Atlantic Union Bankshares Corporation Non-Employee Directors’ Annual Compensation Schedule (Effective February 1, 2021)

Summary

This document outlines the annual compensation for non-employee directors of Atlantic Union Bankshares Corporation, effective February 1, 2021. It specifies cash retainers for board and committee service, additional fees for chair roles, and meeting fees. Non-employee directors also receive an annual stock retainer, paid quarterly in unrestricted company shares. Directors may choose to receive their cash retainer in stock starting in the second quarter of 2021. The agreement details the amounts and payment terms for each type of service and compensation.

EX-10.11 3 aub-20201231xex10d11.htm EX-10.11

Exhibit 10.11

SCHEDULE OF NON-EMPLOYEE DIRECTORS’ ANNUAL COMPENSATION

OF

ATLANTIC UNION BANKSHARES CORPORATION

Effective February 1, 2021

 

 

 

 

Amount

Annual Retainer Cash Fees (1)

 

Service as a Director (2)

$35,000

Service as Chairman of the Board of Directors

$80,000 (additional)

Service as Vice Chairman of the Board of Directors

$20,000 (additional)

Service as Chairman of Audit Committee

$20,000 (additional)

Service as Chairman of Compensation Committee

$13,500 (additional)

Service as Chairman of Risk Committee

$15,000 (additional)

Service as Chairman of Nominating and Corporate Governance Committee

$10,000 (additional)

Service as Chairman of Trust Committee

$10,000 (additional)

Members of Audit, Compensation, Risk, Nominating and Corporate Governance and Trust Committees

$8,000 (additional)

 

 

Meeting Fees Per Meeting

 

Executive Committee (in person or telephonic)

$1,000

Executive Committee (telephonic lasting under an hour)

$500

Meetings above the maximum number of meetings during the year

$1,000

Special Purpose Committees

$500

 

 

Equity Compensation

 

In addition to cash compensation, non-employee directors receive an annual stock retainer of $50,000 paid quarterly in advance in unrestricted shares of the Company’s common stock.

 

 

(1) The retainer fees are payable in advance in quarterly installments.

 

(2) Non-employee directors may elect to receive all or a portion of the Director cash retainer in unrestricted shares of the Company’s common stock, beginning with the second quarter in 2021.