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You are entitled to vote if you were a shareholder at the close of business on March 18, To make it easier for you to vote your proxy, we have made Internet and telephone voting available. You will find instructions on the enclosed proxy card. If you choose not to use the Internet or telephone voting, please sign and date the proxy card and return it in the envelope provided.
If your shares are registered in the name of a brokerage firm or trustee and you plan to attend the meeting in person, please bring a letter, account statement or other evidence of your beneficial ownership to the meeting.
Who are the nominees? Who are the other directors? Section 16 a Beneficial Ownership Reporting Compliance. Regardless of the number of shares you own, please vote your proxy either through Internet, telephone or complete and promptly return the enclosed proxy form, using the envelope we have provided. Puget Energy to be held at We will mail this proxy statement and our Annual Report for to shareholders on April 5, BoxBellevue, Washington Puget Energy is a holding company.
All its operations are conducted through its subsidiaries. In addition to Puget Sound Energy, Inc. Unless otherwise specified, all historical information in this proxy statement concerning dates prior to January 1, refers to Puget Sound Energy rather than Puget Energy. Only holders of common stock may vote at the Annual Meeting. Approximately 87 million shares of common stock will be outstanding as of March 18,the record date for the Annual Meeting.
Puget Energy will have approximately 48, shareholders of record as of the record date. You are being asked to elect five directors. We are not aware of any matter to be presented for action at the Annual Meeting other than the election of directors. The holders of a majority of the shares of the common turbine xo review 94 accuracy and 100 itm rate is this possible!, present in person or by proxy at the Annual Meeting, constitute a quorum for the transaction of business.
There must be a quorum for the meeting to be held. You are entitled to one vote for each share of common stock you held on the record date. For the election of directors, you may not vote more shares for individual directors than the total number of shares you held on the record date.
If a quorum is present at the Annual Meeting, the five nominees for election as directors who receive the greatest number of votes cast by the shares present in person or represented by proxy at the Annual Meeting will be elected directors. Can brokers vote on the election of directors? Because brokers have discretion to vote shares they hold on behalf of beneficial owners for the election of directors, if they do not receive instructions, they may vote the shares as they see fit.
If we receive a proper proxy, your shares will be voted as you direct. If you do not provide any direction on your proxy card, your shares will be voted as the Board of Directors recommends. You may revoke a proxy card at any time before it is voted by delivering a written notice to the Corporate Secretary or by signing and delivering another proxy card that is dated later.
If you attend the Annual Meeting in person, you may revoke the proxy by giving notice of revocation to an inspector of election at the Annual Meeting or by voting at the Annual Meeting.
No one will disclose the identity and vote of any shareholder unless legally required to do so. How many directors does Puget Energy have?
The number of directors is determined by the Board of Directors, but may be changed by the shareholders. The Board of Directors has fixed the current number of directors at ten. How many directors are elected each year?
The directors are divided into three classes so that each year approximately one-third of the directors is elected for a three-year term. Directors are elected to hold office until their successors are elected and qualified, or until resignation or removal in the manner provided in our Bylaws.
At the Annual Meeting, the shareholders will elect three Class II directors to serve for a term of three years expiring on turbine xo review 94 accuracy and 100 itm rate is this possible! date of the Annual Meeting. In addition, the shareholders will elect two Class I directors to serve the remaining term for Class I directors.
Proxies will be voted on the following nominees. If any nominee becomes unavailable to serve as a director, the persons named in the enclosed proxy can vote for or against any other nominee in accordance with their judgment. Reynolds, age 54, also serves as a director of Oregon Steel Mills, Inc. He was named president of University of Hawaii in Prior to that, he served as president of Western Washington University from to and is President Emeritus of that institutionand he served as Vice President and Vice Provost of Pennsylvania State University from to Mortimer holds a Ph.
Bingham served as Executive Vice President of Weyerhaeuser Company forest products industry from until his retirement in July Bingham, age 68, also serves as a director of the Evergreen Forest Trust. Dryden, age 68, also is a director emeritus of U. Narodick is President of Narodick Consulting, which specializes in strategic planning for the educational technology industry. She also serves as a director of Penford Corporation, click2learn, Inc. Narodick, age 56, has been a Director of Puget Energy since its incorporation in and of Puget Sound Energy since The directors who are not standing for reelection at this time are:.
Beighle served as Senior Vice President of The Boeing Company aerospace manufacturing and sales from until his retirement on May 1, He served as Lead Director from April to March He also serves as a director of Washington Mutual, Inc. Cole, age 52, is also a member of the Washington Roundtable and serves on the boards of Associated Grocers, Inc.
Previously, he served as President of Uwajimaya, Inc. Moriguchi, age 65, has been a Director of Puget Energy since its incorporation in and of Puget Sound Energy since Campbell has been Chair of the Community Board of U.
Bank, Washington since Prior to that, she was President of U. Bank, Washington financial institution from to She also served as Area President of U. Campbell, age 50, has been a Director of Puget Energy since its incorporation in and of Puget Sound Energy since Durbin, age 66, has been a Director of Puget Energy since its incorporation in and of Puget Sound Energy since The membership of these committees and a brief statement of their principal responsibilities are presented below.
Beighle ChairCharles W. Bingham, Tomio Moriguchi and Dr. The Audit Committees meet with management, the internal auditors and the independent auditors to review and evaluate the companies' audited financial statements, the internal audit function and external audit matters. The Audit Committees recommend to the full Boards the retention of independent auditors. The Audit Committees, which until May were comprised of Mr. Moriguchi, met four times during Durbin ChairPhyllis J. Cole and Tomio Moriguchi.
The Director Affairs Committees act and make recommendations regarding selection of director candidates, director tenure, committee assignments and director turbine xo review 94 accuracy and 100 itm rate is this possible!.
Shareholders may nominate candidates for election to the Puget Energy Board of Directors by notifying the Corporate Secretary prior to each annual meeting.
The committees seek director candidates with recognized achievements and skills and experience that will enhance the Boards of Directors. Durbin, met two times during turbine xo review 94 accuracy and 100 itm rate is this possible! Compensation and Retirement Committee. Campbell ChairDouglas P.
Mortimer and Sally G. The Compensation and Retirement Committees act and make recommendations to the Boards of Directors with respect to executive compensation, the retirement plan and other benefit plans for employees. Narodick, met six times during Cole ChairDouglas P. The Strategic Opportunities Committees act and make recommendations to the Boards of Directors with respect to new business development matters.
Narodick, met three times during The Puget Energy Board of Directors met eight times during No director who serves on both the Puget Energy and Puget Sound Energy Boards and the corresponding committees is paid additional compensation for concurrent service.
The Audit Committees operate under a written charter approved by the Boards of Directors in The purpose of the Audit Committees is to assist the Boards of Directors of Puget Energy and Puget Sound Energy in their general turbine xo review 94 accuracy and 100 itm rate is this possible!
of their respective companies. The primary responsibilities of the Turbine xo review 94 accuracy and 100 itm rate is this possible! Committees are to review and evaluate audited financial statements and to monitor and oversee Puget Energy's and Puget Sound Energy's internal control systems, their accounting and financial reporting processes, their independent audit function and their compliance with applicable laws and regulations.
The respective managements of Puget Energy and Puget Sound Energy are responsible for the preparation, presentation and integrity of their respective companies' financial statements, accounting and financial reporting principles, internal controls and procedures designed to assure compliance with accounting standards, applicable laws and regulations. PricewaterhouseCoopers LLP is responsible for performing an independent audit of the financial statements of Puget Energy and Puget Sound Energy in accordance with generally accepted auditing standards.
The members of the Audit Committees are not professional accountants or auditors, and are not responsible for conducting reviews of auditing or accounting procedures, nor can the Audit Committees certify that PricewaterhouseCoopers LLP is "independent" under applicable rules. The Audit Committees serve a board-level oversight role in which they provide advice, counsel and direction to management and the independent auditors on the basis of the information they receive, discussions with the independent auditors and the experience of the Audit Committees' members in business, financial, and accounting matters.
Based upon the Audit Committees' discussions with management and the independent accountants and their review of the representations of management and the report of PricewaterhouseCoopers LLP to the Audit Committees, the Audit Committees recommended to the Boards of Directors that the audited financial statements be included in the Annual Report on Form K for the fiscal year ended December 31, for filing with the Securities and Exchange Commission.
These fees were billed to Puget Sound Energy and relate to Puget Sound Energy's successful implementation of its ConsumerLinX customer information system inon which PricewaterhouseCoopers' management consulting services group provided system integration services to Puget Sound Energy.