A recent Wall Street Journal article discusses key considerations for boards in setting and reviewing non-employee director pay. Gunster attorney Bob Lamm was tapped as a contributor for the article to discuss the leading practices for reviewing non-employee director pay. Lamm states that when reviewing the compensation program, it is important to use a consistent methodology and to document the observations and findings in a written report. He also mentioned that a board’s review may also take into account the frequency of board and committee meetings in relation to the level of compensation provided.
Lamm co-chairs Gunster’s securities and corporate governance practice. He frequently speaks and writes on securities law, corporate governance and related topics, including the “Bob’s Upticks” column on Gunster’s Securities Edge blog, and he serves on the board of editors of The Corporate Counselor.
Read the full article: On the board’s agenda: Time to review your director compensation program?