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*
BORGARD LAWRENCE T

(Last) (First) (Middle)
700 NORTH ADAMS STREET
P. O. BOX 19001

(Street)
GREEN BAY WI 54307-9001

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
INTEGRYS ENERGY GROUP, INC. [ TEG ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Vice Chrmn Brd & CEO-PGL,a sub
3. Date of Earliest Transaction (Month/Day/Year)
05/20/2008
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 05/20/2008 F 617 D $50.97 7,270.784(1) D
Common Stock 2,948.8536 I By ESOP
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
Employee Stock Option (Right to buy) $34.09(2) 12/13/2002 12/13/2011 Common Stock 3,148 3,148 D
Employee Stock Option (Right to buy) $37.96(3) 12/12/2003 12/12/2012 Common Stock 6,284 6,284 D
Employee Stock Option (Right to buy) $44.73(4) 12/10/2004 12/10/2013 Common Stock 6,235 6,235 D
Employee Stock Option (Right to buy) $48.11(5) 12/08/2005 12/08/2014 Common Stock 11,786 11,786 D
Employee Stock Option (Right to buy) $48.36(6) 02/14/2009 02/14/2018 Common Stock 30,184 30,184 D
Employee Stock Option (Right to buy) $52.73(7) 12/07/2007 12/07/2016 Common Stock 11,304 11,304 D
Employee Stock Option (Right to buy) $54.85(8) 12/07/2006 12/07/2015 Common Stock 12,364 12,364 D
Employee Stock Option (Right to buy) $58.65(9) 05/17/2008 05/17/2017 Common Stock 14,044 14,044 D
Performance Rights $0(10) 01/01/2009(11) 06/30/2009 Common Stock 1,724 1,724 D
Performance Rights $0(12) 12/31/2009(12) 03/31/2010 Common Stock 2,426 2,426 D
Performance Rights $0(10) 01/01/2010(11) 06/30/2010 Common Stock 1,459 1,459 D
Performance Rights $0(10) 01/01/2011(11) 06/30/2011 Common Stock 5,539 5,539 D
Phantom Stock Unit (13) (14) (15) Common Stock 20,260.7231 20,260.7231 D
Restricted Stock Units (16) (17) (17) Common Stock 2,001.43 2,001.43 D
Explanation of Responses:
1. Reflects sale of shares to satisfy tax payment for vested shares of Restricted Stock granted under the Company's 2007 Omnibus Incentive Compensation Plan.
2. The option vests in four equal annual installments beginning on December 13, 2002.
3. The option vests in four equal annual installments beginning on December 12, 2003.
4. The option vests in four equal annual installments beginning on December 10, 2004.
5. The option vests in four equal annual installments beginning on December 8, 2005.
6. The option vests in four equal annual installments beginning on February 14, 2009.
7. The option vests in four equal annual installments beginning on December 7, 2007.
8. The option vests in four equal annual installments beginning on December 7, 2006.
9. The option vests in four equal annual installments beginning on May 17, 2008.
10. Performance shares vest and are issued three years after the performance shares are awarded and the final number of shares issued is determined based on company performance against an established industry benchmark.
11. Performance shares vest and are issued three years after the performance shares are awarded and the final number of shares issued is determined based on company performance against an established industry benchmark.
12. The final number of shares issued will be based on company performance against an established industry benchmark for the performance period April 1, 2007, to December 31, 2009.
13. These phantom stock units convert to common stock on a one-for-one basis.
14. Unless the participant has selected a later commencement date, distribution of stock and equivalents will commence within 60 days following the end of the calendar year in which occurs the participant's retirement or termination of service.
15. Unless the participant has selected a later commencement date, distribution of stock and equivalents will commence within 60 days following the end of the calendar year in which occurs the participant's retirement or termination of service.
16. Each restricted stock unit represent a contingent right to receive one share of TEG common stock.
17. The restricted stock units vest in four equal annual installments beginning on February 14, 2009.
Remarks:
Table 1, Column 5 Reflects shares allocated by the company's ESOP program on March 31, 2008.
By: Barth J. Wolf, as Power of Attorney For: Mr. Borgard 05/22/2008
** 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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