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This excerpt taken from the PCG 10-K filed Feb 24, 2009. PG&E Corporation Phantom Stock
Fund converts contributions and transferred amounts into units of phantom
common stock valued at the closing price of a share of PG&E Corporation
common stock on the contribution/transfer date. If the transfer
request is received after the market closes, the following day’s closing price
will be used. Thereafter, the value of a unit shall fluctuate
depending on the price of PG&E Corporation common stock. Each
time a dividend is paid on common stock, an amount equal to such dividend shall
be credited to the account as additional units.
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