March 31, 2009
Just Announced: “4th Annual Proxy Disclosure Conference” & “6th Annual Executive Compensation Conference”
– Broc Romanek, CompensationStandards.com
We just posted the registration form for our popular conferences – “Tackling Your 2010 Compensation Disclosures: The 4th Annual Proxy Disclosure Conference” & “6th Annual Executive Compensation Conference” – to be held November 9-10th in San Francisco and via Live Nationwide Video Webcast. Here is the agenda for the Proxy Disclosure Conference (we’ll be posting the agenda for the Executive Compensation Conference in the near future).
Special “Half-Off” Early Bird Rates – Act by April 24th: We know that many of you are hurting in ways that we all never dreamed of – and going to a Conference is the last thing on your mind. But with huge changes afoot for executive compensation and the related disclosures, we are doing our part to help you address all these critical changes—and avoid costly pitfalls—by offering a “half-off” early bird discount rate so that you can attend these critical conferences (both of the Conferences are bundled together with a single price). So register by April 24th to obtain 50% off.
“Books & Records” Being Used to Check Compensation Committees
As noted in this NY Times’ article from Sunday, the Louisiana Municipal Police Employee Retirement System is using a books & records demand at Chesapeake Energy to determine whether the board met its fiduciary duties in approving a $75 million bonus, as part of a renegotiated employment contract with the CEO.
The CEO had lost 94% of his holdings in the company due to a margin call (when the company’s stock dropped 60%) – and he had an existing 5-year contract struck in ’07 that had not yet run its course when this new one was renegotiated. The books & records demand was the first step used in the Disney case a few years back.