On October 26, 2022, the SEC voted three to two to issue a final rule to complete mandates from the 2010 Dodd-Frank Act. New Rule 10D-1 addresses standards for exchange-listed companies for the recovery of erroneously awarded compensation to executive officers, known as a clawback policy. The executives covered are broad and include the issuer’s president; principal financial officer; principal accounting officer; any vice president in charge of a principal business unit, division, or function; and any other officer who performs policymaking functions. This article provides details.
SEC Finalizes Executive Pay Clawback Rules
Public Company Reporting • November 15, 2022
Brush up on new Rule 10D-1, which address standards for exchange-listed companies for the recovery of erroneously awarded compensation to executive officers.
