Executive Compensation

News & Analysis as of

Ontario Court Of Appeal Upholds Finding of Breach of Fiduciary Duty Respecting Executive Compensation

The Ontario Court of Appeal recently upheld a trial court decision which concluded that the CEO, who was also a director, breached his fiduciary duty to the corporation when the directors of Unique Broadband Systems, Inc....more

Let’s Shake On It: Texas Case Exemplifies the Perils of Adopting a Company-Wide Practice of Oral Agreements

An opinion out of the Fourteenth Court of Appeals demonstrates why employers need to be weary of developing a practice of oral agreements in regards to compensation upon which at-will employees may detrimentally rely. The...more

Court of Appeal Clarifies Directors’ Fiduciary Duties and the Business Judgment Rule for Executive Compensation Matters

The Court of Appeal for Ontario recently affirmed the nature of directors’ and officers’ fiduciary duties and clarified the application of the business judgment rule in the context of a dispute regarding executive...more

Combination Bonus and Deferral Plan Subject to ERISA

The Fifth Circuit Court of Appeals held that a deferred compensation plan through which key employees received annual bonuses and were able to defer both bonuses and other income was an “employee pension benefit plan”...more

Julie Friedman v. Dara Khosrowshahi, et al., C.A. No. 9161-CB (Del. Ch. Jul. 16, 2014) (Bouchard, C.)

In this memorandum opinion, the Court of Chancery granted the defendants’ motion to dismiss a stockholder’s complaint, challenging the accelerated vesting of the CEO’s restricted stock units based on an alleged violation of...more

Financial Regulatory Developments Focus - July 2014 #3

In this issue: - Derivatives - Compensation - Bank Prudential Regulation and Regulatory Capital - Recovery & Resolution - Credit Ratings - Insurance - Financial Services...more

Risk Planning and Board Liability

Board members are in the hot seat, or to put it another way – they are in a hot kitchen. The question is whether they can stand the heat of the hot kitchen....more

Raul v. Astoria Fin. Corp., C.A. No. 9169-VCG (Del. Ch. June 20, 2014) (Glasscock, V.C.)

In this memorandum opinion, the Court of Chancery granted defendant’s motion to dismiss, finding that plaintiff was not entitled to attorneys’ fees under the corporate benefit doctrine because plaintiff had not presented a...more

Executive Compensation Strategies to Win New Business

In This Presentation: - How To Position Your Business To Reap The Benefits Of A Liquidity Event - Long-Term Incentive Compensation - Retirement Plan Design & Best Practices For Government Contractors...more

Is Proxy Disclosure Shareholder Litigation on Executive Compensation Finally Over?

Since the advent of “Say-on-Pay” over three years ago, the plaintiffs’ securities bar has attempted to rustle up claims relating to executive compensation matters discussed in proxy statements. The first wave against those...more

If Fee-Shifting Bylaws Are Ever Put On Trial, This Case Should Be Exhibit A

Item 5.07(d) of Form 8-K requires issuers to disclose “the company’s decision in light of such vote as to how frequently the company will include a shareholder vote on the compensation of executives in its proxy materials...more

High Tax Rates Spur the Allure of Deferred Compensation

There are a number of reasons why executives choose to defer the payment of current compensation under a nonqualified deferred compensation plan. For example, some executives do not need the compensation to be paid...more

Financial Regulatory Developments Focus - June #3

In this issue: - Compensation - Capital and Prudential Regulation - Bank Structure - Financial Services - Consumer Protection - Enforcement - People - Events...more

An Appreciation for Hedging Your Bets on Deferred Compensation: IRS Issues Revenue Ruling 2014-18 Under Section 457A of the...

Under Section 457A of the Internal Revenue Code of 1986 (the “Code”), certain offshore and other entities are limited in their ability to provide tax-effective deferred compensation to providers of services to those entities....more

Tell the Comp Committee and Consultants the Auditors Will be Calling

We previously described a PCAOB reproposal regarding audit procedures for related party transactions. A suggested audit procedure consisted of “Inquiries of the compensation committee chair and any compensation consultant...more

HEAL Advisory: Recent Decision Casts More Uncertainty Over New York Executive Order 38's Cap on Executive Compensation

With so many questions surrounding the implementation of the New York State ("NYS" or "State") Governor's Executive Order 38 cap on executive compensation (and administrative expenses), most stakeholders expected...more

Federal Acquisition Regulation: Expansion of Applicability of Senior Executive Compensation Benchmark

Effective May 30, 2014, the DoD, GSA, and NASA adopted as final an interim rule that updates FAR 31.205-6(p), “Limitation on allowability of compensation for certain contractor personnel.”...more

Prepare to Attract Rock Stars from Day One: A Framework for Considering Equity Compensation in the C-Suite

As your company grows, you may reach a point when you want to bring in big talent, whether it be a new CFO, Director of Marketing, or someone to take your brand into a new space. Many of these so-called “rock stars” may be...more

"Executive Compensation and Benefits Alert: IRS Section 409A Audit Initiative May Signal Increased Enforcement Activity"

Since the adoption of Section 409A of the Internal Revenue Code, employers and practitioners have wondered when and how the IRS would enforce it. With the recent IRS announcement of an audit initiative with respect to Section...more

An Epic Question: Is This Pay Ratio Too Large, Too Small or Just Right?

California’s corporate tax rate is currently 8.84%. According to the California Taxpayer’s Association, only nine states (Alaska, Connecticut, Illinois, Iowa, Maine, Minnesota, New Jersey, Pennsylvania and Rhode Island) have...more

HUD challenge to executive compensation

On Friday, May 16th, HUD released compensation data from the 2013 Executive Compensation Survey, in which Public Housing Agencies (PHAs) were required to report salary information from their top 3 management officials and...more

Why Urge Pay For Performance And Then Ignore Performance?

CalPERS’ Global Principles of Accountability for Corporate Governance declare: Compensation programs are one of the most powerful tools available to the company to attract, retain, and motivate key employees to...more

New York Court Strikes Down Regulations Limiting Executive Compensation and Administrative Expenses

A New York court has held that the State’s regulatory limits on executive compensation and administrative expenses for entities that receive state funds unconstitutionally exceed proper regulatory authority. The regulations,...more

New York Court Strikes Down Regulations Limiting Executive Compensation and Administrative Expenses

A New York court has held that the State’s regulatory limits on executive compensation and administrative expenses for entities that receive state funds unconstitutionally exceed proper regulatory authority. The regulations,...more

Whistleblower retaliation exposes Playboy to $6 million liability

A federal jury recently ordered Playboy Enterprises to pay $6 million to a former accounting executive who was wrongfully terminated in retaliation for blowing the whistle internally on what she perceived was improper...more

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