|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the SIRI DEF 14A filed Nov 4, 2008. How are
the directors compensated?
Directors who are also our employees do not receive any
compensation for their services as directors. Also,
Mr. Huber and Mr. Mendel, who are employees of General
Motors and American Honda, respectively, have elected to forgo
all compensation paid to directors. Currently, each member of
our board of directors, who is not employed by us, receives a
cash annual retainer and equity compensation payable in the
following manner:
Any director who fails to attend at least 75% of the meetings of
the board of directors in any given year, forfeits 25% of his or
her compensation that is payable in cash. During 2007, all of
our directors, other than Leon Black, attended over 75% of the
meetings of our board of directors.
Each director who serves as chair of a committee of the board of
directors receives an additional annual cash retainer as
follows: the audit committee chairwoman receives $30,000; the
compensation committee chairman receives $20,000 and the
nominating and corporate governance chairman receives $10,000.
All options to purchase common stock awarded to our directors
vest over a four-year period, with 25% vesting on each
anniversary of the date of grant; provided that no
options vest in a given year if, in the prior calendar year, the
director failed to attend at least 75% of the meetings of the
board.
We also pay reasonable travel and accommodation expenses of
directors in connection with their participation in meetings of
the board of directors. For more information on the compensation
of our directors, see “Executive Compensation —
Director Compensation Table for 2007.”
This excerpt taken from the SIRI DEF 14A filed Apr 23, 2007. How
are the directors compensated?
Directors who are also our employees do not receive any
compensation for their services as directors. Currently, each
member of our board of directors who is not employed by us
receives an annual retainer of $80,000 payable in the following
manner:
Any director who fails to attend at least 75% of the meetings of
the board of directors in any given year, forfeits 25% of his or
her compensation that is payable in cash. During 2006, all of
our directors attended over 75% of the meetings of our board of
directors.
Each director who serves as chair of a committee of the board of
directors receives an additional payment of $20,000. These fees
are payable in the form of cash, restricted stock units, options
to purchase our common stock, or any combination thereof, at the
election of the director.
All options to purchase common stock awarded to our directors
vest over a four-year period, and all restricted stock units
awarded to our directors vest on the date that is one year
following the director’s resignation, retirement from the
board of directors or failure to be re-elected for any reason
whatsoever.
We also pay reasonable travel and accommodation expenses of
directors in connection with their participation in meetings of
the board of directors. For more information on the compensation
of our directors, see “Executive Compensation —
Director Compensation Table for 2006.”
This excerpt taken from the SIRI DEF 14A filed Apr 21, 2006. How are the directors compensated? Each member of our board of directors who is not employed by us receives an annual retainer of $80,000 per year payable in the following manner:
If any director fails to attend at least 75% of the meetings of the board of directors in any given year, he or she will forfeit 25% of his or her compensation that is payable in cash. During 2005, all of our directors attended over 90% of the meetings of our board of directors. Each director who serves as chair of a committee of the board of directors receives an additional payment of $20,000. These fees are payable in the form of cash, restricted stock units, options to purchase our common stock, or any combination thereof, at the election of the director. All options to purchase common stock awarded to our directors vest over a four-year period, and all restricted stock units awarded to our directors vest on the date that is one year following the director's resignation, retirement from the board of directors or failure to be re-elected for any reason whatsoever. We also pay reasonable travel and accommodation expenses of directors in connection with their participation in meetings of the board of directors. This excerpt taken from the SIRI DEF 14A filed Apr 20, 2005. How are the directors compensated? Each member of our board of directors who is not employed by us receives an annual retainer of $80,000 per year payable in the following manner:
If any director fails to attend at least 75% of the meetings of the board of directors in any given year, he or she will forfeit 25% of his or her compensation that is payable in cash. During 2004, all of our directors attended over 75% of the meetings of our board of directors. In addition to this annual retainer, each director who serves as chair of a committee of the board of directors receives an additional payment of $20,000. These fees are payable in the form of cash, restricted stock units, options to purchase our common stock, or any combination thereof, at the election of the director. All options to purchase common stock awarded to our directors vest over a four-year period, and all restricted stock units awarded to our directors vest on the date that is one year following the director's resignation, retirement from the board of directors or failure to be re-elected for any reason whatsoever. We also pay reasonable travel and accommodation expenses of directors in connection with their participation in meetings of the board of directors. 7
| EXCERPTS ON THIS PAGE:
|
| |||||||
