7/26/2006

What's In Your Boss's Wallet?

SEC: Exec pay must be easier to see
Companies would have to report bottom line compensation

Washington — Companies would have to provide more details of their executives' pay and perks under a plan being adopted by federal regulators. And amid a widening scandal over suspect timing of stock option grants to company officials, the Securities and Exchange Commission also is writing new rules on disclosure of the dating of options.

The planed regulations amount to the biggest changes governing disclosure of executive compensation since 1992. For the first time, public companies will be required to furnish tables in annual filings showing the total yearly compensation for their chief executive officers, chief financial officers and the next three highest-paid executives.

The plan is designed to enhance corporate transparency and address an issue that has angered company shareholders and the public. In expanding probes, at least 60 public companies have disclosed that their options practices are being investigated by the SEC or the Justice Department or both, and the SEC itself says it has at least 80 companies under scrutiny.

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1 comment:

What A Hooter said...

Do they work for "tips?"