Aimco Directors Getting Shares, Meeting Fees

DENVER-Apartment Investment and Management Co. independent directors James N. Bailey, Richard S. Ellwood, J. Landis Martin, Thomas L. Rhodes and Michael A. Stein will receive 4,000 shares as compensation.

By John Rebchook | February 09, 2005 at 06:37 AM

According to a document Aimco filed with the Securities and Exchange Commission, a fee of $1,000 will be paid to each of the independent board members for each meeting they attend. The compensation is consistent with the 2004 compensation for Aimco's independent directors, the company says.

Terry Considine, chairman of the company, is the only Aimco director who is not independent, as he also is a member of management. He does not receive any additional shares or money as do the other directors.

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