The board of directors of Verso Technologies have agreed to work another year without any cash compensation, taking company stock instead.

Verso (NASDAQ: VERSO) provides networking solutions. Shares closed at $1.17 on Wednesday.

Board members will receive 60,000 shares of restricted stock. The shares vest over a five-year period.

“We are unusual for a public company in that our directors receive no cash compensation of any kind and never have,” said Steve Odom, the firm’s executive chairman. “We feel that compensating our directors in the form of equity also serves to ensure alignment with the interests of our shareholders.”

Verso: www.verso.com