SEC Votes to Give Shareholders Say on Pay for Top Executives

Last week, on Jan. 25, 2011, the SEC adopted rules concerning shareholder approval of executive compensation and "golden parachute" compensation arrangements as required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. More specifically, the SEC voted 3-2 (along party lines) to enact the say-on-pay measure that will subject compensation plans to non-binding shareholder votes as often as once a year and at the very least once every three years. In addition, the new rule also requires enhanced disclosure on so-called golden parachute payments for executives whose companies are acquired, subjecting them to shareholder advisory votes along with the takeover agreements. For further information see SEC Press Release, dated Jan. 25, 2011, entitled "SEC Adopts Rules for Say-on-Pay and Golden Parachute Compensation as Required Under Dodd-Frank Act" and Bloomberg.com article, dated Jan. 25, 2011, entitled "SEC Gives Shareholders Vote on Pay for Companies' Top Executives."

Read more detail on Recent Banking and Finance Law Posts –

Legal notice about the SEC Votes to Give Shareholders Say on Pay for Top Executives rubric : Hukuki Net Legal News is not responsible for the privacy statements or other content from Web sites outside of the Hukuki.net site. Please refer the progenitor link to check the legal entity of this resource hereinabove.

Do you need High Quality Legal documents or forms related to SEC Votes to Give Shareholders Say on Pay for Top Executives?

This entry was posted in Banking and Finance law and tagged , , , . Bookmark the permalink.

Leave a Reply