Genuine Parts Company Non-Employee Director Compensation Description (Effective July 1, 2021)
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Summary
This document outlines the compensation for non-employee directors of Genuine Parts Company, effective July 1, 2021. Non-employee directors receive $22,500 per fiscal quarter, with additional payments for committee chairs and the Independent Lead Director. Directors can defer their fees and may receive restricted stock units under the company's incentive plan. The Board of Directors may change compensation terms without stockholder approval.
EX-10.1 2 gpc_06302021x101-descripti.htm EX-10.1 Document
EXHIBIT 10.1
DESCRIPTION OF DIRECTOR COMPENSATION
Effective July 1, 2021, non-employee directors of the Company receive $22,500 per fiscal quarter in compensation for service as director, and Chairs of the Audit Committee and the Compensation, Nominating and Governance Committee, each receive an additional $6,250 per fiscal quarter, and the Independent Lead Director, receives an additional $8,750 per fiscal quarter. Non-employee directors may elect to defer the receipt of director fees in accordance with the terms of the Company’s Directors’ Deferred Compensation Plan. In addition, non-employee directors may from time to time be granted restricted stock units pursuant to the provisions of the Genuine Parts Company 2015 Long Term Incentive Plan. The compensation of directors may be changed from time to time by the Board of Directors without stockholder approval.
