GREY:TSTIF - Post by User
Comment by
echo2on Apr 26, 2019 1:43pm
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Post# 29675740
RE:The Board
RE:The BoardJust FYI, the company circulars on Sedar state the previous compensation for directors (chair retainer $45,300 and member retainer $22,650 plus meeting fee of $1,133 in person and $566 by phone) for 2017. There was increase in retainers effective May 1st, 2018 withg the Board retainer becoming $58,000 and the member retainer $35,000.
However, meeting fees are no longer paid to directors, and given that there were 10 meetings of the Board both in 2018 and 2017 this actually results in less compensation in 2018.
Total compensation of directors for the year 2017 (including share based compensation) was $685,378 and for the year 2018, $599,035. (This includes compensation to members of the Special Committee of $4,000 a month from May to December in 2018 and in 2017 this was paid for only for 2-3 months.)
This is actually a decline in total board compensation from 2017 to 2018 of $86,000, or a decrease overall of 12.5%. (Athough their retainers increased, because they are no longer paid for meetings, the total compensation actually declined last year.) Just to clarify and correct some erroneous rumours being circulated.