Proxy Season Heats Up as New Executive Compensation Rules are Effective and SEC Provides New Disclosure Guidance


With Spring just a few weeks away, it also means that the annual proxy statement season for calendar year public companies is in full swing. February 28th marked the effective date for the SEC's expanded executive compensation and corporate governance disclosure rules which we have previously reported on (see our December 18, 2009 blog).

In connection with the adoption of these new rules, the SEC's staff has regularly been updating its interpretive guidance (see for example our December 23, 2009 blog). Such guidance can be helpful to companies when questions arise regarding how to correctly comply with the SEC's regulations. Most recently, on March 1, 2010, the SEC's staff added/revised/withdrew various interpretations addressing proxy statement disclosure issues. The SEC's staff also previously added new executive compensation disclosure interpretations in January 2010 and February 2010.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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