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.
