On December 22, 2006, in an effort to provide investors with a more complete and useful picture of executive compensation, the Securities and Exchange Commission (SEC) adopted, as interim final rules, amendments to the recently adopted disclosure requirements for executive and director compensation. The amendments change how stock awards and option awards are to be reported in executive compensation disclosure tables required to be set forth in annual reports on Form 10-K, proxy statements and information statements, and in registration statements that require disclosure pursuant to Item 402 of Regulation S-K. These interim final rules became effective December 29, 2006.

See this Mintz Levin publication for background on these amendments and revisions to executive and director compensation tables.