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This excerpt taken from the USU DEF 14A filed Mar 24, 2006. Long-Term
Incentives
Senior executive officers of the Company, including the Named
Executive Officers, are eligible to participate in the
Company’s restricted stock unit program under the USEC Inc.
1999 Equity Incentive Plan. The restricted stock unit program is
a three-year, performance-based program that is described in
more detail in the report of the Compensation Committee on
Executive Compensation later in this Proxy Statement.
A restricted stock unit (RSU) is the right to receive, after the
restriction period expires and subject to the achievement of
certain goals, cash or stock equal in value to one share of
common stock. Dividend equivalents accrue on the RSUs (to the
extent the Company pays dividends) and are payable at the end of
the performance period, again subject to the achievement of
goals. The Compensation Committee creates the performance goals
for the RSUs and will decide, at the end of the three-year
performance period, to what extent the goals have been met.
Award values will increase or decrease based on performance
against the goals, stock price performance and dividend
equivalent accruals.
The following table sets forth the long-term incentive awards in
2005 to the Named Executive Officers.
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