• Proposed Stock Exchange Rules Impose New Shareholder Approval Requirements for Equity Compensation Plans
  • May 8, 2003
  • Law Firm: Pillsbury Winthrop LLP - Office
  • In October, 2002, the Securities and Exchange Commission (SEC) published for comment proposed rule changes by the New York Stock Exchange (NYSE) and The Nasdaq Stock Market (Nasdaq) that would require shareholder approval of all equity-compensation plans, including any material revision of those plans, with limited exceptions for inducement awards, plans relating to mergers or acquisitions, and tax-qualified and parallel nonqualified plans.