Mr. Willingham chairs the Audit Committee $25,000
Mr. Willingham is a member of the Trust Advisory Board and Litigation Subcommittee $60,000
Mr. Willingham is a member of the Compensation Committee $5,000
Mr. Willingham is a member the Nominating and Corporate Governance Committee. $5,000
Not counting all the free shares MW HAS 547,886 shs and 95,000 a yr according to the committee filing and insider filings share holdings report and this time around they will get more shs due to the lower pps.
On August 13, 2013, each director received a grant of 98,039 shares of restricted stock, with each such grant having a fair market value of $100,000 as of the grant date.Narrative to Director Compensation Table
Director compensation has three components:
(1) annual cash retainer for board service;
(2) annual cash retainers based on committee chair positions and committee membership; and
(3) annual restricted stock grants. The annual cash retainer for board service was $100,000. Annual retainers for committee or chair service include:
(i) $10,000 for each non-Chair member of the Audit Committee;
(ii) $10,000 for each non-Chair member of the Corporate Strategy and Development Committee;
(iii) $5,000 for each non-Chair member of the Compensation Committee;
(iv) $5,000 for each non-Chair member of the Nominating and Corporate Governance Committee;
(v) $50,000 for being Chairman of the Board;
(vi) $25,000 for the Audit Committee Chair;
(vii) $25,000 for the Corporate Strategy and Development Committee Chair;
(viii) $12,500 for the Compensation Committee Chair and
(ix) $12,500 for the Nominating and Corporate Governance Committee Chair. All retainers were paid in quarterly installments, in advance, on the last day of the prior quarter. WMIHC also reimburses directors for their travel expenses for each meeting attended in person; however, reimbursement amounts are not included in the totals above.
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