Tagged: NASDAQ

SEC’s Prescribed Clawback Policy – Effective Date Postponed and Approved by SEC!

SEC Rulemaking

12 Jun, 2023

SEC’s Prescribed Clawback Policy – Effective Date Postponed and Approved by SEC!

NYSE, NYSE American and Nasdaq have postponed the effective date of the proposed clawback listing standards, so they would take effect on October 2, 2023, and issuers would be required to adopt compliant clawback policies by December 1, 2023.  Furthermore, the SEC has granted accelerated approval of each exchange’s proposal, as amended. The amendments have not changed the substantive requirements for a clawback policy.  However,...

NASDAQ and NYSE Provide Temporary Relief from Certain Continued Listing Requirements

Uncategorized

24 Apr, 2020

NASDAQ and NYSE Provide Temporary Relief from Certain Continued Listing Requirements

In response to the COVID-19 pandemic, NASDAQ and NYSE are providing temporary relief from certain continued listing standards. As of now, NYSE American has not provided similar relief from its continued listing standards as a result of COVID-19. Specifically, NASDAQ is providing relief from the continued listing bid price ($1.00) and market value of publicly held shares listing requirements through June 30, 2020. While NASDAQ...

Nasdaq Doesn’t Require Shareholder Approval of Equity Compensation Plan Amendments to Increase Tax Withholding

Executive Compensation and Disclosure

24 Oct, 2016

Nasdaq Doesn’t Require Shareholder Approval of Equity Compensation Plan Amendments to Increase Tax Withholding

Material amendments to equity compensation plans require shareholder approval under Nasdaq rules. Last week, Nasdaq posted a new FAQ #1269 regarding amendments to equity compensation plans to increase the tax withholding rate.  FAQ #1269 is set forth below. “Generally, an amendment to increase the withholding rate to satisfy tax obligations would not be considered a material amendment to an equity compensation plan. Allowing the holder...

SEC Approves NASDAQ Rule Requiring Disclosure of “Golden Leash” Arrangements

Board Governance and Compensation / SEC Rulemaking / Shareholder Activism

5 Jul, 2016

SEC Approves NASDAQ Rule Requiring Disclosure of “Golden Leash” Arrangements

Do your directors have a “golden leash”? If so, NASDAQ-listed companies will be required to publicly disclose those arrangements as a result of newly adopted rules. “Golden leash” arrangements are compensation arrangements between activist shareholders and their director nominee in connection with his or her service on, or candidacy for, a company’s board of directors, usually in connection with a proxy fight. In a typical...

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Cam helps clients with corporate matters including governance and...

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Jason assists clients in raising funds through capital mar...

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