SCMR » Topics » Non-Employee Director Compensation for Fiscal 2008
This excerpt taken from the SCMR DEF 14A filed Nov 24, 2008.
Non-Employee Director Compensation for Fiscal 2008
Fees Earned or Paid in Cash (1) ($)
Option Awards (2) ($)
All Other Compensation ($)
Craig R. Benson (3)
Paul W. Chisholm (4)
Robert E. Donahue (5)
Paul J. Ferri (7)
John W. Gerdelman (8)
Gururaj Deshpande (9)
Reflects amounts earned by our directors for their fiscal 2008 service on the Board and committees, regardless of when the amounts were paid.
Amounts shown are the compensation costs recognized by us in fiscal 2008 for option awards as determined pursuant to SFAS 123R, disregarding forfeiture assumptions. These
compensation costs reflect option awards granted in fiscal 2008 and years prior to fiscal 2008. A description of the valuation model and assumptions used to calculate the value of option awards is set forth in Note 10 of the Notes to Consolidated
Financial Statements included in our Annual Report on Form 10-K for the year ended July 31, 2008.
As of July 31, 2008, Mr. Benson held outstanding options to purchase 120,000 shares of our common stock.
Mr. Chisholm resigned from the Board effective February 27, 2008 and, pursuant to the terms of the 1999 Director Plan, his outstanding options to purchase shares of our
common stock expired on May 27, 2008.
As of July 31, 2008, Mr. Donahue held outstanding options to purchase 90,000 shares of our common stock.
Shows the compensation costs recognized by us in fiscal 2008 for option awards to Mr. Donahue as determined pursuant to SFAS 123R, disregarding forfeiture assumptions. We are
not recognizing any compensation expense in connection with the first 30,000 share installment of Mr. Donahues initial 90,000 share grant because the applicable vesting requirements were not met.
Mr. Ferri resigned as a member of the Board effective October 15, 2007 and, pursuant to the terms of the 1999 Director Plan, his outstanding options to purchase shares of
our common stock expired on January 13, 2008.
As of July 31, 2008, Mr. Gerdelman held outstanding options to purchase 330,000 shares of our common stock.
Mr. Deshpande resigned as an employee of the Company effective August 1, 2007. Although as a non-employee director of the Company Mr. Deshpande was entitled to
receive the cash and equity compensation set forth above, Mr. Deshpande elected to waive his right to receipt of such compensation for fiscal 2008.