PRSP » Topics » Director Compensation for the Fiscal Year Ended December 31, 2008
This excerpt taken from the PRSP DEF 14A filed Mar 19, 2009.
Director Compensation for the Fiscal Year Ended December 31, 2008
Fees Earned or Paid in Cash(1)
James A. Bouligny
William H. Fagan, M.D.
Ned S. Holmes
D. Michael Hunter(4)
S. Reed Morian
Perry Mueller, Jr., D.D.S.
Tracy T. Rudolph(7)
Harrison Stafford II
Ervan E. Zouzalik
For the year ended December 31, 2008, no director received compensation in the form or perquisites or other personal benefits.
Represents the dollar amount recognized for financial statement reporting purposes for the fiscal year ended December 31, 2008 in accordance with Financial Accounting Standards
Board Statement No. 123R for restricted stock awarded pursuant to the Companys 2004 Stock Incentive Plan and thus may include amounts from awards granted in and prior to 2008. Assumptions used in the calculation of these amounts are
included in Note 15 to the Companys consolidated financial statements for the fiscal year ended December 31, 2008 included in its Annual Report on Form 10-K. During the year ended December 31, 2008, each of Messrs. Bouligny,
Fagan, Holmes, Morian, Mueller, Rudolph, Stafford and Steelhammer and Ms. Henderson was awarded 600 shares of restricted stock with a full grant value of $15,738.
Includes $7,200 in fees paid for service as an advisory director of the Bank in 2008.
Mr. Hunter retired from the Companys Board effective at the 2008 annual meeting of shareholders.
Includes $1,200 in fees paid for service as a director of the Bank in 2008.
Includes $9,600 in fees paid for service as an advisory director of the Bank in 2008.
Mr. Rudolph retired from the Companys Board on July 15, 2008 and forfeited all shares of restricted stock granted in 2008. Accordingly, no compensation expense for
the 2008 restricted stock grant was required to be recognized.
Includes $4,800 in fees paid for service as a director of the Bank in 2008. After being appointed to the Companys Board, Mr. Zouzalik resigned as a director of the Bank.
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