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This excerpt taken from the DKS DEF 14A filed Apr 24, 2006. How are Directors compensated?
Beginning in fiscal 2001, non-employee Directors were compensated by means of an annual retainer of $20,000 plus $7,500 per meeting ($3,750 for teleconferences) both paid in cash. In addition to the annual retainer and per meeting fees (Board and committee per meeting fee is reduced if attended by teleconference), each committee chair receives $15,000 per committee chairmanship per year, except that the audit committee chair receives an annual retainer of $25,000. Each committee member also receives a per committee meeting fee of $1,500 ($750 for teleconferences). There are generally six (6) Board meetings per year. Prior to fiscal 2001, non-employee Directors received no cash compensation. Instead, there was an initial stock option grant of 8
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46,200 shares and annual stock option grants
of 23,100 shares. Currently, each Director receives an
initial option grant exercisable for 20,000 shares upon his
first election to the board with an additional annual option
grant exercisable for 10,000 shares for each year of
service thereafter. In accordance with our practice, each of
Messrs. Fuente, Chirico, Rossi and Schorr received option
grants exercisable for 10,000 shares of the Company’s
common stock at an exercise price of $37.90 as part of their
annual stock option grant made in fiscal 2006. In each case
these options vest in equal installments over four years from
the date of grant. Additionally, members of our Board of
Directors are reimbursed for their expenses incurred in
connection with attending any meeting.
This excerpt taken from the DKS DEF 14A filed Apr 25, 2005. How are Directors compensated?
Beginning in fiscal 2001, non-employee Directors were compensated by means of an annual retainer of $20,000 plus $7,500 per meeting both paid in cash. Beginning in fiscal 2003, in addition to the annual retainer and per meeting fees (Board and committee per meeting fee is reduced if attended by teleconference), each committee chair receives $15,000 per committee chairmanship per year, except that the audit committee chair receives an annual retainer of $25,000. Each committee member also receives a per committee meeting fee of $1,500. There are generally six (6) Board meetings per year. Prior to fiscal 2001, non-employee Directors received no cash compensation. Instead, there was an initial stock option grant of 46,200 shares and annual stock option grants of 23,100 shares. Currently, each Director receives an initial option grant exercisable for 20,000 shares upon his first election to the board with an additional annual option grant exercisable for 10,000 shares for each year of service thereafter. In accordance with our practice, each of Messrs. Fuente, Chirico, Rossi and Schorr received option grants exercisable for 10,000 shares of the Company’s common stock at an exercise price of $35.95 as part of their annual stock option grant made in fiscal 2005. In each case these 8
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options vest in equal installments over four
years from the date of grant. Additionally, members of our Board
of Directors are reimbursed for their expenses incurred in
connection with attending any meeting.
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