XM Radio 2015 Annual Report Download - page 32
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As Chairman of the board of directors, in 2015, Mr. Maffei received an annual cash retainer of
$150,000. Mr. Hartenstein, our lead independent director, also received an annual cash retainer of
$150,000. The other non-employee members of our board of directors each received an annual
cash retainer of $100,000. Each director who served as chair of a committee of the board of
directors in 2015 received an additional annual cash retainer as follows: the Audit Committee
chairwoman received $30,000; the Compensation Committee chairman received $20,000; and the
Nominating and Corporate Governance Committee chairman received $10,000.
In addition, each member received an equity-based award with a grant date value equal to
approximately $75,000 in the form of options to purchase our common stock. The options were
granted on the business day following the 2015 annual meeting of stockholders. All options to
purchase our common stock awarded to our non-employee directors vest over a four-year period,
with 25% vesting on each anniversary of the date of grant. Each member also received unrestricted
shares of our common stock which immediately vested with a grant date value of approximately
$25,000 on the business day following the 2015 annual meeting of stockholders.
We also pay reasonable travel and accommodation expenses of directors in connection with
their participation in meetings of the board and committees thereof.
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