Rovi Cuts Compensation For Outside Directors - Quick Facts

(RTTNews) - Rovi Corp. (ROVI) announced its Board has approved new compensation arrangements reducing overall compensation for its outside directors. The net effect of these changes is a reduction of each element of director cash compensation to the 50th percentile, and a reduction of the equity compensation from $220 thousand to $160 thousand per year, which is in-line with the median of the company's peer group.

Andrew Ludwick, Chairman of the Board, said: "The Board's evaluation of overall Director compensation reflects recent constructive conversations we have had with a number of Rovi stockholders. As we changed our peer group last year to better reflect the Company's current size and market capitalization following the sale of DivX, existing director compensation became outsized relative to our new peers. We have taken steps to reset the compensation arrangements for the entire 2015 year, effective immediately."