Attorney Mike Melbinger, Partner in Winston & Strawn’s Chicago office, brings perspective to this ICS/ISS illustration model of how a sample company might choose to adjust annual goals for incentivizing executives. As Mike points out this topic, “will affect nearly every company in corporate America”.
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
Corporations wishing to submit changes to their self-selected peer group for proxy disclosure have a short window that commences next Monday, July 6, 2020 at 9:00 AM EST. Institutional Shareholders Services (ISS) published the announcement last week.
On June 19, 2020, the Internal Revenue Service (IRS) updated and clarified issues of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) guidance for plan sponsors and plan participants. Issued as Notice 2020-50 (“Guidance for Coronavirus-Related Distributions and Loans from Retirement Plans Under the CARES Act,”) the publication explains the new provisions which allow enhanced access to plan loans and plan distributions.
Since the coronavirus pandemic first began to reinvent life in the U.S., we’ve shared numerous updates directed to the topic of IRC Section 409A v. COVID-19.
Today, courtesy of our friends at Porter Wright, the Deferred Compensation blog addresses questions that employers first raised in March, regarding ways to get money out of their nonqualified plans to participants who may have suffered pay cuts or furloughs. This post also addresses questions regarding equity-based and incentive compensation. As you will see, good intentions could lead to serious consequences under Internal Revenue Code Section 409A.
ESG stands for Environmental, Social, and Governance. Established to help define the environmental, social, and corporate accountability a company demonstrates and can document, the term ESG is often used to help prospective investors and current stockholders assess how a company aligns with the investor’s own principles of what is socially and environmentally ethical and acceptable. This report offers a timeline of how this direction has emerged and why it may presently represent one of the strongest drivers of U.S. economic direction both now and for the foreseeable future.
To Dads, Stepdads, and cherished Grandfathers, we wish you a safe, happy, and blessed Father’s Day 2020.
If your business obtained a PPP loan, whether you plan to repay the loan or to seek PPP loan forgiveness, you need to be fully aware of the revised terms and conditions established under the Paycheck Protection Program (PPP) Flexibility Act of 2020 (PPPFA). The PPP Flexibility Act (HR 7010) was signed into effect by President Donald Trump on June 5, 2020. This action changes and replaces the terms of PPP Act loans and adds flexibility that will be valued by many borrowers.
Earlier this month we shared Electronic Disclosure Safe Harbor for Retirement Plans, providing an overview of the Department of Labor’s final regulations permitting electronic disclosure via email and website publication as the default method for sending employee retirement plan notices.
Although the economy has shown positive signs, (such as the May jobs report) indicating recovery is underway, no one is exhaling yet. Among the many issues that organizations are managing with prudence and often uncertainty, is how best to handle company stock ownership policies in the face of atypical stock price fluctuations.