Roxgold Inc. (TSXV:ROG) announced a Deferred Share Unit (DSU) Plan to promote the alignment of interests between directors and shareholders while enabling non-executive directors to participate in the long term success of the Company through the grant of DSUs.
As quoted in the press release:
The DSU Plan provides that our non-executive directors may receive, at the discretion of the Board, a portion of their compensation in DSUs, and may also elect to receive all or a portion of any of their cash compensation in DSUs. DSUs will be priced at the greater of the five day volume weighted average price of the common shares of the Company over the last five trading days preceding the grant, and the closing price of the common shares of the Company on the last trading day preceding the grant. DSUs will be settled in cash at the time of the director’s retirement from all positions with the Company. The Board has approved the grant of $100,000 in DSUs to each non-executive director, other than the Chairman of the Board, who has declined all forms of equity compensation.