Safeguard Scientifics, Inc. Non-Employee Director Compensation Summary (Effective July 1, 2018)
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Summary
This document outlines the compensation plan for non-employee directors of Safeguard Scientifics, Inc. as of July 1, 2018. Non-employee directors receive annual cash retainers, additional fees for committee chair roles, and reimbursement for meeting and education expenses. Each director also receives an annual grant of restricted stock valued at $75,000, which vests immediately for directors aged 65 or older, or after one year or upon reaching age 65. Payments are made quarterly and prorated for partial service.
EX-10.7 2 sfe201810kex107.htm EXHIBIT 10.7 Exhibit
SAFEGUARD SCIENTIFICS, INC.
COMPENSATION SUMMARY - NON-EMPLOYEE DIRECTORS
Effective as of July 1, 2018, non-employee directors are compensated for their service as a director as shown in the table below:
Annual Board Retainers (for a full year of Board service): | |||
Chairman of the Board | $100,000 | ||
Other Directors | $50,000 | ||
Additional Annual Chairperson Retainers (for a full year of committee service): | |||
Audit Committee | $15,000 | ||
Compensation Committee | $10,000 | ||
Nominating & Corporate Governance Committee | $10,000 | ||
Directors’ fees are paid quarterly, in arrears, and retainers are prorated based on actual days of service relative to a full year of Board service. We also reimburse non-employee directors for expenses they incur to attend Board and Committee meetings and for attendance at one director continuing education program during each calendar year or the reasonable cost of one year’s membership in an organization which is focused on director education.
Each non-employee director also receives an annual service grant of shares of restricted stock having a value of $75,000, based upon the average closing price of a share of the our common stock on the New York Stock Exchange composite tape for the 20 consecutive trading days immediately preceding the grant date. The shares of restricted stock are fully vested at grant for those directors who have reached age 65 and otherwise shall vest 100% on the earlier of the first anniversary of the grant date or the director’s attainment of age 65.
