The long-awaited final rules from the SEC on executive compensation reform were released yesterday and are available here. The 436-page sure cure for insomnia contains both the final rules on most of the disclosure issues in the proposed rules and also requests additional comments on the so-called Katie Couric disclosure.
With respect to the requested additional comments, the SEC states: "We also solicit additional comments regarding the proposed disclosure requirement of the total compensation and job description of up to an additional three most highly compensated employees who are not executive officers or directors but who earn more than the named executive officers. In particular, we have specific request for comment as to whether the proposal should be modified to apply only to large accelerated filers who would disclose the total compensation for the most recent fiscal year and a dscription of the job position for each of their three most highly compensated employees whose total compensation is greater than any of the named executive officers, whether or not such persons are executive officers.
See full Article.
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