Progress Energy 2008 Annual Report Download - page 179

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Progress Energy Proxy Statement
43
24 Includes performance share amortization of $511,619, consisting of $51,410 for the 2006 annual grant, $172,652 for the
2007 2-year transitional grant, $175,791 for the 2007 annual grant, and $111,766 for the 2008 annual grant. Also includes restricted
stock amortization of $404,183.
25 Includes changes in present value of the accrued benefit during 2008 for the following plans: Progress Energy Pension
Plan: $17,483; and the SERP: $789,997, primarily due to increase in average monthly eligible pay over the past 36 months. Mr. Yates
became vested in the SERP on December 1, 2008, which attributed to his increase for the year. Accumulated Restoration Plan benefit
of $29,498 was forfeited upon vesting in the SERP.
26 Consists of (i) $19,875 in Company contributions under the Progress Energy 401(k) Savings & Stock Ownership Plan;
(ii) $982 in dollar value of premiums related to the Executive Permanent Life Insurance program based on 1 year until the policy
splits or terminates and the total policy premium of $10,615; (iii) $15,819 in deferred compensation credits pursuant to the terms of
the Management Deferred Compensation Plan; (iv) $31,681 in gross-up payments for certain federal and state income tax obligations;
(v) $64,807 in Restricted Stock/Unit Dividends; and (vi) $21,877 in perquisites consisting of the following: auto allowance, $4,362;
financial/estate/tax planning, $10,000; and personal use of Company aircraft, $2,153. Other perquisites include luncheon club
membership, health club dues, home security, Internet and telecom access, tickets to sporting and cultural arts events, executive
physical and AD&D insurance.