Table of Contents over the next few years, the Company adopted the following compensation arrangement for directors which will be evaluated on an annual basis: During 2020, Directors received grants of time-based restricted stock units (RSUs) on January 31, 2020 and August 14, 2020. The RSUs granted on January 31, 2020 reflect the initial equity grant made to directors following the Company’s emergence from Chapter 11 on July 1, 2019. These RSUs vest in three equal annual installments on July 1, 2020, July 1, 2021 and July 1, 2022. The RSUs granted on August 14, 2020 reflect the 2020 annual equity grant and vest in three equal annual installments on June 1, 2021, June 1, 2022 and June 1, 2023. Settlement of the RSUs granted on August 14, 2020 is deferred until the Director leaves Board service. The table below shows the current number of unvested RSUs held by each of our directors. Messrs. Benjamin, Chapman, Newlin, and Wulff, whose names appear on the Compensation Committee Report above, are not employed by Hexion Holdings. None of these directors is or has been an executive officer of the Company. None of our executive officers served as a director or a member of a compensation committee (or other committee serving an equivalent function) of any other entity, the executive officers of which served as a director or member of our Compensation Committee during the fiscal year ended December 31, 2020. COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION Name Unvested RSUs Carol S. Eicher 16,222  Patrick Bartels 16,222  Joaquin Delgado 16,222  Jeffrey D. Benjamin 20,445  James N. Chapman 16,222  Stephen D. Newlin 16,222  Michael J. Shannon 16,222  John K. Wulff 16,222  Compensation Type Amount ($) Regular Board Service Annual Cash Retainer 100,000 Regular Board Service Annual Equity Grant 110,000 Lead Director Annual Cash Retainer 130,000 Lead Director Annual Equity Grant 140,000 Audit Committee Chair Retainer 25,000 Compensation Committee Chair Retainer 20,000 Nominating & Governance Committee Chair Retainer 12,500 Environmental, Health & Safety Committee Chair Retainer 20,000 Listing Committee Chair Retainer 25,000 Audit Committee Member Retainer 10,000 Listing Committee Member Retainer 10,000 Compensation Committee Member Retainer 5,000 Nominating & Governance Committee Member Retainer 5,000 Environmental, Health & Safety Committee Member Retainer 5,000 Hexion Inc. |  150  | 2020 Form 10-K