Summary
This 8-K filing from Edison International (EIX) on January 5, 2005, primarily reports on a decision made by the Board of Directors regarding compensation for its non-employee directors. Specifically, the board authorized the deferral of dividend equivalents on stock options awarded in 2005. This measure affects both Edison International and its subsidiary, Southern California Edison Company. The dividend equivalents are to be deferred under the Edison International Director Deferred Compensation Plan. While this is a procedural update concerning director compensation, investors should note that it does not represent a change in the company's financial performance, operational status, or dividend policy for common shareholders. The deferral pertains specifically to the treatment of dividend equivalents for non-employee directors' stock options.
Key Highlights
- 1Edison International's Board of Directors authorized a deferral of dividend equivalents on stock options for non-employee directors.
- 2The stock options affected were awarded in 2005.
- 3This policy applies to directors of Edison International and its subsidiary, Southern California Edison Company.
- 4The deferral will be managed under the Edison International Director Deferred Compensation Plan.
- 5This filing is an update on director compensation policy, not a change in operational or financial performance.