Audit Committee: | $ 20,000 |
Human Resources & Compensation Committee: | 15,000 |
Finance Committee: | 20,000 |
Corporate Governance and Nominating Committee: | 12,000 |
Audit Committee: | $ 10,000 |
Human Resources & Compensation Committee: | -- |
Finance Committee: | 10,000 |
Corporate Governance and Nominating Committee: | -- |
• | To acquire up to $65,000 of restricted stock units, calculated by dividing $65,000 by the closing sale price for a share of the Company’s common stock on the Nasdaq Stock Market on the date of the Company’s annual meeting of stockholders |
• | Granted to directors who are elected to the board at the annual meeting of stockholders |
• | Vest on the earlier of (a) the date preceding the subsequent annual meeting of the Company’s shareholders or (b) the first anniversary of the date of the grant. |
• | All cash retainers are paid quarterly in arrears and are subject to pro rata adjustment if an individual does not serve a complete fiscal quarter |
• | All equity awards are pro rated for directors who are appointed or elected to the board subsequent to the Company’s annual meeting of shareholders. In such event, the equity awards shall be granted on the first occurrence of the second trading date following the Company’s earnings release for a completed fiscal quarter following the appointment or election of such director (the “Grant Date”) based on the closing sale price for a share of the Company’s common stock on the Nasdaq Stock Market on the Grant Date |