Federal financial filings show how new disclosure rules are making more information available to shareholders.
By Garry Kranz Comments 0 | Recommend 0
Execs & Financial Planning: Tougher federal laws on the reporting of
executive compensation are showing up in companies’ financial documents. In
particular, public companies are providing greater detail about the
financial-planning assistance given to top execs, according to Equilar Inc.,
which released the findings of its annual report on executive compensation. The
new disclosure requirements were put in place to curb inflationary severance
packages. For instance, 74 percent of companies reported providing financial
planning-related incentives to executives in 2006, up dramatically from 2005,
when less than 30 percent of companies acknowledged doing so. Executives in 2006
received financial planning services worth an average of $17.1 million, which is
16 percent higher than the $14.7 million tallied in 2005. Only a handful of
companies—four of the Fortune 100—eliminated such benefits in 2007, according to
Equilar, which is based in Redwood Shores, California.
Workforce Management contributing editor Garry Kranz is based in Richmond, Virginia. E-mail editors@workforce.com to comment.
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