3.0.0 1181 2023-01-11T19:41:14Z 2023-01-11T19:41:14Z Senate S S 2007-04-20 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-04-20T18:30:25Z Shareholder Vote on Executive Compensation Act 110 1257 HR 2007-04-23 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2007-04-20 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2007-04-20 Introduced in Senate IntroReferral 10000 9 Library of Congress O000167 Sen. Obama, Barack [D-IL] Barack Obama D IL N H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD 2007-04-25 False D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2007-04-25 False K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2007-04-26 False B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2007-04-30 False L000261 Sen. Levin, Carl [D-MI] CARL LEVIN D MI MILTON 2007-05-03 False J000177 Sen. Johnson, Tim [D-SD] TIM JOHNSON D SD 2007-06-04 False R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2008-02-25 False M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2008-09-11 False Finance and Financial Sector Administrative procedure Commerce Corporate management Corporate mergers Corporate reorganizations Executive compensation Golden parachutes Government Operations and Politics Independent regulatory commissions Information disclosure (Securities law) Labor and Employment Law Securities and Exchange Commission Securities regulation Stockholders Voting Finance and Financial Sector 00 2007-04-20 Introduced in Senate 2007-06-07T17:33:35Z Shareholder Vote on Executive Compensation Act - Amends the Securities Exchange Act of 1934 to require a proxy, consent, or authorization for a shareholder meeting occurring on or after January 1, 2009, to permit a separate shareholder vote to approve executive compensation.

States that such shareholder vote shall not be binding on the board of directors, nor construed: (1) as overruling a board decision; (2) to create or imply additional fiduciary duty by such board; and (3) to restrict or limit shareholder ability to make proposals for inclusion in proxy materials related to executive compensation.

Requires proxy solicitation material for a shareholder meeting occurring on or after January 1, 2009, concerning disposition of substantially all of an issuer's assets, to disclose compensation agreements or understandings with the principal executive officers of either the issuer or acquiring issuer regarding any type of (golden parachute) compensation which: (1) relates to such disposition; and (2) has not been subject to a shareholder vote.

Provides that proxy solicitation material containing such executive compensation disclosures shall require a separate shareholder vote to approve such agreements or understandings.

States that such shareholder vote shall not be binding on the board of directors, nor construed: (1) as overruling a board decision; (2) to create or imply additional fiduciary duty by such board; and (3) to constrain shareholder ability to make proposals for inclusion in proxy materials related to executive compensation.

]]> Shareholder Vote on Executive Compensation Act Official Title as Introduced A bill to amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation. Introduced in Senate IS Display Title Shareholder Vote on Executive Compensation Act Short Titles as Introduced Shareholder Vote on Executive Compensation Act Introduced in Senate 2007-04-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1181is/xml/BILLS-110s1181is.xml 2007-04-20 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.