Annual Nonemployee Director Compensation Overview for Spr Board of Directors

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the annual compensation for nonemployee directors serving on the Spr Board of Directors. Directors receive a $110,000 cash retainer and a $135,000 equity award in restricted stock or RSUs, with additional cash retainers for leadership roles such as Chairman or committee chairs. Nonemployee directors are also required to hold stock equal to five times the annual cash retainer, to be achieved within four years of joining the Board. RSUs are deferred until the director leaves the Board.

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EX-10.1 2 spr_20210701-ex101.htm EX-10.1 Document
Exhibit 10.1
Annual Nonemployee Director Compensation Overview


Board Service
Cash Retainer$110,000 (Cash)
Equity Award$135,000 (Restricted Stock or RSUs*)
Additional Cash Retainers for Board Leadership
Nonexecutive Chairman of the Board$115,000
Audit Committee Chair$26,000
Compensation Committee Chair$21,000
Corporate Governance and Nominating Committee Chair$15,000
Risk Committee Chair$15,000
Stock Ownership Guidelines
Nonemployee Directors5X Annual Cash Retainer**
* RSUs are deferred until separation from the Board
** A nonemployee Director is expected to reach the stock ownership guideline four years from the date the individual is first elected to the Board.