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SEC Moves to Increase Disclosure of Executive Compensation

Date

January 18, 2006

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1 minute

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On Tuesday, January 17, 2006, the SEC voted to propose new rules requiring public companies to provide far greater detail about their executives’ compensation (including perquisites). These new rule proposals, which would be the biggest changes to executive compensation disclosure since 1992, could be formally adopted by the SEC sometime after a 60-day public comment period possibly in time for the 2006 spring annual-meeting season. Public companies for the first time would be required to provide tables in annual filings showing the total yearly compensation for their principal executive officer, principal financial officer, the three other highest paid executive officers, and the directors. In addition, the new disclosure rules would have a number of other effects, including:

  • The threshold for disclosing perquisites would be reduced from $50,000 to $10,000

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