Today, the SEC promulgated interim final rules which generally conform the amounts reported for a stock-based award in the Summary Compensation Table to the compensation expense for such award reflected in the company’s financial statements. We have summarized in the attached memorandum the principal consequences for stock-based awards under the interim final rules, which are effective for the upcoming 2007 proxy season.
To view the SEC press release, click here.
To view the interim final rules, click here.