Director pay up 12%

Average board-member compensation climbed about 12 percent in 2006, to a mean of $160,439, according to a new study from Institutional Shareholder Services. Median pay increased 10.5 percent, to $143,123.

The increase was driven by a 16 percent rise in the value of equity-based compensation, according to the ISS, while the cash portion of a typical pay package rose just 5.2 percent. The study also observed, however, that stock options have a diminishing role in director compensation. (