IPGP » Topics » DIRECTOR COMPENSATION

This excerpt taken from the IPGP DEF 14A filed Apr 20, 2009.
DIRECTOR COMPENSATION
 
The following table summarizes the compensation of each of our non-employee directors for the fiscal year ended December 31, 2008:
 
                         
    Fees Earned
             
    or Paid in
    Option Awards
       
Name
  Cash ($)     ($)(1)     Total ($)  
 
Robert A. Blair(2)
    50,000       37,678       87,678  
Michael H. Child(2)(3)
          37,678       37,678  
John H. Dalton(2)
    34,167       37,678       71,845  
Henry E. Gauthier(2)
    47,910       42,713       90,623  
William S. Hurley(2)
    55,000       42,713       97,713  
William F. Krupke(2)
    40,000       34,278       74,278  
 
 
(1) Valuation based on the dollar amount of option grants recognized for financial statement reporting purposes pursuant to Statement of Financial Accounting Standards No. 123(R), “Share-Based Payment” (“SFAS 123(R)”), with respect to 2008. The assumptions that we used with respect to the valuation of option grants are set forth in Note 2 to our Consolidated Financial Statements in our Annual Report on Form 10-K filed with the SEC on March 12, 2009. Each director was granted options to purchase 6,667 shares on June 10, 2008 at an exercise price of $20.32 per share that vest over four years. The grant date fair value of each such option award issued in 2008 is $45,358.
 
(2) As of December 31, 2008, Mr. Blair owned options to purchase 35,001 shares, 15,000 of which were vested; Mr. Child owned options to purchase 106,669 shares, of which 86,668 were vested; Mr. Dalton owned options to purchase 40,001 shares, of which 20,000 were vested; Mr. Gauthier owned options to purchase 23,334 shares, of which 1,666 were vested; Mr. Hurley owned options to purchase 33,334 shares, 11,666 of which were vested; and Dr. Krupke owned options to purchase 23,335 shares, of which 3,333 were vested.
 
(3) Mr. Child waived his cash compensation for 2008 and prior years.
 
This excerpt taken from the IPGP DEF 14A filed Apr 15, 2008.
DIRECTOR COMPENSATION
 
The following table summarizes the compensation of each of our non-employee directors for the fiscal year ended December 31, 2007:
 
                         
    Fees Earned
             
    or Paid in
    Option Awards
       
Name
  Cash ($)     ($)(1)     Total ($)  
 
Robert A. Blair(2)
    50,000       21,562       71,562  
Michael H. Child(2)(3)
          21,562       21,562  
John H. Dalton(2)
    30,000       21,562       51,562  
Henry E. Gauthier(2)
    47,590       26,419       74,009  
William S. Hurley(2)
    55,000       26,419       81,419  
William F. Krupke(2)
    40,000       18,026       58,026  
 
 
(1) Valuation based on the dollar amount of option grants recognized for financial statement reporting purposes pursuant to Statement of Financial Accounting Standards No. 123(R), “Share-Based Payment” (“SFAS 123(R)”), with respect to 2007. The assumptions that we used with respect to the valuation of option grants are set forth in Note 2 to our Consolidated Financial Statements in our Annual Report on Form 10-K filed with the SEC on March 13, 2008. Each director was granted options to purchase 6,667 shares on June 12, 2007 at an exercise price of $20.32 per share that vest over four years. The grant date fair value of each such option award issued in 2007 is $87,938.
 
(2) As of December 31, 2007, Mr. Blair owned options to purchase 28,334 shares, 6,666 of which were vested; Mr. Child owned options to purchase 100,002 shares, of which 78,334 were vested; Mr. Dalton owned options to purchase 33,334 shares, of which 11,666 were vested; Mr. Gauthier owned options to purchase 21,667 shares, of which 5,000 were vested; Mr. Hurley owned options to purchase 26,677 shares, 10,000 of which were vested; and Dr. Krupke owned options to purchase 33,334 shares, of which 11,166 were vested.
 
(3) Mr. Child waived his cash compensation for 2007 and prior years.
 
This excerpt taken from the IPGP DEF 14A filed Apr 30, 2007.
DIRECTOR COMPENSATION
 
The following table summarizes the compensation of each of our non-employee directors for the fiscal year ended December 31, 2006.
 
                         
    Fees Earned or
    Option
       
    Paid in Cash
    Awards
    Total
 
Name
  ($)     ($)(1)     ($)  
 
Robert A. Blair(2)
    46,667       5,669       52,336  
Michael H. Child(2)(3)
          5,669       5,669  
John H. Dalton(2)
    32,500       5,669       38,169  
Henry E. Gauthier(4)
    38,958       10,079       49,037  
William S. Hurley(4)
    40,833       10,079       50,912  
William F. Krupke(2)
    35,833       3,825       39,658  
 
 
(1) Valuation based on the dollar amount of option grants recognized for financial statement reporting purposes pursuant to Statement of Financial Accounting Standards No. 123(R), “Share-Based Payment” (“SFAS 123(R)”), with respect to 2006. The assumptions that we used with respect to the valuation of option grants are set forth in Note 2 to our Consolidated Financial Statements in our Annual Report on Form 10-K filed with the SEC on March 29, 2007.
 
(2) As of December 31, 2006, Mr. Blair owned options to purchase 21,667 shares, none of which were vested; Mr. Child owned options to purchase 93,335 shares, of which 71,668 were vested; Mr. Dalton owned options to purchase 26,667 shares, of which 5,000 were vested; and Dr. Krupke owned options to purchase 26,667 shares, of which 5,000 were vested. Each director was granted options to purchase 6,667 shares on June 21, 2006 at an exercise price of $6.45 per share that vest over four years. The grant date fair value of each such option award issued in 2006 is $23,535.
 
(3) Mr. Child waived his cash compensation for 2006 and prior years.
 
(4) As of December 31, 2006, Messrs. Gauthier and Hurley each owned options to purchase 20,000 shares, none of which were vested. All of such options were granted on April 18, 2006 at an exercise price of $5.37 per share that vest over four years. The grant date fair value of each such option award issued in 2006 is $57,188.
 
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