August 26, 2009
Director Pay Falls Slightly
– Steven Hall, Steven Hall & Partners
Recently, we wrapped up this study of director pay that found that total remuneration has halted its steady climb, actually falling back by 2.4% over the last year to $245,000 among the Top 200 companies.
In ’03, full-value stock awards represented only about 29% of the total received by directors vs. 41.5% in ’08. The use of options dropped in half – from 63% prevalence in ’03 to 31% in ’08. Cash retainers now comprise almost 29% of the total package. Board meeting fees and stock option awards are far less prevalent director pay elements in ’08 as compared to ’03.