Lawyer Article

This article was published in the August 31st edition of Southeast Tech Wire.

The Securities and Exchange Commission recently adopted significant amendments to the disclosure requirements for executive and director compensation, related party transactions, director independence and other corporate governance matters and security ownership of officers and directors. These amendments will apply to disclosure in proxy and information statements, periodic reports, current reports and registration statements.

The amendments, which were originally proposed in January 2006, are intended to provide investors with a clearer and more complete picture of executive and director compensation and to provide better information about key financial relationships among companies and their executive officers, directors and significant shareholders and their respective immediate family members. Companies must comply with the changes to Form 8-K for triggering events that occur 60 days or more after publication of the final rules in the Federal Register. For proxy statements and Forms 10-K, the rules are generally effective for filings made with respect to fiscal years ending on or after December 15, 2006.

Follow this link to access our client alert describing the amendments.