To provide that the compensation paid to certain corporate officers shall be treated as a proper subject for action by security holders, to require certain disclosures regarding such compensation, and for other purposes.
Corporate Pay Responsibility Act - Amends the Securities Exchange Act of 1934 to declare that corporate officer compensation is a proper subject for action by the holder of securities. Mandates that a securities issuer include in its proxy statement clear and comprehensive information regarding corporate officer compensation. Itemizes disclosure contents.
Authorizes security holders of specified market value or voting strength to nominate persons for election to the issuer's board of directors. Requires that such nominations be included in the issuer's proxy statement and form of proxy.
Requires that, upon receipt of an entitled person's written request, an issuer promptly make available its list of security holders of record, and any list of beneficial owners available to it. Establishes a monetary penalty for noncompliance. Sets forth confidentiality guidelines.
Subcommittee on Securities. Hearings held.
Introduced in House
Introduced in House
Referred to the House Committee on Energy and Commerce.
Referred to the Subcommittee on Telecommunications and Finance.
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