Learn what you need to do about Dodd Frank - Be your companies leader on this topic
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Nearly everyone has the list of compensation-related changes from the Dodd Frank Act.
What should you be doing right now to get your company prepared?
Ed Hauder and I have created a no-nonsense presentation covering action items for each compensation provision.
Click here to register for the presentation to be held August 25, 2010. 2:00pm ET / 11:00am PT
Items covered include:
The Dodd-Frank Wall Street Reform and Consumer
Protection Act (Dodd-Frank) has several provisions that impact executive
compensation, including:
■
A
nonbinding shareholder vote on the compensation of executives as disclosed in
the proxy (“say on pay vote”) at least once every 3 years.
■
A
nonbinding shareholder vote on the frequency of the say on pay vote at least
once every 6 years.
■
A
nonbinding shareholder vote on golden parachutes.
■
Requirement
for most public companies to have only independent directors on their
compensation committees.
■
Requirement
for most public companies’ compensation committees to utilize only independent
compensation consultants and other advisers.
■
Mandate
for most compensation committees to be given authority to retain a compensation
consultant and independent legal counsel and other advisers, including fiscal
authority.
■
Requirement
for companies to disclose more information about executive compensation,
including:
Ø
Pay versus
performance;
Ø
Median annual
total compensation of all employees;
Ø
CEO’s annual
total compensation; and
Ø
Ratio of median
annual total compensation of all employees to that of the CEO.
■
Requirement
for public companies to implement a clawback policy.
■
Requirement
for companies to disclose their policy with respect to executive and director
hedging of company equity securities.
■
Making
covered financial institutions subject to enhanced compensation structure
reporting and prohibitions.
■
Eliminates
broker votes on director elections, executive compensation, or any other
significant matter, as determined by the Securities and Exchange Commission
(SEC), for uninstructed shares held by beneficial owners.
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