Company: CRWS
Filing Date: 2025-06-27
Form Type: DEF 14A
Source: 0001437749-25-021381
Chunk: 23

Company: CROWN CRAFTS INC
Filing Date: 2025-06-27
Form: DEF 14A
Chunk 23
---
 the year after the grant year.

The table below sets forth the compensation program approved by the Board for our non-employee directors for fiscal year 2025. For fiscal year 2025, the annual chair fee for: (i) the Audit Committee Chair was increased from $12,000 to $20,000; and (ii) each of the Nominating, Governance and Ethics Committee Chair and Capital Committee Chair was increased from $4,500 to $5,000. In addition, for fiscal year 2025, the annual equity retainer was increased from $75,000 to $100,000.

| Annual Cash Retainer/Fee 
 (paid monthly)           |        |                                             | Position                                          |
|:-------------------------|-------:|:--------------------------------------------|:--------------------------------------------------|
| $                        | 50,000 | Annual Retainer                             | Board Members                                     |
| $                        | 50,000 | Supplemental Annual Retainer                | Non-Executive Chairman of the Board               |
| $                        | 20,000 | Annual Chair Fee                            | Audit Committee Chair                             |
| $                        | 10,000 | Annual Chair Fee                            | Compensation Committee Chair                      |
| $                        |  5,000 | Annual Chair Fee                            | Nominating, Governance and Ethics Committee Chair |
| $                        |  5,000 | Annual Chair Fee                            | Capital Committee Chair                           |
| $                        |  1,000 | Meeting Fee Per Committee Meeting Attended* | Each Committee Member                             |
| Annual Equity Retainer   |        |                                             |                                                   |

| ● | Annual grant of restricted stock made pursuant to the 2021 Plan, with a value as recommended by the Compensation Committee and approved by the Board. The restricted stock vests upon the earlier of: (i) the one-year anniversary of the grant date; and (ii) the date immediately preceding the date of the annual meeting of stockholders which is held in the year after the grant year.                                                                                                                                                  |
| ● | For fiscal year 2025, in August 2024 each non-employee director received a grant of 20,294 shares of restricted Common Stock with a grant date value equal to $94,976. The number of shares issued was determined by dividing $100,000 by the average closing price of the Common Stock as reported on Nasdaq for the twenty trading days prior to the date of the 2024 Annual Meeting. The shares of restricted stock vest upon the earlier of: (i