Foley Partner Gardner Davis authored an article that appeared in InsideCounsel on February 9, 2011 titled "Regulatory: Say on Pay Hits Corporate Boardrooms." Davis discusses the mandates of the Dodd-Frank Wall Street Reform and Consumer Protection Act that require public companies to conduct a separate shareholder vote on the future frequency of the say-on-pay vote, known as "say-when-on-pay." He states that this will be the first time many shareholders are considering say-on-pay proposals, noting that their resources to engage may be strained if they are casting multiple votes on public company ballots. Davis adds that companies will need to make a series of important decisions to ensure that their organizations are in compliance while also taking into account the unique needs of investors, board members and management.
Click here to read the complete article.