SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
CHRISTIAN RONALD E
(Last) (First) (Middle)
20 N. W. FOURTH STREET
(Street)
EVANSVILLE IN 47741
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
VECTREN CORP [ VVC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Exec. V.P., General Counsel
3. Date of Earliest Transaction (Month/Day/Year)
12/31/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/31/2003 J(1) 7,390 D $0 16,701.33 D
Common Stock 12/31/2003 A(2) 1,032 A $0 17,733.33 D
Common Stock 01/01/2004 A(3) 11,000 A $0 28,733.33 D
Common Stock 3,837.1 I 401K Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to buy) $0 01/01/2004 A 18,000 01/01/2004(4) 01/01/2014 Common Stock 11,000 $24.74 18,000 D
Phantom Stock $0 12/31/2003 J(5) 7,390 08/08/1988(6) 08/08/1988(6) Common Stock 7,390 $0 35,868.786 D
Explanation of Responses:
1. The reporting person elected to defer the value of restricted stock vesting in 2003 to the Vectren Corporation Non-Qualified Deferred Compensation Plan, resulting in the disposition of shares of restricted stock previously reported as beneficially owned.
2. This acquisition represents the performance grant relating to the second performance cycle of the October 2000 grant under the Vectren Corporation Restricted Stock Plan. This grant is exempt under Section 16b-3 and was previously approved by the Board of Directors. This grant is subject to forfeiture under the Plan.
3. The common stock was acquired pursuant to the Vectren Corporation At-Risk Compensation Plan and is subject to forfeiture as provided by that plan and the grant agreement. The lifting of restrictions and the forfeitability provisions is dependent upon performance during a measuring period from January 1, 2004 through December 31, 2006 and continued employment until December 31, 2007. The board of directors approved the acquisition in accordance with Rule 16b-3(d).
4. Stock options granted under the Vectren Corporation At-Risk Compensation Plan in a transaction exempt under Rule 16b-3. The options vest in three installments on January 1, 2005, January 1, 2006 and January 1, 2007.
5. The reporting person elected to defer the value of restricted stock vesting in 2003 in the Vectren Corporation Non-Qualified Deferred Compensation Plan resulting in the acquisition of phantom stock.
6. Phantom stock units held under the non-qualified deferred compensation plan will effectively be exercised at the time the amounts represented by these units are paid out under the Plan. Generally, unless provided otherwise by the participant, the payout begins with the end of the officer's employment with the Company or one of its participating subsidiaries. Pursuant to the non-qualified deferred compensation plan, payouts can occur for up to 15 years. Amounts held in the phantom stock accounts would be amortized over that period unless directed otherwise by the participant. Pursuant to written commentary by the SEC staff, the date of 08/08/1988 is shown as the exercise and expiration dates.
Ronald E Christian 01/05/2004
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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