Securities Client Alert: SEC Expands Shareholder Power to Propose Votes on Equity Compensation Plans.
8/5/2002
This Alert describes the changes set forth by the SEC's Division of Corporate Finance regarding its policy on shareholders' opportunities to propose votes on public company equity. The SEC changed and clarified its previous position that allowed a public company to rely on the "ordinary business matters exception" exclude from its proxy statement proposals relating to broad-based equity compensation plans. The Alert lists the different scenarios to which public companies can no longer apply that rule.
