3.0.0 690 2023-01-15T23:03:27Z 2023-01-15T23:03:27Z Senate S S 2003-03-21 108 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2003-03-21T23:21:24Z 2003-03-21 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2003-03-21 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N Finance and Financial Sector Administrative procedure Commerce Corporation directors Employee stock options Executive compensation Government Operations and Politics Government paperwork Independent regulatory commissions Information disclosure (Securities law) Investors Labor and Employment Law Securities and Exchange Commission Securities regulation Stockholders Stocks Finance and Financial Sector 00 2003-03-21 Introduced in Senate 2003-07-17T14:48:29Z Prevention of Stock Option Abuse Act of 2003 - Instructs the Securities and Exchange Commission to promulgate stock option rules requiring a publicly traded corporation to: (1) obtain prior shareholder approval of stock option compensation plans; and (2) issue to directors or executive officers stock options that have a minimum five-year vesting period.

Mandates that such rules also: (1) stagger both the percentage of company stock sold by a director or executive officer and the time periods within which it may be sold; and (2) require quarterly corporate filings to include the total quantity of outstanding stock options held by senior management and staff, as well as a stock option status report.

]]> Prevention of Stock Option Abuse Act of 2003 Display Title Prevention of Stock Option Abuse Act of 2003 Official Title as Introduced A bill to prevent publicly traded corporations from issuing stock options to top management in a manner that is detrimental to the long-term interests of shareholders. Introduced in Senate IS Short Titles as Introduced Prevention of Stock Option Abuse Act of 2003 Introduced in Senate 2003-03-21T05:00:00Z 2003-03-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.