Progress Energy 2010 Annual Report Download - page 212

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PROXY STATEMENT
74
NON-EMPLOYEE DIRECTOR STOCK UNIT PLAN
Effective January 1, 1998, we established the Non-Employee Director Stock Unit Plan (“Stock Unit
Plan”). The Stock Unit Plan provides for an annual grant of stock units equivalent to $60,000 to each non-employee
Director. Each unit is equal in economic value to one share of the Company’s Common Stock, but does not represent
an equity interest or entitle its holder to vote. The number of units is adjusted from time to time to reflect the
payment of dividends with respect to the Common Stock of the Company. Effective January 1, 2007, a Director
shall be fully vested at all times in the stock units credited to his or her account.
OTHER COMPENSATION
Directors are eligible to receive certain perquisites, including tickets to various cultural arts and sporting
events, which are de minimis in value. Each retiring Director also receives a gift valued at approximately $1,500 in
appreciation for his/her service on the Board.
We charge Directors with imputed income in connection with (i) their travel on Company aircraft for non-
Company related purposes and (ii) their spouses’ travel on Company aircraft.