In addition to today’s Section 162(m) litigation webcast, tune in tomorrow for the webcast – “Executive Compensation Litigation: The Latest Developments: Your Upcoming Proxy Disclosures” – to hear Mark Borges of Compensia, Alan Dye of Hogan Lovells and Section16.net, Dave Lynn of CompensationStandards.com and Morrison & Foerster and Ron Mueller of Gibson Dunn discuss all the latest guidance about how to overhaul your upcoming disclosures in response to say-on-pay–including the latest SEC positions–and the other compensation components of Dodd-Frank, as well as how to handle the most difficult ongoing issues that many of us face.
Tune in tomorrow for the webcast – “Executive Compensation Litigation: Section 162(m) Disclosures”” – to hear McDermott Will’s Andrew Liazos, Shearman & Sterling’s Doreen Lillenfeld and Winston & Strawn’s Mike Melbinger as they drill down on how Section 162(m)-related lawsuits are faring and what you can do to avoid them.
Last week, Nasdaq announced that it has posted the final form of its compensation committee certification on its Listing Center. Anyone can view a blank form in the preview mode – and a Listing Center user can log in to complete the form online on behalf of a company. As I’ve blogged, Nasdaq previously had posted only a preview of the certification form…
Tune in tomorrow for the webcast – “Executive Compensation Litigation: Proxy Disclosures” – to hear Pillsbury’s Sarah Good, Wilson Sonsini’s Ignacio Salceda and Dave Thomas and Fenwick & West’s Scott Spector discuss what is involved in the latest rash of executive compensation-related lawsuits, as well as how to handle them.
Did you see this Bloomberg article on “Realized” vs. “Realizable” pay? And as noted in this Cooley news brief, the NACD recently issued a paper on this topic…
Over the past few weeks, I have highlighted some of the 115,000 comment letters sent to the SEC on its pay ratio proposal from investors and companies. Here are a few more to consider:
France’s Constitutional Council – the country’s highest court – gave the go ahead on Sunday for President François Hollande’s “Millionaires’ Tax”, a 75-percent levy to be paid in 2013 and 2014 by companies on their portion of wages exceeding 1 million euros ($1.38 million). The new tax was part of Hollande’s campaign promise to make France fairer for the middle class by making the wealthy do their fair share to help France’s struggling economy.
Hollande’s initial plan called for a 75-percent tax to be paid by high earners on the part of their incomes exceeding 1 million euros was struck down in December 2012 by members of the Constitutional Council, who argued that 66 percent was the legal maximum for individuals. Hollande’s Socialist government reworked the tax to levy it on companies instead, infuriating corporate leaders.
The new plan, which the Council found constitutional Sunday, will be an exceptional 50 percent levy on the portion of wages exceeding 1 million euros paid in 2013 and 2014. Including social contributions, its rate will effectively remain roughly 75 percent. The Council, a court made up of judges and former French presidents, has the power to annul laws if they are deemed to violate France’s constitution.
Last month, MGP Ingredients became the 73rd failure in ’13 with 21% support (Form 8-K) – and Syntroleum became the 74th with 49% support (Form 8-K). Thanks to Karla Bos! And that’s our finals for ’13…