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Rankings
Review what independent directors cost, how the package is split, and how far the full board budget runs versus the CEO check in the same filing year.
This ranking only includes companies with a usable non-executive director table in the latest fiscal year, after executive-row filtering and basic board sanity checks.
Sort the filing table by any column, then open a ticker to inspect the full director compensation breakdown.
Methodology
Total board pay is the sum of compensation disclosed in each company's director compensation table, which appears in the annual proxy statement. This table covers directors who are not also named executives — typically independent, non-employee directors. Executive directors (such as a CEO who also sits on the board) are reported separately in the executive compensation tables and are not included here. Figures include cash fees, stock awards, option awards, and other compensation.
Cash/equity split is derived from the breakdown reported in the director compensation table. Cash includes retainer fees and meeting fees paid in cash. Equity includes stock awards and option awards.
Cost per meeting is an estimate: total board pay divided by 7 assumed annual meetings. Actual meeting frequency varies by company and is not always disclosed. This figure is for rough comparison only.
Board-to-CEO ratiocompares total board compensation to the CEO's reported total pay from the same fiscal year. A ratio of 0.50x means the entire board costs half of what the CEO earns.
FAQ
Board member compensation at public companies typically ranges from $200,000 to $400,000 per year for independent directors, though it varies widely by company size and industry. Total board pay includes cash retainers, stock awards, committee fees, and meeting fees. At the largest companies, total director compensation can exceed $500,000. Our rankings show the full range based on actual proxy filing disclosures.
Yes, most public company directors receive a significant portion of their compensation in equity. Stock awards typically make up 50-70% of total director pay at large companies. This aligns director interests with shareholders. The cash-versus-equity split varies by company -- some boards are nearly all-equity while others lean toward cash retainers. Our rankings show the cash/equity breakdown for each company.
Most public company boards hold between 4 and 10 regular meetings per year, with 6-8 being typical. However, boards may hold additional special meetings during major transactions, crises, or strategic reviews. Committee meetings (audit, compensation, nominating) add further commitments. Our cost-per-meeting estimate uses 7 assumed annual meetings as a rough benchmark for comparison.
Total board compensation for all independent directors combined is usually a fraction of what the CEO earns alone. In our current dataset, the median board-to-CEO ratio is about 0.20x, and most boards fall well below 0.5x. Boards that cost more than the CEO are rare and usually reflect either a large board or unusually modest CEO compensation.
Sources
All data sourced from SEC EDGAR proxy filings. Director compensation tables from annual proxy statements (DEF 14A). Data processed and validated by rentseek.ing.
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