it’s about time. if you are the C-whatever of a publicly-traded company, your salary and other compensation should be required as part of SEC filings.
Posted by Christopher on 12/31/1969 at 03:00 PM
TV Stars, Sports Heroes and, Um, Bankers Exposed
Thursday, January 19, 2006 - 9:27 am
As the Times points out this morning, Katie Couric, Chipper Jones and JP Morgan banker James Lee all have something in common: Their pay packages may soon be open to public scrutiny under the SEC’s proposed compensation disclosure reforms:
Current rules require that companies disclose the compensation of the chief executive and the next four highest-paid executives in management. The new rule, which is expected to be adopted in a few months, will require companies to disclose the pay, severance, bonus, stock and option grants, and retirement packages of the chief executive, the chief financial officer, the next three highest paid executives - and as many as three other employees who receive more than any of the first five.
The proposal permits companies to omit the identity of any the three highly compensated employees and simply list their job titles. But it is likely to sweep in stars like Ms. Couric, Mr. Jones and Mr. Lee as well as highly successful bond traders, top salesmen, studio heads, financiers and athletes.
Look Who Is Making the Most [NY Times]
Comments:
I believe the Times is a day late and a dollar short. The “extra three” provision does not appear to be in the announced SEC requirement after all.
Posted by on 12/31/1969 at 03:00 PM
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