RICE STEVEN H 4
4 · ALLEGHENY ENERGY, INC · Filed Sep 30, 2009
Insider Transaction Report
Form 4
RICE STEVEN H
Director
Transactions
- Award
Phantom Stock
2009-09-28+19.973→ 2,528.485 total→ Common Stock (19.973 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 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 amounts 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.