NDAQ » Topics » Annual Non-Retainer Equity for Non-Employee Directors
This excerpt taken from the NDAQ 8-K filed Mar 14, 2006.
Annual Non-Retainer Equity for Non-Employee Directors
Directors will receive non-retainer equity in the form of Restricted Stock Awards (RSAs) in the amount of $50,000 per annum.
The Director will receive the grant following the annual shareholders meeting.
Calculation of the number of shares of restricted stock to be awarded will be valued at 100% of face value and based on the closing price of Common Stock on the date immediately
prior to the grant (Fair Market Value) at a value of $50,000.
The RSA vesting schedule and other pertinent information related to the RSAs grants are discussed below in the RSAs section.
A Director appointed after the annual shareholders meeting will eligible to receive a prorated non-retainer equity grant at the Directors first Board meeting.
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