WATCH LIST: Shareholder Vote on Executive Compensation Act

• H.R. 1257 / S. 1181
• GovTrack.us: H.R. 1257 / S. 1181

Summary:

The “Shareholder Vote on Executive Compensation Act” (H.R. 1257; S. 1181) would amend the Securities Exchange Act of 1934 to require a nonbinding shareholder vote on executive compensation packages. It would apply to any proxy, consent, or authorization for a shareholder meeting occurring on or after January 1, 2009.

The measure passed the House on April 20, 2007 by a 269-134 vote.