Florida Public Utilities Company 8-K 2005
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): March 1, 2005
(Exact Name of Registrant as Specified in Charter)
Registrant's telephone number, including area code:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement
Incentive Compensation for Executives. On March 1, 2005, the Compensation Committee (the Committee) of the Board of Directors of Florida Public Utilities Company (the Company) authorized the payment of cash incentive compensation to the executive officers to be named in the Companys 2005 proxy statement (the Named Executive Officers) in respect of the year ended December 31, 2004. The awards were determined based substantially on the Companys and each executives performance as measured against performance goals established earlier in 2004. The Committee approved the following awards for the Named Executive Officers:
John T. English,
President and Chief Executive Officer
Charles L. Stein,
Senior vice President and Chief Operating Officer
George M. Bachman
Chief Financial Officer & Treasurer
Each of the above Named Executive Officers is an employee at will. The Committee will adjust their base salary compensation from time to time as the Committee deems appropriate, generally annually.
Item 2.02. Results of Operations and Financial Condition
On March 18, 2005, the Company issued a press release reporting results of operations of the Company for the year and quarter ended December 31, 2004. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
_Florida Public Utilities Company__
Date: _March 18, 2005_____
By: _/s/ George M. Bachman ____
Name: George M. Bachman
Title: CFO, Treasurer & Corporate Secretary
INDEX TO EXHIBITS
Press release issued March 18, 2005.