The 12th annual Canadian Spencer Stuart Board Index (CSSBI), published by the global executive recruiting firm Spencer Stuart, studies director compensation, governance practices and trends for 100 of the largest publicly traded Canadian companies (annual revenues exceeding $1 billion) and includes comparisons with comparable U.S. firms.
The 2007 CSSBI features an analysis of independent director equity holdings. It shows that a typical independent director (i.e, one with 5 years of tenure) holds $650,567 worth of equity (common and deferred shares), significantly exceeding the usual minimum shareholding requirements established by boards of the companies that comprise the Canadian Spencer Stuart Board Index. The analysis also found that, when given the choice, over 70% of directors opted to receive equity in lieu of cash remuneration, with the majority choosing to take all of their compensation in equity.
For information about copying, distributing and displaying this work, contact permissions@spencerstuart.com.
(PDF - 3415KB)