Getting your player ready...
Washington – The Securities and Exchange Commission voted unanimously Tuesday for new rules to give shareholders more information on executive compensation, which has grown dramatically.
The tougher rules would force publicly traded companies to use “plain English” to disclose what they are giving top executives, including salary, severance payments, stock- option grants, retirement benefits and perquisites such as vacation trips in the corporate jet.
Shareholders would see a single dollar figure summing up all rewards.
The SEC will accept comments on the proposed reforms for 60 days. The reforms likely will be in effect by early 2007.
