X0303 4 2009-02-06 0001085392 PUGET ENERGY INC /WA PSD 0001165752 REYNOLDS STEPHEN P 10885 NE 4TH STREET, PSE-12 BELLEVUE WA 98004-5591 1 1 Chairman, President and CEO Common 2009-02-06 4 D 0 40107 30 D 0 D Common 2009-02-06 4 D 0 146047 30 D 0 I By Brokerage Account Common 2009-02-06 4 D 0 950 30 D 0 I By spouse through brokerage account LTIP 0 2009-02-06 4 D 0 50282 0 D 2008-12-31 2008-12-31 Common 50282 0 D LTIP 0 2009-02-06 4 D 0 45355 0 D 2009-12-31 2009-12-31 Common 45355 0 D LTIP 0 2009-02-06 4 D 0 35163 0 D 2010-12-31 2010-12-31 Common 35163 0 D LTIP - Stock Options 22.51 2009-02-06 4 D 0 40000 0 D 2003-01-07 2012-01-07 Common 40000 0 D PSE Deferred Compensation Plan 0 2009-02-06 4 D 0 80546 0 D Common 80546 0 D Stock Options - A 22.51 2009-02-06 4 D 0 110000 0 D 2003-01-07 2012-01-07 Common 110000 0 D Stock Options - B 22.51 2009-02-06 4 D 0 150000 0 D 2003-01-07 2012-01-07 Common 150000 0 D Disposed of pursuant to Agreement and Plan of Merger dated October 25, 2007 among the issuer, Padua Holdings LLC (now Puget Holdings LLC), Padua Intermediate Holdings Inc. (now Puget Intermediate Holdings Inc.) and Padua Merger Sub Inc. (now Puget Merger Sub Inc.) at a price per share of $30, less any applicable tax withholding. Performance shares grants under the Puget Energy Long Term Incentive Plan (LTIP) for Officers and Key Employees. LTIP performance shares are paid in stock (or cash) when vested from zero to 175% of LTIP performance shares granted. Disposed of pursuant to the merger agreement referenced above in exchange for a cash payment equal to $30.00 per share for the number of shares that were issuable upon the achievement, for each outstanding award cycle, of (i) the target performance level for the applicable cycle and (ii) the performance measures that the issuer had achieved for the applicable cycle during the period commencing upon the starting year of such cycle and ending with the fiscal quarter immediately preceding the merger, plus the dividend equivalents associated with the number of shares. LTIP share grants under the Puget Energy Long-Term Incentive Plan for Officers and Key Employees. LTIP Shares are paid in stock (or up to 50% in cash) when vested in an amount ranging from zero to 155.5% of LTIP Share Grants. Non-qualified stock option grant to purchase 40,000 shares of common stock with a term of ten years, under the Puget Energy Long-Term Incentive Plan for Officers and Key Employees. Share grants vest over a period of four years from January 1, 2002 at twenty-five percent per year. Disposed of pursuant to the merger agreement referenced above in exchange for a cash payment per share equal to the difference between $30.00 and the option exercise price, less any applicable tax withholding. One common share will be received for each stock unit. Phantom share units deferred in the Puget Sound Energy Deferred Compensation Plan. Disposed of pursuant to the merger agreement referenced above and the terms of the applicable plans through reallocation to plan measurement funds other than a company stock fund or phantom share units, as applicable. Nonqualified stock option grant to purchase 110,000 shares of common stock with a term of ten years. Share grants vest over a period of four years from January 1, 2002 at twenty-five percent per year. Nonqualified stock option grant to purchase 150,000 shares of common stock with a term of ten years. Share grants vest over a period of five years from January 1, 2002 at twenty percent per year. /s/ Samuel S. Osborne, Attorney-in-Fact 2009-02-09