Effective July 3, 2012, Duke Energy and Progress Energy merged. Immediately prior to completion of the merger, Duke Energy conducted a 1-for-3 reverse stock split. Details of the merger can be found within the below Notice of Special Meeting and Joint Proxy Statement.
- Notice of Special Meeting/Joint Proxy Statement (pdf, 3,360 KB)
Duke Energy Shareholders
If your shares were held electronically at the time of the merger, either as part of the Duke Energy InvestorDirect Choice Plan, through the Direct Registration System (DRS) or through a stockbroker, your account was automatically adjusted for the 1-for-3 reverse stock split. You would have received a statement by mail upon completion.
If you held physical stock certificates representing your shares prior to the reverse stock split, you were required to complete and return the Transmittal Form, together with your stock certificates to Duke Energy Corporation for exchange. A Transmittal Form was mailed to stock certificate holders within five business days of the merger closing. See the FAQ document for clarification on the 1-for-3 reverse stock split as well as instructions on returning your stock certificates.
- Letter of Transmittal (pdf, 100 KB)
- FAQs (pdf, 125 KB)
- Tax Consequences (pdf, 28 KB)
Legacy Progress Energy Shareholders
If your Progress Energy shares were held electronically at the time of the merger, either as part of the Progress Energy DRIP, through the Direct Registration System (DRS), or through a stockbroker, there was no action you needed to take in order to receive your entitled Duke Energy shares. You would have received a statement by mail once your account had been credited with the shares.
If you held stock certificates representing your shares in Progress Energy, you were notified by Computershare, our initial exchange agent, and a Transmittal Form was mailed to you within five business days of the merger closing. Effective April 1, 2013, Duke Energy became exchange agent for all Legacy Progress Energy stock certificate holders. Therefore, if you still need to exchange your Progress Energy stock certificates, you will need to complete and return the Progress Energy Transmittal Form, together with your Progress Energy stock certificates to Duke Energy.
- Progress Energy Letter of Transmittal (pdf, 193 KB)
- Progress Exchange FAQs
- Tax Consequences (pdf, 28 KB)
