Procter & Gamble Company 8-K 2009
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act Of 1934
On February 10, 2009, the Compensation & Leadership Development Committee (the “Committee”) of the Board of Directors of The Procter & Gamble Company (“P&G”) granted A.G. Lafley, Chairman of the Board and Chief Executive Officer, a special equity award of $3,500,000 in recognition of Mr. Lafley’s foresight for initiating the acquisition of The Gillette Company (“Gillette”) and his leadership throughout the acquisition and integration processes. The acquisition and integration of Gillette was the largest and most successful in the Company’s history. Through this grant, the Committee rewards Mr. Lafley’s strategic vision to combine two world-class consumer products companies into the largest consumer products company in the world, his understanding of the transaction’s benefits for shareholders and his successful leadership through the complexities of integrating Gillette into P&G.
The grant will be made in the form of restricted stock units granted under the Company’s 2001 Stock and Incentive Compensation Plan using the closing price for the Company’s Common Stock on the New York Stock Exchange on February 27, 2009.
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.
BY: /s/ E. J. WUNSCH
E. J. Wunsch
February 17, 2009