Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Non-Employee Board of Director Compensation Policy
On June 8, 2020, the Board of Directors of Sharps Compliance Corp. (the
"Company", "Sharps" or "we") approved a change to the Board of Directors (the
"Board") compensation for the Company's non-employee directors effective for the
period from October 1, 2020 through September 30, 2021. Under the revised plan,
the directors equity portion of their compensation changes from a designated
number of restricted stock awards to an equivalent stated dollar amount of
$112,500 per member. The number of shares will be determined based on the market
value of the Company's common stock on the close of the first business day after
September 15th of each year. The revised Board compensation for the Company's
non-employee directors effective for the period from October 1, 2020 through
September 30, 2021, with cash paid quarterly, shares issued effective on October
1, 2020 and shares vesting quarterly follows:
Non-Employee Board of Directors Compensation Chair of the Board Board Member
Quarterly Cash Retainer ($)
$18,750 $12,500
Value of Restricted Shares Awarded Annually ($):
Board Membership $112,500 $112,500
Chair of the Board $56,250
Item 9.01. Financial Statements and Exhibits.
(a) Financial Information
Not applicable
(b) Pro Forma Financial Information
Not applicable
(c) Exhibits
None
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