Windstream 2006 Annual Report Download - page 5

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WINDSTREAM CORPORATION
4001 Rodney Parham Road
Little Rock, Arkansas 72212
Telephone: (501) 748-7000
www.windstream.com
PROXY STATEMENT
This proxy statement is furnished in connection with the solicitation of proxies by the Board of Directors
of Windstream Corporation (“Windstream”) to be used at its 2007 Annual Meeting of Stockholders. The meeting
will be held at the Wally Allen Ballroom at the Statehouse Convention Center at No. 1 Statehouse Plaza,
Markham and Main Streets, Little Rock, Arkansas 72201 on Wednesday, May 9, 2007 at 11:00 a.m. (local time).
TABLE OF CONTENTS
Page No.
Proxy Statement ...............................................................1
Voting Information ............................................................2
Alltel Spin-Off and Valor Merger .................................................3
Proposal No. 1 - Election of Directors ..............................................3
Board and Board Committee Matters ..............................................5
Stock Ownership Guidelines .....................................................7
Security Ownership of Directors and Executive Officers ...............................8
Security Ownership of Certain Beneficial Owners ....................................9
Compensation Committee Report on Executive Compensation ..........................10
Audit Committee Report ........................................................11
Management Compensation .....................................................12
Compensation Discussion and Analysis ......................................12
Compensation of Directors ................................................20
Compensation of Named Executive Officers ..................................22
Information on Plan-Based Awards ..........................................25
Pension Benefits ........................................................27
Non-Qualified Deferred Compensation .......................................29
Potential Payments Upon Termination or Change-in-Control .....................32
Company Proposals ............................................................39
Proposal No. 2 - Approval of Windstream Performance Incentive Compensation
Plan ................................................................39
Proposal No. 3 - Ratification of Appointment of Independent Auditors ..............43
Stockholder Proposal ...........................................................43
Proposal No. 4 -Required Equity Awards To Be Held ...........................43
Stockholder Proposals for 2008 Annual Meeting .....................................45
Certain Transactions ...........................................................45
Section 16(a) Beneficial Ownership Reporting Compliance .............................46
Annual Report ................................................................46
Audit and Non-Audit Fees .......................................................47
Change in Windstream’s Registered Public Accountant ................................47
Other Matters .................................................................48
Appendix A – Performance Incentive Compensation Plan ..............................A-1