Week in Review - October 11, 2023
SEC on PvP: You’re Doing It Wrong
Welcome to this week’s news brief
The SEC issued new guidance on how companies should comply with its pay-versus-performance rule ahead next year’s proxy season. The bulk of the nine new C&DIs offer advice on addressing valuation issues and the impact of vesting terms when making calculations for the disclosure.
The C&DIs, while technical, follow a series of 18 letters to companies from SEC staffers on their approach to the disclosure. One lawyer described the guidance as taking boards “further down the rabbit hole” in how to make the necessary calculations.
Aircraft Perks Cost More
The median value of aircraft perks among S&P 500 companies has risen by 30% since 2020, according to data from ISS Corporate Solutions. This comes as more companies are allowing CEOs jet access, tying the perks to top execs’ personal security.
Further Reading
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