Details

The Compensation Committee Handbook


The Compensation Committee Handbook


4. Aufl.

von: James F. Reda, Stewart Reifler, Michael L. Stevens

111,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 31.03.2014
ISBN/EAN: 9781118417188
Sprache: englisch
Anzahl Seiten: 752

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Beschreibungen

<b>New and updated information on the laws and regulations affecting executive compensation</b> <p>Now in a thoroughly updated Fourth Edition, <i>The Compensation Committee Handbook</i> provides a comprehensive review of the complex issues challenging compensation committees that face revised executive compensation disclosure regulations issued by the SEC, as well as GAAP and IFRS rulings and trends. This new and updated edition addresses a full range of functional issues facing compensation committees, including organizing, planning, and best practices tips.</p> <ul> <li>Looks at the latest regulations impacting executive compensation, including new regulations issued by the SEC, as well as GAAP and IFRS rulings and trends</li> <li>Covers the selection and training of compensation committee members</li> <li>Explores how to make compensation committees a performance driver for a company</li> <li>Guides documentation requirements and timing issues</li> </ul> <p><i>The Compensation Committee Handbook, Fourth</i> Edition will help all compensation committee members and interested professionals succeed in melding highly complex technical information and concepts with both corporate governance principles and sound business judgment.</p>
<p>Foreword ix</p> <p>Preface xiii</p> <p>Acknowledgments xvii</p> <p>About the Authors xix</p> <p><b>PART One </b><b>THE MODERN COMPENSATION COMMITTEE 1</b></p> <p><b>CHAPTER 1 </b><b>The Compensation Committee 3</b></p> <p>Board Structure: The Focus on Independence 4</p> <p>Compensation Committee Composition and Multiple Independence Requirements 5</p> <p>Compensation Committee Size 10</p> <p>Compensation Committee Charter 11</p> <p>Role of the Compensation Committee 13</p> <p>Role of the Compensation Committee Chair 14</p> <p>Duties and Responsibilities of the Compensation Committee 14</p> <p>Compensation Benchmarking 26</p> <p>The Importance of Compensation Committee Meeting Minutes 29</p> <p>Call to Action 31</p> <p><b>CHAPTER 2 </b><b>Selecting and Training Compensation Committee Members 33</b></p> <p>The Role of the Nominating Committee 33</p> <p>Nomination and Selection of New Compensation Committee Members 34</p> <p>Time Commitment 39</p> <p>Diversity 40</p> <p>Attracting Candidates 41</p> <p>Conducting the Search 41</p> <p>How to Approach Candidates 43</p> <p>CEO Involvement in the Selection Process 43</p> <p>Making the Final Selection 44</p> <p>How to Say No 47</p> <p>What if the New Director Does Not Work Out? 47</p> <p>Benefits of an Educated Board 48</p> <p>Orientation of New Members 49</p> <p>Ongoing Training 51</p> <p>Outside Experts and Advisors 53</p> <p><b>CHAPTER 3 </b><b>CEO Succession and Evaluation 59</b></p> <p>The Relationship Between Pay and Succession Planning 61</p> <p>The Advantages of Effective Succession Planning 65</p> <p>The Succession Planning Process 67</p> <p>CEO Evaluation 73</p> <p><b>CHAPTER 4 </b><b>Director Compensation 97</b></p> <p>Overview 97</p> <p>Elements of Director Compensation 99</p> <p>Disclosure 103</p> <p>Trends in Director Compensation 106</p> <p>Conducting a Director Compensation Study 109</p> <p><b>PART Two </b><b>LEGAL AND REGULATORY FRAMEWORK 115</b></p> <p><b>CHAPTER 5 </b><b>Corporate Governance 117</b></p> <p>Fiduciary Duties of Directors 117</p> <p>Practical Applications of Fiduciary Duty Rules 126</p> <p>Stock Exchange Corporate Governance Rules 131</p> <p>External Compensation Policies and Guidelines 131</p> <p><b>CHAPTER 6 </b><b>Disclosure of Executive and Director Compensation 143</b></p> <p>Background 143</p> <p>Compensation Discussion and Analysis 144</p> <p>The Tabular Disclosures 146</p> <p>Option Grant Practices 154</p> <p>Director Compensation 155</p> <p>Disclosure of Material Compensation Risk 155</p> <p>Compensation Disclosure Requirements for Smaller Reporting Companies 157</p> <p>Golden Parachute Compensation 158</p> <p>Pending Dodd-Frank Disclosure Requirements 160</p> <p>Beneficial Ownership Reporting 162</p> <p>Disclosure of Related Person Transactions 162</p> <p>Director Independence and Governance Disclosure 163</p> <p>Disclosure of Equity Compensation Plans 165</p> <p>Plan Filing Requirements 167</p> <p>Form 8-K 168</p> <p>Selected Provisions of Regulation S-K 168</p> <p><b>CHAPTER 7 </b><b>Other Securities Issues 171</b></p> <p>Selected Dodd-Frank Provisions Relating to Executive Compensation 171</p> <p>Special Rules Regarding Stock Transactions 175</p> <p>NYSE/NASDAQ Rules: Approval of Equity Compensation Plans 189</p> <p>Selected Sarbanes-Oxley Provisions Relating to Executive Compensation 193</p> <p><b>CHAPTER 8 </b><b>Tax Rules and Issues 199</b></p> <p>Overview 199</p> <p>Organizations Responsible for Federal Tax 200</p> <p>Major U.S. Tax Law and Issues 201</p> <p><b>CHAPTER 9 </b><b>Accounting Rules and Issues 255</b></p> <p>Overview 255</p> <p>Organizations Responsible for Accounting Standards (Past and Present) 256</p> <p>New Equity-Based Compensation Accounting Rules 261</p> <p>Previous Equity-Based Compensation Accounting Rules Under U.S. GAAP 280</p> <p>Other Current and Past Accounting Standards 283</p> <p><b>CHAPTER 10 </b><b>ERISA and Labor Law, Rules, and Issues 305</b></p> <p>ERISA Law and Regulations 305</p> <p>Labor Laws and Regulations 309</p> <p>ADEA Law 310</p> <p><b>PART Three </b><b>PRACTICAL APPLICATIONS 315</b></p> <p><b>CHAPTER 11 </b><b>Executive Employment, Severance, and Change-in-Control Arrangements 317</b></p> <p>Background 317</p> <p>At-Will Employment Arrangements 318</p> <p>Contractual Employment Arrangements 319</p> <p>Fundamental Elements of a Written Employment Arrangement 320</p> <p>Process 322</p> <p>Types of Employment Arrangements 323</p> <p>Terms and Conditions Contained in Employment Arrangements 325</p> <p><b>CHAPTER 12 </b><b>Incentive Compensation 349</b></p> <p>Useful Definitions and Abbreviations 349</p> <p>Cash versus Equity 352</p> <p>Typical Plan Features and Designs 353</p> <p>Shareholder Approval Requirements 364</p> <p>Retention-Only Plans 364</p> <p><b>CHAPTER 13 </b><b>Equity-Based Compensation 367</b></p> <p>Equity-Based Incentive Awards 367</p> <p>Stock Ownership and Retention Guidelines 384</p> <p><b>CHAPTER 14 </b><b>Executive Pension-Benefit, Welfare-Benefit, and Perquisite Programs 387</b></p> <p>List of Programs 388</p> <p>Pension-Benefit Arrangements 388</p> <p>Welfare-Benefit Arrangements 397</p> <p>Perquisites 400</p> <p>APPENDIX A Selected SEC Rules, Regulations, Schedules, and Forms 405</p> <p>APPENDIX B List of Organizations and Periodicals 511</p> <p>APPENDIX C List of Director’s Colleges and Other Training Opportunities 519</p> <p>APPENDIX D Sample Compensation Committee Charters 527</p> <p>APPENDIX E Sample Compensation Discussion and Analysis (CD&A) 547</p> <p>Glossary 633</p> <p>Bibliography 685</p> <p>Index 699</p>
<p><b>JAMES F. REDA</b> is Managing Director, Executive Compensation Consulting, Arthur J. Gallagher & Co., Human Resources Consulting Practice. Mr. Reda has served for more than 27 years as advisor to the top management and boards of major corporations in the United States and abroad in matters of executive compensation, performance, organization, and corporate governance. <p><b>STEWART REIFLER</b> is the head of the executive compensation practice at the New York office of Vedder Price, P.C. Mr. Reifler has over 25 years of experience negotiating and structuring executive compensation arrangements on behalf of executives, board compensation committees, and companies. <p><b>MICHAEL L. STEVENS</b> is a partner in the executive compensation practice at Alston & Bird, LLP. Mr. Stevens has over 20 years of experience advising clients with respect to securities, corporate governance, and tax issues relating to stock plans, incentive compensation arrangements, executive employment agreements, and deferred compensation.
<p>Just when executive compensation was starting to settle down after the Sarbanes-Oxley Act, another upheaval has forced committee members to adapt yet again. The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act had a significant impact on executive compensation and reporting. This <i>Fourth Edition of The Compensation Committee Handbook</i> includes vital information that compensation committees need to stay current with Dodd-Frank and other new accountability requirements. <p>In addition to legal compliance, compensation committee members need to address a growing range of functional issues such as organizing, planning, evaluating executive performance, negotiating change-in-control arrangements, and beyond. The rapid changes in the role of the compensation committee can leave organizations reeling. <i>The Compensation Committee Handbook</i> defines the latest responsibilities and standards related to compensation, while recognizing that there is no single "correct" model for executive pay that will fit every business organization. <p>The strategy board members assign incentives needs to align with each specific case, but the standard approach has evolved almost as rapidly as the regulatory landscape.This is handbook identifies the best practices that reflect the most current understanding of issues related to compensation. Since the <i>Third Edition</i> was published in 2007, regulatory and theoretical changes have altered the way this committee should and must approach compensation. In this updated edition, the authors strive to remind readers of both the general and technical determinants of good compensation committee decision-making. <p>Bits and pieces of wisdom from business and academic publications can be difficult to synthesize when it comes time to discuss numbers. <i>The Compensation Committee Handbook</i> is a valuable reference because it comprehensively addresses all the relevant issues. This book's issue-oriented approach is adequately comprehensive to target any compensation discussion. <i>The Compensation Committee Handbook, Fourth Edition</i> will help all compensation committee members, as well as executives, human resource officers, and general counsels, succeed in turning complex technical information into sound business judgment.

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