Summary
Dominion Energy, Inc. (D) filed an 8-K on January 27, 2005, reporting two key events. Firstly, the company amended and restated its Security Option Plan to freeze participation and benefits as of December 31, 2004. This action was taken to comply with new deferred compensation regulations introduced by the American Jobs Creation Act of 2004 and Section 409A of the Internal Revenue Code. The plan will continue to govern amounts already deferred or vested before the freeze. Secondly, Dominion released its unaudited earnings for the fiscal year ended December 31, 2004, on January 27, 2005. This information was furnished as an exhibit to the 8-K filing. Investors should note that these earnings are preliminary and unaudited, and the press release containing these results is available as Exhibit 99.
Key Highlights
- 1Dominion Resources, Inc. Security Option Plan was amended and restated.
- 2Participation and benefits in the Security Option Plan were frozen effective after December 31, 2004.
- 3The amendment is to comply with new deferred compensation requirements from the American Jobs Creation Act of 2004 and Section 409A of the Internal Revenue Code.
- 4The Plan will still apply to amounts deferred and/or vested prior to January 1, 2005.
- 5Dominion issued a press release on January 27, 2005, announcing unaudited earnings for the year ended December 31, 2004.
- 6The press release and preliminary earnings tables are furnished as an exhibit to the 8-K.
- 7The filing includes the amended Security Option Plan and the January 27, 2005 press release as exhibits.