Board of Director new retainer fee at Sprint/Nextel

Sprint Nextel To Pay Its Directors $70,000/Year Retainer Fee

WASHINGTON -(Dow Jones)- Sprint Nextel Corp. disclosed Friday that all of its directors will receive an annual retainer fee of $70,000.

According to a document filed with the Securities and Exchange Commission, the directors, who were selected at the company's annual shareholders meeting Tuesday, also will receive an annual award of $100,000 in restricted stock units.

Also, Sprint Nextel said that lead directors will receive an additional retainer of $75,000.

Directors serving on committees will receive additional fees, according to the filing.

Separately, the compensation committee of Sprint Nextel's board established a security plan for Executive Chairman Timothy Donahue. The security plan was recommended by an independent security consultant and requires Donahue to use company aircraft instead of commercial aircraft for all travel, including personal travel.