RICE STEVEN H 4
4 · ALLEGHENY ENERGY, INC · Filed Mar 24, 2010
Insider Transaction Report
Form 4
RICE STEVEN H
Director
Transactions
- Award
Phantom Stock
2010-03-22+16.228→ 2,560.848 total→ Common Stock (16.228 underlying)
Footnotes (2)
- [F1]Under the Issuer's Revised Plan for Deferral of Compensation of Directors, non-employee members of the Issuer's Board of Directors (the "Board") may elect to defer receipt of all or a part of the cash portion of the director fees to which they become entitled in connection with their service on the Board and may opt to invest all or a portion of any such deferred amounts into a phantom stock fund maintained by the Issuer. Mr. Rice elected in the past to defer receipt of all of the cash portion of the fees payable to him and to invest such deferred amounts in the Issuer's phantom stock fund. Dividends on such deferred amoujnts are paid in additional units of phantom stock.
- [F2]Each unit of phantom stock is the economic equivalent of one share of Common Stock. The units of phantom stock are payable in cash upon the termination of Mr. Rice's service on the Board.