Summary of Compensation for Non-Employee Directors of National Research Corporation (May 3, 2007)
National Research Corporation outlines compensation for its non-employee directors as of May 3, 2007. Non-employee directors receive a $10,000 annual retainer, $500 for each committee meeting not held on a Board meeting day, and reimbursement for meeting-related expenses. The lead director receives $500 for each management meeting attended, excluding Board or committee meetings. Each non-employee director is also granted an annual option to purchase 12,000 shares of common stock at fair market value, vesting one year after the grant date.
Summary of Compensation for
Non-Employee Directors May 3, 2007
As of May 3, 2007, the compensation for non-employee members of the Board of Directors (the “Board”) of National Research Corporation (the “Company”) is as follows:
Directors who are not employees of the Company will receive an annual retainer of $10,000 and a fee of $500 for each committee meeting attended that is not held on the same date as a Board meeting is held. The Company’s lead director will receive a fee of $500 for each meeting with management that the lead director attends (excluding any Board or committee meeting). Additionally, directors are reimbursed for out-of-pocket expenses associated with attending meetings of the Board and committees thereof.
Each director who is not an employee of the Company will receive an annual grant of an option to purchase 12,000 shares of the Company’s Common Stock on the date of each annual meeting of shareholders. The options will have an exercise price equal to the fair market value of the Common Stock on the date of grant and vest one year after the grant date.
