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This excerpt taken from the PCG DEF 14A filed Mar 14, 2006. How much stock-based compensation did directors receive during 2005? During 2005, non-employee directors received the following stock-based compensation under the PG&E Corporation Long-Term Incentive Program, which expired on December 31, 2005, and was replaced by its successor, the PG&E Corporation 2006 Long-Term Incentive Plan. On January 3, 2005, each non-employee director received 908 restricted shares of PG&E Corporation common stock. In addition, directors who were granted stock options received options to purchase 814 shares of PG&E Corporation common stock for each $5,000 increment of value (subject to a $30,000 limit) at an exercise price of $33.02 per share, and directors who were granted common stock equivalents received 151 common stock equivalent units for each $5,000 increment of value (subject to a $30,000 limit). |
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