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*
OLIVERA ARMANDO J
(Last) (First) (Middle)
FPL GROUP, INC.
9250 WEST FLAGLER STREET
(Street)
MIAMI FL 33174
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
FPL GROUP INC [ FPL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
Officer (give title below) X Other (specify below)
Director/President of Sub
3. Date of Earliest Transaction (Month/Day/Year)
02/16/2006
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 02/16/2006 A(1) 17,000 A $0(12) 144,420(2) D
Common Stock 02/16/2006 A(3) 26,884 A $0(12) 171,304(2) D
Common Stock 02/16/2006 F(4) 9,800 D $41.76 161,504(2) D
Common Stock 02/17/2006 S(5) 1,801 D $41.93 159,703(2) D
Common Stock 768(6) I Thrift Plans Trust
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
Phantom Shares (7) 02/16/2006 A 1,066 (7) (7) Common Stock (7) (7) 3,428 D
Employee Stock Option (Right to Buy) $30.86 (8) 02/12/2011 Common Stock 100,000 100,000 D
Employee Stock Option (Right to Buy) $26.32 (8) 02/11/2012 Common Stock 50,000 50,000 D
Employee Stock Option (Right to Buy) $27.56 (8) 02/13/2013 Common Stock 50,000 50,000 D
Employee Stock Option (Right to Buy) $32.46 (9) 02/12/2014 Common Stock 100,000 100,000 D
Employee Stock Option (Right to Buy) $36.95 (10) 01/03/2015 Common 60,000 60,000 D
Employee Stock Option (Right to Buy) $41.76 02/16/2006 A 50,000 (11) 02/16/2016 Common Stock 50,000 $0(12) 50,000 D
Explanation of Responses:
1. Restricted stock grant made pursuant to Issuer's Amended and Restated Long Term Incentive Plan, exempt under Rule 16b-3.
2. Includes 23,178 shares deferred until the reporting person's retirement.
3. Shares acquired in settlement of performance share awards (which were not derivative securities) under Issuer's Amended and Restated Long Term Incentive Plan, exempt under Rule 16b-3.
4. Stock withheld by Issuer to satisfy tax withholding obligations on shares acquired February 16, 2006 in settlement of performance share awards.
5. Sale effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 13, 2005.
6. As of February 15, 2006.
7. Phantom shares are annually credited to an unfunded Supplemental Matching Contribution Account ("SMCA") for the reporting person pursuant to the FPL Group, Inc. Supplemental Executive Retirement Plan in an amount approved on the transaction date by the Issuer's Compensation Committee, which amount is determined by dividing an amount equal to (a) certain matching contributions in excess of the limits of the Issuer's Thrift Plan ("Thrift Plan") plus (b) theoretical earnings, by (c) the closing price of the Issuer's common stock on the last business day of the relevant year ($41.56 in 2005). The value of the SMCA is payable in cash following the reporting person's termination of employment with the Issuer and its subsidiaries.
8. Options are currently exercisable.
9. Options to buy 66,666 shares are currently exercisable and options to buy 33,334 shares become exercisable on 2/12/2007.
10. Options to buy 20,000 are currently exercisable and options to buy 20,000 shares become exercisable on each of 1/3/2007 and 1/3/2008.
11. Options to buy 16,667 shares become exercisable on each of 02/16/2007 and 02/16/2008 and options to buy 16,666 shares become exercisable on 02/16/2009.
12. Not applicable.
Remarks:
Alissa E. Ballot (Attorney-in-Fact) 02/21/2006
** 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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