Atlantic Union Bankshares Corporation Non-Employee Directors’ Annual Compensation Schedule (Effective October 1, 2021)
This document outlines the annual compensation for non-employee directors of Atlantic Union Bankshares Corporation, effective October 1, 2021. It specifies cash retainers for board and committee service, additional fees for chair and vice 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 instead. The schedule details the amounts for each role and the payment structure, ensuring transparency in director compensation.
Exhibit 10.24
SCHEDULE OF NON-EMPLOYEE DIRECTORS’ ANNUAL COMPENSATION
OF
ATLANTIC UNION BANKSHARES CORPORATION
Effective October 1, 2021
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| Amount |
Annual Retainer Cash Fees (1) |
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Service as a Director (2) | $45,000 |
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 | $22,500 (additional) |
Service as Chairman of Compensation Committee | $16,000 (additional) |
Service as Chairman of Risk Committee | $16,000 (additional) |
Service as Chairman of Nominating and Corporate Governance Committee | $14,000 (additional) |
Service as Chairman of Trust Committee | $14,000 (additional) |
Members of Audit Committee | $11,000 (additional) |
Members of Compensation, Risk, Nominating and Corporate Governance and Trust Committees | $8,000 (additional) |
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Meeting Fees Per Meeting |
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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 |
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Equity Compensation |
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In addition to cash compensation, non-employee directors receive an annual stock retainer of $60,000 paid quarterly in advance in unrestricted shares of the Company’s common stock. | |
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(1) The retainer fees are payable in advance in quarterly installments. |
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(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. | |
