8-KEarnings & ResultsLeadership ChangesOther Events+1

AMEREN CORP 8-K Report, Financial Results (Feb 15, 2007)

Filed February 15, 2007For Securities:AEE

Summary

Ameren Corporation filed an 8-K on February 15, 2007, primarily to disclose its fourth quarter and full-year 2006 financial results and to detail executive compensation plans for 2007. The company announced its earnings for the period ending December 31, 2006, with detailed financial statements (Statement of Income, Cash Flows, and Balance Sheet) for 2006 and 2005 included as an exhibit. Investors can review these financial statements for a performance overview of the company. Additionally, the filing outlines the establishment of the 2007 Ameren Executive Incentive Plan (EIP) and the issuance of performance share unit awards under the 2006 Omnibus Incentive Compensation Plan to Named Executive Officers. These plans link executive bonuses and stock awards to corporate performance metrics like Earnings Per Share (EPS) and Total Shareholder Return (TSR) over specific periods, with payouts adjustable based on business unit and individual performance. The report also notes the resignation of a director, Richard A. Lumpkin, effective April 24, 2007, due to the company's retirement age policy.

Key Highlights

  • 1Ameren Corp announced its financial results for the fourth quarter and full fiscal year ended December 31, 2006, via a press release filed on February 15, 2007.
  • 2Key unaudited consolidated financial statements for the periods ending December 31, 2006, and December 31, 2005, including Income Statements, Cash Flow Statements, and Balance Sheets, are incorporated by reference.
  • 3The company established the 2007 Ameren Executive Incentive Plan (2007 EIP) to provide cash bonus awards to Named Executive Officers based on 2007 corporate results and performance.
  • 4Executive bonus opportunities under the 2007 EIP are targeted as a percentage of base salary (e.g., 90% for Rainwater, 60% for Baxter and Voss) and are dependent on 2007 EPS achievement.
  • 5A portion of the 2007 EIP awards is subject to downward adjustment based on individual executive and business unit performance.
  • 6Performance share unit awards for 2007 were authorized for Named Executive Officers under the 2006 Omnibus Incentive Compensation Plan, tied to a three-year Total Shareholder Return (TSR) relative to a utility peer group.
  • 7Director Richard A. Lumpkin's resignation from the Board of Directors, effective April 24, 2007, was accepted in accordance with the company's director retirement age policy.

Frequently Asked Questions

Ameren Corporation filed this 8-K to announce its earnings for the fourth quarter and fiscal year ended December 31, 2006. The press release and attached financial statements provide details on the company's performance for these periods, including its Statement of Income, Statement of Cash Flows, and Balance Sheet as of December 31, 2006, and comparative periods.

The company has established the 2007 Ameren Executive Incentive Plan (EIP) for cash bonuses and has authorized performance share unit awards under the 2006 Omnibus Incentive Compensation Plan. Both plans link executive compensation to company performance. The 2007 EIP targets are set as a percentage of base salary, dependent on 2007 EPS achievement and subject to adjustments for individual and business unit performance. The performance share units are tied to a three-year Total Shareholder Return (TSR) relative to peers.

For the 2007 Executive Incentive Plan (EIP), a primary performance metric is the company's Earnings Per Share (EPS) achievement for 2007. For the performance share units, the key metric is Ameren's three-year Total Shareholder Return (TSR) compared to a utility peer group.

Yes, the filing reports that Richard A. Lumpkin, an Ameren director, offered his resignation from the Board of Directors, effective April 24, 2007, at the end of his term. This resignation was accepted by the Board in accordance with Ameren's Corporate Governance Policy regarding director retirement age.