Proskauer's Employee Benefits & Executive Compensa

JANUARY 9, 2024

This update makes several changes to how the proxy advisory firm will evaluate company policies related to executive compensation. Institutional Shareholder Services (“ISS”) also released updates to its voting policies for 2024, including new and updated responses to its Compensation Policies FAQ.

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Proskauer's Employee Benefits & Executive Compensa

MARCH 23, 2023

Although these final rules generally became effective on January 30, 2023, they are currently being challenged both in the courts and in Congress. Listen to the podcast Tanusha Yarlagadda: Hello and welcome to The Proskauer Benefits Brief: Legal Insights on Employee Benefits and Executive Compensation.

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401(k) Executive Compensation Government Management 104

Employee Benefits

JANUARY 26, 2024

This is driven by the adoption of environmental and climate metrics, which has risen from 21% in 2020 to 56% in 2023. In Canada, this is due to employers adding environmental and climate metrics to their L-tips, while 70% in both countries include at least one human capital metric in their executive incentive plans.

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Employment Executive Compensation Government Employee Benefits 59

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 22, 2022

The SEC’s final rule on Pay Versus Performance becomes effective on October 8, 2022, and will require new executive compensation disclosures for the upcoming proxy season (for annual proxy statements that include executive compensation disclosure for fiscal years ending on or after December 16, 2022).

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Executive Compensation Pension Pension Benefit Consulting 85

Snell & Wilmer Benefits

JANUARY 30, 2023

For ISO exercises and ESPP transfers occurring in 2022, the Section 6039 employee information statement requirement is satisfied by providing Form 3921 (for ISOs) and Form 3922 (for ESPPs) to employees no later than January 31, 2023.

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Electronics Employment Executive Compensation Employee Benefits 52

Benefits Notes

AUGUST 29, 2023

In response to these concerns, the IRS issued Notice 2023-62 on August 25, 2023. In addition to providing a preview of future guidance, Notice 2023-62 also requests comments on whether future guidance should address plans that allow catch-up contributions, but do not include a qualified Roth contribution program.

401(k) 52

401(k) Retirement Plan Executive Compensation Taxes 52

Snell & Wilmer Benefits

JANUARY 30, 2023

For ISO exercises and ESPP transfers occurring in 2022, the Section 6039 employee information statement requirement is satisfied by providing Form 3921 (for ISOs) and Form 3922 (for ESPPs) to employees no later than January 31, 2023.

Electronics 40

Electronics Employment Executive Compensation Employee Benefits 40

McDermott Will & Emery Employee Benefits

JUNE 15, 2023

The US Securities and Exchange Commission (SEC) recently approved amendments to clawback policy listing standards proposed by the New York Stock Exchange (NYSE) and the Nasdaq Stock Market LLC (Nasdaq) that extend the effective date of the exchanges’ respective listing standards to October 2, 2023.

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Commissions Employee Benefits Executive Compensation 77

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

Act of 2022 (“ SECURE 2.0 ”) that was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act includes a slew of changes for retirement plan sponsors and employers. please see our other blog posts or contact a member of Proskauer’s Employee Benefits and Executive Compensation group.

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Pension Executive Compensation Retirement Plan Employment 52

Snell & Wilmer Benefits

JUNE 8, 2023

The clawback rules were published in the Federal Register on November 28, 2022 and become effective January 27, 2023. For both the NYSE and Nasdaq, the effective date of the proposed rules will be October 2, 2023.

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Commissions Consulting Executive Compensation Employee Benefits 52

Proskauer's Employee Benefits & Executive Compensa

JULY 7, 2023

Companies are required to comply with the new Item 402(x) disclosures in their Form 10-K (or proxy statement incorporated by referenced into the Form 10-K) for the first filing that covers the first full fiscal period that begins on or after April 1, 2023, and for smaller reporting companies, this date is October 1, 2023. [1]

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Government Incentive Compensation Executive Compensation IT 111

Proskauer's Employee Benefits & Executive Compensa

AUGUST 20, 2021

ROB PROJANSKY : Hello and welcome to Proskauer Benefits Brief, Legal Insights on Employee Benefits and Executive Compensation. Additional groups of priority plans will be able to apply over the course of the next 18 months or so, and all eligible plans will be able to apply by March 2023.

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Pension Pension Benefit Employment Executive Compensation 98

Proskauer's Employee Benefits & Executive Compensa

MAY 23, 2023

The Tax Court’s May 3, 2023, decision in ES NPA Holding, LLC v. Commissioner (T.C.

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Taxes Incentive Compensation Executive Compensation IT 52

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 19, 2023

On September 1, 2023, California Governor Gavin Newsom signed Senate Bill 699 , which amends California Business & Professions Code Section 16600 to prohibit an employer from entering into or attempting to enforce a non-compete agreement regardless of whether the contract was signed outside of California.

Employment 52

Employment Executive Compensation IT 52

Snell & Wilmer Benefits

FEBRUARY 21, 2023

On February 9, 2023, the U.S. Court of Appeals for the Tenth Circuit refused to enforce an arbitration clause contained in an employee stock ownership plan (“ESOP”) document.

Executive Compensation 52

Executive Compensation Employment Management Employee Benefits 52

Snell & Wilmer Benefits

FEBRUARY 21, 2023

On February 9, 2023, the U.S. Court of Appeals for the Tenth Circuit refused to enforce an arbitration clause contained in an employee stock ownership plan (“ESOP”) document.

Executive Compensation 40

Executive Compensation Employment Management Employee Benefits 40

Proskauer's Employee Benefits & Executive Compensa

JANUARY 6, 2023

On January 5, 2023, the Federal Trade Commission (“FTC”) proposed an expansive new rule which would impose a near-complete ban on the use of noncompetes (the “Proposed Rule”) by employers.

Commissions 52

Commissions Manufacturing Employment Executive Compensation 52