Form 8-K February 8, 2006
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934




Date of Report: February 8, 2006    
(Date of earliest event reported)



Commission
File Number
Registrant; State of Incorporation
Address; and Telephone Number
IRS Employer
Identification No.
     
1-11337
WPS RESOURCES CORPORATION
(A Wisconsin Corporation)
700 North Adams Street
P. O. Box 19001
Green Bay, WI 54307-9001
(920) 433-4901
39-1775292
     
1-3016
WISCONSIN PUBLIC SERVICE CORPORATION
(A Wisconsin Corporation)
700 North Adams Street
P. O. Box 19001
Green Bay, WI 54307-9001
(800) 450-7260
39-0715160

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 
Item 1.01. Entry into a Material Definitive Agreement
 
On February 8, 2006, the Compensation Committee of the Board of Directors approved the WPS Resources Corporation/Wisconsin Public Service Corporation 2006 Executive Incentive Plan and its incentive award targets for 2006 for the executive officers of WPS Resources and its subsidiaries. Cash payouts may be earned on the basis of meeting net income and various other operational performance goals related to system reliability, safety, customer value, customer rates and diversity. The threshold, target and maximum annual cash bonus that may be earned in 2006 for the WPS Resources Chief Executive Officer is 50%, 100% and 150%, respectively. The threshold, target and maximum annual cash bonus that may be earned in 2006 for other executive officers range from 15-25%, 25-65% and 40-100%, respectively, of base salary.



 

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SIGNATURES
 
 
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.
 
 
WPS RESOURCES CORPORATION
 
 
 
By: /s/ Joseph P. O'Leary        
Joseph P. O'Leary
Senior Vice President
and Chief Financial Officer
 
 
Date: February 13, 2006


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SIGNATURES
 
 
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.
 
 
WISCONSIN PUBLIC SERVICE CORPORATION
 
 
 
By:  /s/ Joseph P. O'Leary        
Joseph P. O'Leary
Senior Vice President
and Chief Financial Officer
 
 
Date: February 13, 2006

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