | 58,837 | | 94,139 |
James L. Robo | | 13,460 | | 1/1/06-12/31/08 | | 13,460 | | 21,536 |
Moray P. Dewhurst | | 13,127 | | 1/1/06-12/31/08 | | 13,127 | | 21,003 |
Armando J. Olivera | | 13,460 | | 1/1/06-12/31/08 | | 13,460 | | 21,536 |
John A. Stall* | | 10,324 | | 1/1/06-12/31/08 | | 10,324 | | 16,518 |
The performance share awards in the preceding table are, under normal circumstances, payable at the end of the performance period indicated. The amount of the payout is determined by multiplying the participant's target number of shares by his average level of attainment, expressed as a percentage, which may not exceed 160%, of his targeted awards under the Annual Incentive Plans for each of the years encompassed by the award period. A description of the 2006 Annual Incentive Plan performance indicators is included in the Current Report on Form 8-K filed by the Company on December 21, 2005. The six other executive officers of the Company were granted an aggregate of 24,661 performance share awards at target, with a maximum aggregate payout to such executive officers of 39,457 performance share awards, with the same performance period as set forth in the table above.
*Mr. Stall is expected to be a "named executive officer" for purposes of the Company's proxy statement for its annual meeting to be held in 2006.
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 thereunto duly authorized.
FPL GROUP, INC.
FLORIDA POWER & LIGHT COMPANY
(Registrants)
Date: January 5, 2006
EDWARD F. TANCER |
|
Edward F. Tancer
Vice President & General Counsel of FPL Group, Inc.
Senior Vice President & General Counsel
of Florida Power & Light Company |
