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

 

Name

   Fees Earned or
Paid in Cash(1)
    Stock
Awards(2)
   Total

James A. Bouligny

   $ 13,900     $ 14,802    $ 28,702

William H. Fagan, M.D.

     13,400       14,802      28,202

Leah Henderson

     9,600       14,802      24,402

Ned S. Holmes

     13,300 (3)     14,802      28,102

D. Michael Hunter(4)

     3,000 (5)     —        3,000

S. Reed Morian

     10,900       14,802      25,702

Perry Mueller, Jr., D.D.S.

     20,700 (6)     14,802      35,502

Tracy T. Rudolph(7)

     8,800       4,310      13,110

Harrison Stafford II

     15,400       14,802      30,202

Robert Steelhammer

     16,450       14,802      31,252

Ervan E. Zouzalik

     15,900 (8)     —        15,900

 

(1) For the year ended December 31, 2008, no director received compensation in the form or perquisites or other personal benefits.

 

(2) 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 Company’s 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 Company’s 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.

 

(3) Includes $7,200 in fees paid for service as an advisory director of the Bank in 2008.

 

(4) Mr. Hunter retired from the Company’s Board effective at the 2008 annual meeting of shareholders.

 

12


(5) Includes $1,200 in fees paid for service as a director of the Bank in 2008.

 

(6) Includes $9,600 in fees paid for service as an advisory director of the Bank in 2008.

 

(7) Mr. Rudolph retired from the Company’s 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.

 

(8) Includes $4,800 in fees paid for service as a director of the Bank in 2008. After being appointed to the Company’s Board, Mr. Zouzalik resigned as a director of the Bank.

 

13


"Director Compensation for the Fiscal Year Ended December 31, 2008" elsewhere:

STERLING BANCORP (STL)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki