On August 5, the Securities and Exchange Commission (“SEC”) adopted final rules requiring most public companies to make pay ratio disclosures pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules require registered securities issuers to disclose:
- The median of the annual total compensation of all employees other than the principal executive officer (“PEO”).
- The annual total compensation of the PEO, as defined in Item 402 of Regulation S-K.
- The ratio of these two amounts.
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