Board service pays better than ever.The median compensation for outside directors rose to $118,337 in stock and cash in 2001, up from $100,807 in 2000, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey of 2001 non-employee corporate director pay levels conducted by Towers Perrin Towers Perrin is a global professional services firm. It was established 1 March 1934 as Towers, Perrin, Forster & Crosby. The umbrella name of Towers Perrin was adopted in 1987. of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Stock now represents three-quarters Noun 1. three-quarters - three of four equal parts; "three-fourths of a pound" three-fourths common fraction, simple fraction - the quotient of two integers three-quarters npl → of total compensation, up from two-thirds last year.
CASH
% of
companies 75th
(OUT OF 250) percentile Median
BOARD CASH RETAINER 94% $36,000 $30,000
BOARD MEETING FEE 74 1,500 1,250
COMMITTEE CASH RETAINER 11 5,000 3,600
COMMITTEE MEETING FEE 73 1,275 1,000
COMMITTEE CHAIR 61 5,000 4,000
EXTRA RETAINER
COMMITTEE CHAIR 7 1,000 500
EXTRA MEETING FEE
ANNUAL CASH COMPENSATION 98 60,200 49,000
ANNUAL/RECURRING STOCK COMP. 94 140,966 73,205
TOTAL DIRECT COMPENSATION 100 181,809 118,337
ONE-TIME STOCK-BASED GRANTS 29 301,581 151,587
25th
percentile
BOARD CASH RETAINER $22,425
BOARD MEETING FEE 1,000
COMMITTEE CASH RETAINER 2,500
COMMITTEE MEETING FEE 1,000
COMMITTEE CHAIR 3,000
EXTRA RETAINER
COMMITTEE CHAIR 413
EXTRA MEETING FEE
ANNUAL CASH COMPENSATION 40,000
ANNUAL/RECURRING STOCK COMP. 41,290
TOTAL DIRECT COMPENSATION 84,650
ONE-TIME STOCK-BASED GRANTS 56,311
Notes: Stock compensation figures are based on expected value at grant,
with stock options valued according to the Black-Scholes option-pricing
model. Annual cash compensation is based on the assumptions that the
board meets eight times, each committee meets four times, and each
director is a member of two committees and a chair of one of the
committees.
Source: Towers Perrin. Results based on proxy filings of 250 companies
in the S&P 500.
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