Preparing For Say On 'Chutes

Law360, New York (February 3, 2011, 12:04 PM EST) -- The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law on July 21, 2010. Among other things, Dodd-Frank added enhanced golden parachute disclosure obligations in specified public filings and a requirement that U.S. public companies provide their shareholders with an advisory “say on golden parachutes” vote in any proxy statement or consent solicitation for a shareholder meeting to approve an acquisition, merger, consolidation or sale of substantially all of a company’s assets.

On Jan. 25, 2011, the SEC issued final regulations to implement...
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