Non-Employee Director Compensation Policy (Effective April 2022)
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Summary
This document outlines the compensation policy for non-employee directors of the company, effective April 2022. Directors receive an annual cash retainer of $105,000 and an annual equity award valued at $90,000 in restricted stock units. Additional fees are provided for serving as Lead Director, committee chairs, and for attending more than 24 meetings per year. New directors receive a pro-rated equity award based on their start date. The policy specifies the structure and amounts of compensation for board service.
EX-10.3 4 exhibit103_directorcompens.htm EX-10.3 Document
$ 195,000
Non-Employee Director Compensation
Effective April 2022
Board Members:
Annual Retainer: $ 105,000
Annual Equity Award: $ 90,000 (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)
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Notes:
(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
Rev. April 1, 2022
