Progress Energy 2008 Annual Report Download - page 181

Progress Energy Proxy Statement
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1 The Management Incentive Compensation Plan is considered a non-equity incentive compensation plan. Award amounts
are shown at threshold, target, and maximum levels. The target award is calculated using the 2008 eligible earnings times the
executive’s target percentage. See target percentage in table on page 24 of the CD&A. Threshold is calculated at 50% of target and
maximum is calculated at 200% of target. Actual award amounts paid are reflected in the Summary of Compensation Table under the
“Non-Equity Incentive Plan Compensation” column.
2 Reflects the potential payouts in shares of the 2008 PSSP grants. The grant size was calculated by multiplying the
executive’s salary as of January 1, 2008, times his 2008 PSSP target and dividing by the December 31, 2007, closing stock price of
$48.43. The Threshold column reflects the minimum payment level under our PSSP, which is 50% of the target amount shown in the
Target column. The amount shown in the maximum column is 200% of the target amount.
3 Reflects the number of restricted stock units granted during 2008 under the 2007 Equity Incentive Plan. The number of
shares granted was determined by multiplying the executive’s salary as of January 1, 2008, times his 2008 restricted stock target and
dividing by the December 31, 2007, closing stock price of $48.43.
4 We ceased granting stock options in 2004.
5 Reflects the grant date fair value of the award based on the following assumptions: Market value of restricted stock granted
on March 18, 2008, based on closing price of $42.41 per share, times the shares granted in column (i). Market value of PSSP granted
on March 18, 2008, based on closing stock price on March 18, 2008, of $42.41 times target number of shares in column (g).