The U.S. Securities and Exchange Commission has long required public corporations to disclose the compensation of their top officers. The debate about whether chief executive officers are paid too much has gone on for decades. Many investors object to high CEO pay, which often runs into the tens of millions of dollars. Boards of directors…
Move over, Elon Musk and Tim Cook. There is a new name breaking into the list of the highest-paid chief executives: Chad Richison, the founder and CEO of payroll processor Paycom Software Inc. The Oklahoma City billionaire last year was awarded compensation valued at $211 million by Paycom, the company disclosed in the annual proxy statement it filed…
The U.S. Securities and Exchange Commission has long required that public companies post the annual compensation of their top executives in their proxies. In 2015, the SEC ruled that public corporations had to show how much their CEOs made in relationship with the median salary of their firm’s workers. The rule went into effect in…
…Meanwhile, say-on-pay support has declined somewhat in the first three months of this year so far compared to 2020. According to data from compensation consulting firm Farient Advisors’ say-on-pay tracker and public company intelligence provider MyLogIQ, average say-on-pay support at S&P 500 annual meetings reported through March 23 was 84.6%. Last year through March 23, say-on-pay…
After the financial crisis, regulators put rules in place for large banks and financial institutions to create a board committee dedicated solely to enterprise risk, rather than continuing to fold this function into the audit committee. Now, in the midst of a new kind of crisis, boards across industries are considering risk oversight duties, and…
U.S. companies are sharing more details about employee turnover as part of new disclosure requirements. But for some investors, the effort doesn’t go far enough because finance chiefs handpick the information they provide. Workforce spending is usually the biggest expense for companies, making up on average 57% of total operating costs for S&P 500 companies,…
The struggles of Greensill Capital have shone a light on the increasing use of supply-chain financing, a tool that gives companies the ability to extend their payment terms to vendors. Regulators and standard-setters are closely watching if and how companies disclose their use of the financing tool, which has come into focus amid the recent problems…
After its business was hit by the pandemic, retailer Ulta Beauty Inc. ULTA -0.82% appears to have used some accounting cosmetics to add a gloss to its financial results. Operating income at the once-fast-growing chain, which temporarily closed stores during the health crisis, plummeted to $13 million for the nine months through October, a fraction of the $613 million earned in the…
The number of physicians on boards shot up in 2020. Some recruiters say this is part of a trend that has been on the rise for the past decade or longer, while others link the jump to the pandemic. In 2020, there were 578 medical doctors on Russell 3000 boards, up from 484 in 2019…
A well-known SoulCycle instructor was met with backlash after getting the Covid-19 vaccine under the guise of an “educator.” MTA board member David Mack is reported to have used his influence to help friends get the vaccine at a retirement home in Palm Beach. The unexpected arrival of 200 vaccines reportedly resulted in vaccinations for western Tennessee politicians, hospital executives’ family members and a florist,…