Firms to disclose more on executive pay?

SEC to vote on changes at heart of shareholder and public anger

Companies would have to disclose far more details about their executives’ pay packages and perks under a proposal coming before the Securities and Exchange Commission.

The changes address a source of shareholder and public anger: lavish pay for executives, often not fully and clearly disclosed to investors, even as their companies stumble and lay off employees.

The five SEC commissioners are scheduled to vote at a public meeting next Tuesday on the plan, which makes the biggest changes in rules governing disclosure of executive compensation since 1992. The proposal would be opened to a public comment period and could be formally adopted by the SEC sometime afterward — possibly in time for the spring company proxy season next year.

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