We already know F5 Networks executives have been well compensated by stock options. Turns out the special committee formed to investigate its questionable stock option practices will be compensated well, too.
Each member will be paid $750 for each meeting attended in person or by phone, according to a recent F5 filing with the Securities and Exchange Commission. That’s in addition to fees paid to the directors for sitting on the board and for attending board meetings or meetings of board committees.
Last month F5 received a warning of potential delisting from Nasdaq because the company failed to file its third quarter earnings report on time. In July F5 said it would restate earnings for the past five years as a result of issues with past stock option grants. It identified at least one instance of improperly timed options.
Three shareholder lawsuits are pending.