In this installment of our Employee Benefits and Executive Compensation podcast series, Troutman Pepper Partners Jim Earle, Lynne Wakefield, and Lydia Parker discuss the impact of the Supreme Court’s decision in Loper Bright...more
Dodd-Frank clawback policies require covered companies to promptly recover any “erroneously award compensation” received by certain current or former “executive officers.” “Erroneously awarded compensation” refers to...more
6/25/2024
/ Clawbacks ,
Deferred Compensation ,
Dodd-Frank ,
Executive Compensation ,
Financial Statements ,
Form 8-K ,
Nasdaq ,
NYSE ,
Proposed Regulation ,
Proposed Rules ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On May 6, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Federal Housing Finance Agency (FHFA) issued a notice of proposed rulemaking and request for public comment to...more
5/15/2024
/ Credit Unions ,
Dodd-Frank ,
FDIC ,
FHFA ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Incentive Compensation ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Proposed Rules ,
Public Comment ,
Regulatory Agenda
Supplemental executive retirement plans (SERPs) and other forms of deferred compensation plans sometimes incorporate certain post-employment restrictive covenants for covered employees into the plan. ...more
The Setting Every Community Up for Retirement Enhancement Act (SECURE 1.0) requires plans to permit employees who work at least 500 hours but less than 1,000 hours in three consecutive 12-month periods to make elective...more
2/1/2024
/ 401k ,
Department of Labor (DOL) ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Full-Time Employees ,
IRS ,
Minimum Wage ,
Part-Time Employees ,
Proposed Regulation ,
Retirement Plan ,
SECURE Act
In the final installment of our three-part Employee Benefits and Executive Compensation podcast miniseries, hosts Jim Earle and Josh Gelfand discuss the basics of top-hat plans — what they are and the necessary steps to...more
Building on the foundation laid in the first episode, the second installment of this series delves deeper into the intricacies of noncompetes, drawing from other examples from The Office, this time specifically focusing on...more
In the first episode of this two-part series, our Labor + Employment and Employee Benefits + Executive Compensation practices join forces and provide a comprehensive overview of noncompete agreements. Troutman Pepper Partners...more
A board of directors of a Delaware company may delegate its authority to grant equity awards if certain requirements enumerated in the Delaware General Corporation Law (DGCL) are met. Effective August 1, 2023, updates were...more
Effective August 1, amendments (the 2023 amendments) to the Delaware General Corporation Law (DGCL) further update the framework under which a company's board of directors may delegate its authority to grant equity incentive...more
The New York Stock Exchange (NYSE) and Nasdaq amended their previously proposed clawback listing standards on June 5 and June 6 respectively to give listed companies until December 1 to adopt required clawback policies. On...more
6/14/2023
/ Capital Markets ,
Clawbacks ,
Compensation & Benefits ,
Consumer Protection Act ,
Dodd-Frank ,
Executive Compensation ,
Listing Standards ,
Nasdaq ,
NYSE ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Recent updates from the Securities and Exchange Commission (SEC) make it likely that companies will need to finalize clawback policies compliant with the Dodd-Frank Act by early August 2023....more
Overview On December 14, 2022, the Securities and Exchange Commission (SEC) adopted amendments and certain enhanced disclosure requirements related to Rule 10b5-1 trading plans. The new amendments include...more
Summary -
On October 26, the Securities and Exchange Commission (SEC) adopted final rules to implement Section 10D of the Securities Exchange Act of 1934, as added by Section 954 of the Dodd-Frank Wall Street Reform and...more
Effective as of August 1, amendments to the Delaware General Corporation Law (DGCL) update the framework under which a company’s board of directors may delegate its authority to grant equity incentive awards....more
On January 24, the U.S. Supreme Court, in a unanimous opinion, ruled in Hughes v. Northwestern University that offering an array of allegedly prudent investment choices within the plan does not serve as a categorial defense...more
Synopsis -
The Internal Revenue Service (IRS) released a Generic Legal Advice Memorandum, GLAM 2020-004 (the IRS Memo) dated May 18, 2020 addressing the timing of income and payroll tax withholding on three types of employee...more