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FSII » Topics » Director Compensation For Fiscal 2009

This excerpt taken from the FSII DEF 14A filed Dec 9, 2009.
Director Compensation For Fiscal 2009
 
                         
    Fees Earned or
 		    Option
 		       
Name
  Paid in Cash ($)     Awards ($) (1)(2)     Total ($)  
 
James A. Bernards
  $ 22,575     $ 3,936     $ 26,511  
Terrence W. Glarner
  $ 21,525     $ 3,936     $ 25,461  
Willem D. Maris
  $ 20,625     $ 3,936     $ 24,561  
David V. Smith
  $ 19,200     $ 3,936     $ 23,136  
 
 
(1) The amounts in this column reflect the expense (without any reduction for forfeiture assumptions related to service-based vesting conditions) recognized for financial statement purposes in fiscal 2009 in accordance with Statement of Financial Accounting Standards No. 123 (Revised 2004), Share Based Payment (“SFAS 123R”), in connection with all outstanding stock option awards (including those granted before fiscal 2009) made to the respective directors under our 1997 Omnibus Stock Plan and the 2008 Omnibus Stock Plan. The assumptions used in calculating these amounts, and the grant date fair value shown in footnote 2 to this table of awards made in fiscal 2009, are set forth in Note 12, “Stock Options” to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 29, 2009.
 
(2) On January 21, 2009, FSI granted a stock option covering 7,500 shares to each of Messrs. Bernards, Glarner, Maris and Smith, at an exercise price of $0.37 per share, which was the closing sale price on January 21, 2009. The grant date fair value of each of these option awards was $1,693. As of August 29, 2009, the aggregate number of exercisable and non-exercisable option shares held by each non-employee director was as follows:
 
                 
        Number of
    Number of Shares
 		  Shares Underlying
    Underlying Exercisable
 		  Unexercisable
Name
  Options at 8/29/09   Options at 8/29/09
 
James A. Bernards
    57,500       7,500  
Terrence W. Glarner
    65,000       7,500  
Willem D. Maris
    80,000       7,500  
David V. Smith
    42,500       7,500  
 

"Director Compensation For Fiscal 2009" elsewhere:

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