Update on Say on Pay Litigation
Program Number: 2326
Presenter: Michael Thompson, Esq., Courtney Worcester, Esq.
Two years ago the Dodd-Frank Wall Street Reform and Consumer Protection Act created Section 14A of the Securities Exchange Act of 1934, which required certain public companies to conduct a shareholder advisory vote on executive compensation. Smaller issuers, those with a public float of less than $75 million, were exempt for two years. That exemption has now expired, meaning that these companies are now facing their first shareholder advisory vote. Luckily, they and their counsel can learn from their larger counterparts' mistakes and successes over the past two years. Join Michael Thompson and Courtney Worcester as they provide an update on say on pay litigation, discuss what guidance companies and their counsel can draw from that litigation, and provide advice for how to survive that first vote (and what to do if they don't).