The recovery act contains much publicized measures on Executive Compensation for companies in the financial industry but it is fair to say that the crisis itself is going to have an impact on how decisions are made for Executive Compensation.
There is some expectation that the crisis may five a boost to the “Say on Pay” provisions . The number of say-on-pay proposals have increased in each of the last 3 years and the number of proposals this year is already above the previous three years combined. The opponents of the Say-on-pay proposals argue that these provisions are unnecessary because the disclosure rules have already made the shareholders and the board more knowledgeable in the pay matters and less likely to be blindsided by executive pay decisions. In any case, the scrutiny that shareholders and boards exercise on the levels of the pay packages, the linkage between pay for performance and the severance packages in only going to increase. It will be compounded by the fact that the crisis has reinforced the American public in the opinion that their CEOs are overpaid. The pressure from your Compensation Committee to provide more in-depth, totally independent advice on your Executive Pay Packages in not going away any time soon.
There will be more news and experiences to share as time passes and next year proxy season sure promises to be thrilling !
Tell us what you think, share your experience and your questions by posting a comment .
For more info on the specific measures of the Recovery Act on Executive Compensation, CLICK HERE
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