SEC Document


Table of Contents

DIRECTOR COMPENSATION

 

 

Director Compensation for Fiscal 2017

The following table sets forth information regarding the compensation of our non-employee Directors for fiscal 2017. Frank C. Sullivan, our Chairman and Chief Executive Officer, does not receive any additional compensation for his service as a Director.

 

  Name
  (a)
  

Fees

Earned

or

Paid in

Cash

($)(1)

(b)

    

Stock

Awards

($)(2)

(c)

    

Option

Awards

($)

(d)

    

Non-Equity

Incentive

Plan

Compensation

($)

(e)

    

 

Change in

Pension

Value and

Nonqualified

Deferred

Compensation

Earnings

($)

(f)

    

All

Other

Compensation

($)

(g)

   

Total

($)

(h)

 
John P. Abizaid      90,000        111,342        0        0        0        0       201,342  
Bruce A. Carbonari      110,000        111,342        0        0        0        0       221,342  
David A. Daberko      105,000        111,342        0        0        0        2,500 (3)      218,842  
Jenniffer D. Deckard      90,000        111,342        0        0        0        0       201,342  
Salvatore D. Fazzolari      110,000        111,342        0        0        0        1,500 (3)      222,842  
Thomas S. Gross      90,000        111,342        0        0        0        0       201,342  
Craig S. Morford(4)      90,000        111,342        0        0        0        0       201,342  
Frederick R. Nance      90,000        111,342        0        0        0        2,500 (3)      203,842  
Charles A. Ratner(5)      67,500        111,342        0        0        0        0       178,842  
Thomas C. Sullivan(6)      45,000        0        0        0        0        0       45,000  
William B. Summers, Jr.      90,000        111,342        0        0        0        0       201,342  
Dr. Jerry Sue Thornton(4)(7)      90,000        111,342        0        0        0        2,500 (3)      203,842  

 

(1) Cash fees include fees for attending Board and Committee meetings in fiscal 2017 as well as the quarterly retainer amount for serving on the Board of Directors and as the chair for a committee during fiscal 2017. These cash fee amounts have not been reduced to reflect a Director’s election to defer receipt of cash fees pursuant to the Deferred Compensation Plan. These deferrals are indicated in note (4) below.

 

(2) The amounts set forth in this column reflect the fair market value of shares of restricted stock granted during fiscal 2017 under the 2003 Restricted Stock Plan for Directors.

 

   The unvested number of shares of restricted stock held by Directors under the 2003 Restricted Stock Plan for Directors at May 31, 2017 was as follows: Mr. Abizaid (7,300), Mr. Carbonari (7,300), Mr. Daberko (7,300), Ms. Deckard (4,800), Mr. Fazzolari (7,300), Mr. Gross (7,300), Mr. Morford (7,300), Mr. Nance (7,300), Mr. Summers (7,300) and Dr. Thornton (7,300). Dividends are paid on shares of restricted stock at the same rate as paid on our Common Stock that is not restricted. On October 31, 2016, shares of restricted stock awarded in 2013 vested and were delivered to the Directors.

 

(3) These amounts represent the dollar value that RPM matches of the Director’s charitable contributions made in accordance with our employee charitable contributions matching program. RPM matches a Director’s charitable contributions by up to $2,500 per year under this program, which is also available to RPM International Inc. employees. These amounts are not taxable to the Directors.

 

(4) During fiscal 2017, Mr. Morford elected to defer $90,000 of his Director fees and Dr. Thornton elected to defer $90,000 of her Director fees into our Deferred Compensation Plan.

 

(5) Mr. Ratner retired from the Board effective January 24, 2017.

 

(6) Thomas C. Sullivan retired from the Board effective October 6, 2016.

 

(7) Dr. Jerry Sue Thornton retired from the Board effective July 18, 2017.

 

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