Non-Employee Director Compensation Policy Effective January 2021
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Summary
This document outlines the compensation policy for non-employee directors of the company, effective January 2021. Directors receive an annual cash retainer of $65,000 and an annual equity award valued at $130,000 in restricted stock units. Additional fees are provided for serving as Lead Director ($20,000) or as a committee chair, with amounts varying by committee. Directors also earn $1,500 per meeting attended beyond 24 meetings in a year. New directors receive a pro-rated equity award based on their start date.
EX-10.AR 4 a202010kexhibit10ar.htm EX-10.AR Document
Exhibit 10(ar)
| Non-Employee Director Compensation | ||||||||||||||
| Effective January 2021 | ||||||||||||||
| Board Member Fees: | ||||||||||||||
| Annual Retainer: | $ | 65,000 | ||||||||||||
| Annual Equity Award: | $ | 130,000 | (1)(2) | |||||||||||
| $ | 195,000 | |||||||||||||
| Lead Director Fee: | $ | 20,000 | ||||||||||||
| Committee Chair Fees: | ||||||||||||||
| Audit | $ | 15,000 | ||||||||||||
| Compensation | $ | 15,000 | ||||||||||||
| Nominating & Governance | $ | 10,000 | ||||||||||||
| Regulatory & Compliance | $ | 15,000 | ||||||||||||
| Meeting Fees: | $ | 1,500 | (3) | |||||||||||
| (1) | Target Value of restricted stock units | |||||||||||||
| (2) | New Directors receive an award of a pro-rated number of shares of the most recent annual grant based on the months remaining until the next annual grant | |||||||||||||
| (3) | For meetings attended in excess of 24 in a year | |||||||||||||
