Directors’ Compensation Policy

SOCAN’s Directors’ Compensation Policy is positioned as to recognize:

  • the demands placed on elected Directors by their fiduciary duties
  • the special nature of SOCAN as a not-for-profit member owned organization and
  • the responsibility associated with the stewardship of a $250+ million organization with 300 employees and offices across Canada

To this effect, SOCAN positions its Directors’ compensation by reference to the compensation paid by a group of Canadian publicly listed financial sector organizations with annual revenues of $100 million to $500 million.

The median compensation paid by these organizations (50th percentile) is discounted by at least 25 to 40% to reflect the unique character of the organization in order to arrive at the compensation to be paid to SOCAN Directors.

Every three years, the outgoing SOCAN Board of Directors obtains relevant market data from a reputable, independent compensation consultancy organization and uses that information to establish the compensation of the incoming Board for the following term in accordance with the above policy.