Summary
This 8-K filing from FPL Group, Inc. (now known as NextEra Energy, Inc. under the ticker NEE) on March 20, 2007, primarily announces a change in its board of directors. Specifically, Oliver D. Kingsley, Jr. was elected to the Board on March 16, 2007. As a new director, Mr. Kingsley received an award of 400 shares of FPL Group common stock under the company's Non-Employee Directors Stock Plan. These shares are subject to specific vesting and transfer restrictions, requiring him to remain on the Board for five years to avoid forfeiture, unless separated due to death or disability. No committee assignments for Mr. Kingsley were disclosed at the time of the filing.
Key Highlights
- 1Oliver D. Kingsley, Jr. elected to the FPL Group, Inc. Board of Directors effective March 16, 2007.
- 2Mr. Kingsley received an award of 400 shares of FPL Group common stock.
- 3The stock award is part of the FPL Group, Inc. Amended and Restated Non-Employee Directors Stock Plan.
- 4Awarded shares are subject to transfer restrictions and forfeiture conditions.
- 5Shares are not transferable until Mr. Kingsley ceases to be a Board member.
- 6Shares are subject to forfeiture if Mr. Kingsley leaves the Board within five years of election, excluding death or disability.
- 7As of the filing date, no committee assignments were designated for the new director.