ROME » Topics » Plans and Stock Option Plans.

This excerpt taken from the ROME DEF 14A filed Apr 1, 2009.
Plans and Stock Option Plans. In addition, our directors are eligible to participate in Directors’ Deferred Compensation Plan of Rome Bancorp, Inc. as well as each of the two Stock Option Plans and Recognition and Retention Plans maintained by Rome Bancorp. These benefit plans are discussed under “Benefit Plans,” “Deferred Compensation Plan,” “Stock Option Plans” and “Recognition and Retention Plans.”

      The following table sets forth information regarding compensation earned by the non-employee directors of Rome Bancorp, Inc. during the last fiscal year.

Fees Earned or Paid
Stock
Option
in Cash
Awards
Awards
Total
Name
    
($)(1)
   
($)(2)
    
($)(3)
    
($)
Bruce R. Engelbert   29,720   30,302   9,986  
70,008
David C. Grow   28,025   30,302   9,986  
68,313
Kirk B. Hinman   33,750   30,302   9,986  
74,038
Dale A. Laval   21,335   30,302   9,986  
61,623
John A. Reinhardt   27,925   -   -  
27,925
Michael J. Valentine   39,445   30,302   9,986  
79,733

 
(1)

Includes retainer payments, meeting fees, and committee and/or chairmanship fees earned during the fiscal year, whether such fees were paid currently or deferred.

 
(2)

Represents the compensation cost recognized for the fiscal year in connection with restricted stock of Rome Bancorp granted to the director, regardless of the year in which granted and calculated in accordance with FAS 123R for financial statement purposes. For more information concerning the assumptions used for these calculations, please refer to the footnotes to the audited financial statements, included in the 2008 Annual Report on Form 10-K. This amount does not reflect the value of dividends paid on unvested restricted stock. The total number of unvested restricted stock awards outstanding to each non-employee director at December 31, 2008 was: Director Engelbert, 7080; Director Grow, 7080; Director Hinman, 7080; Director Laval, 7080; Director Reinhardt, 0; Director Valentine, 7080.

 

21


(3)

Represents the compensation cost recognized for the fiscal year for options to purchase shares of Rome Bancorp common stock outstanding to the director, regardless of the year in which granted and calculated in accordance with FAS 123R for financial statement purposes. For more information concerning the assumptions used for these calculations, please refer to the footnotes to the audited financial statements, included in the 2008 Annual Report on Form 10-K. The total number of unexercised options outstanding to each non-employee director at December 31, 2008 was: Director Engelbert, 29,500; Director Grow, 29,500; Director Hinman, 29,500; Director Laval, 29,500; Director Reinhardt, 0; Director Valentine, 29,500.

 
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