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SEC Issues New Interim Final Rule on Stock Compensation Disclosures: Affects Early 2007 Filings and Can Change Who Is Reported as a “Named Executive Officer”
December 26, 2006 Full PDF
On December 22, 2006, the SEC adopted a new rule on how to report officer and director compensatory stock and option awards. When published in the Federal Register, the new rule will, in effect, retroactively be made part of the executive compensation disclosure rule changes adopted in July 2006 and will have the same effective dates as the July 2006 rule changes. For many companies, this late December rule change will affect proxy statements and annual reports due in early 2007. The SEC is soliciting comments on this interim final rule, so there could be even more changes soon.