Reasonable compensation for a director of a private, limited company?

Post date: 2022-09-28 04:37:59

This is a family based private limited company and from what I can tell the company is sitting on land in a small city, selling off parcels for development as offers are made.

I am the recipient of shares since the death of a parent and I never paid much attention to things when my parent was alive. I do have the strong impression that some of the siblings (grandchildren of one of the initial founders) felt that the concern is not managed as they'd like and they were not getting sufficient information. My own siblings and I are trying to understand things better, and we did ask about the annual compensation paid to the 5 directors ($20,000 each). I'm of a mind to continue not caring much, I'd have to fly across a lot of country to meet with any of the other directors and this is wealth I never earned.. From what I can see the assets will be liquidated sometime in the next several to 10 years?

If you have any knowledge of this world, feel free to chime in with any information you think is potentially useful or relevant.

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