Other than the July 2 bonus, the stock compensation for Dunham and the other directors is restricted. About one-quarter of the shares are available immediately. Another 25 percent of the stock award is available each year for the next three years.
Chesapeake announced in May that it had cut compensation for outside board members by 20 percent and eliminated the personal use of company planes. Previously, Chesapeake directors received a total compensation package of about $550,000, including cash, stock and the use of Chesapeake aircraft, according to regulatory filings.