U.S. Securities and Exchange Commission Adopts Final Say-On-Pay Rules
1 February 2011
Mayer Brown Legal Update
As required by the Dodd-Frank Act, On January 25, 2011, the Securities and Exchange Commission issued final regulations to implement advisory votes giving shareholders a “say-on-pay” for executive officer compensation, input on the frequency of such say-on-pay votes and a say-on-pay vote for “golden parachutes” in the context of change-in-control transactions. The rules also contain golden parachute disclosure requirements.