PUGET ENERGY INC /WA 4

4 · PUGET ENERGY INC /WA · Filed Feb 14, 2005

Form 4

Period: 2005-02-10

EVP and CFO

Transactions

Exercise/Conversion
LTIP
[F1]
2005-02-10$24.12/sh−3,622$87,363→ 0 total
Exercise: $0.00From: 2004-12-31Exp: 2004-12-31→ Common (3,622 underlying)
Award
LTIP
[F2]
2005-02-10$24.12/sh+13,799$332,832→ 13,799 total
Exercise: $0.00From: 2007-12-31Exp: 2007-12-31→ Common (13,799 underlying)
Exercise/Conversion
PSE Deferred Compensation Plan
[F3][F4][F5]
2005-02-10$24.12/sh+1,087$26,218→ 5,205 total
Exercise: $0.00→ Common (1,087 underlying)

Holdings

Common
66
Common
(indirect: By Brokerage Account)
6,000
LTIP
[F1]
Exercise: $0.00From: 2005-12-31Exp: 2005-12-31→ Common (6,601 underlying)
6,601
LTIP
[F1]
Exercise: $0.00From: 2006-12-31Exp: 2006-12-31→ Common (15,336 underlying)
15,336
LTIP - 3 year cycle
[F6]
Exercise: $0.00From: 2006-12-31Exp: 2006-12-31→ Common (14,694 underlying)
14,694

Footnotes (6)

[F1]LTIP share grants under the Puget Energy Long-Term Incentive Plan for Officers and Key Employees. LTIP Shares are paid in Puget Energy stock when vested in an amount ranging from zero to 175% of LTIP Share Grants.
[F2]LTIP share grants under the Puget Energy Long-Term Incentive Plan for Officers and Key Employees. LTIP Shares are paid in stock (or up to 50% in cash) when vested in an amount ranging from zero to 155.5% of LTIP Share Grants.
[F3]The reporting person elected to defer receipt of 1,087 shares of common stock issuable upon exercise of his LTIP, resulting in the accrual to his account of 1,087 shares of phantom stock.
[F4]One common share will be received for each stock unit.
[F5]Phantom share units deferred in the Puget Sound Energy Deferred Compensation Plan.
[F6]LTIP share grants under the Puget Energy Long-Term Incentive Plan for Officers and Key Employees. LTIP Shares are paid in stock when vested in an amount ranging from zero to 192.5% of LTIP Share Grants.

Signature

By: /s/ James W. Eldredge|2005-02-14

Documents

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