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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 Director’s first Board meeting.
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