NYSE Releases Shareholder Approval Requirements

Topics:
Stock Options
Tags:
Compensation,
Finance,
Financial Accounting,
Frederic W Cook,
New York Stock Exchange,
Shareholder
Source:
Frederic W Cook

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Overview: The New York Stock Exchange has released its long-awaited final rules regarding shareholder approval requirements applicable to equity compensation plans. The final rules shift the balance of power regarding share dilution away from the Board of Directors in favor of shareholders by confirming several expected changes to existing provisions, including elimination of historic exemptions from the shareholder-approval rules applicable to broadly-based plans and the use of Treasury shares, as well as requiring shareholder approval of all repricings. The final rules also clarify those deferred Compensation arrangements and other programs in which participants pay full fair market value for shares do not require shareholder approval. c

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Format: PDF | Size: 174KB | Date: Jul 2003 | Pages: 6

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