SEC Amends Exec Comp Disclosure To More Closely Align With FAS 123R

December 22, 2006

On Dec. 22, 2006, as noted in this press release, the U.S. Securities and Exchange Commission (SEC) issued an interim Final Rule, Executive Compensation Disclosure, which "amend[s]... [SEC's] executive and director compensation disclosure rules to more closely conform the reporting of stock and option awards to Financial Accounting Standards Board Statement of Financial Accounting Standards No. 123 (revised 2004) Share-Based Payment (FAS 123R)." 

Although this interim rule has been adopted as final, and will be effective upon publication in the federal register, the SEC will accept comments for 30 days after publication in the Federal Register, and will consider if any changes are necessary based on those comments.