Public companies may be able to keep nondiscriminatory group health and group life benefits out of the new executive compensation disclosures.
The U.S. Securities and Exchange Commission (SEC) has raised the topic of executive benefits in a proposed rule developed to implement Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Section 951 of the Dodd-Frank Act has added Section 14A to the Securities Exchange Act of 1934. The new section will require public companies to let shareholders participate in advisory votes on executive compensation and “golden parachute” compensation arrangements.