July 13, 2004
Disclosure of Voting Results in
At last week’s ASCS conference, Marty Dunn, Deputy Director of Corp Fin, indicated that some companies didn’t appear to be properly disclosing their voting results as required under Item 4 of Form 10-Q. Item 4 doesn’t prescribe a specific format for disclosure of voting results.
Here are a few examples of companies that we thought appeared to get it right. Last year, Eastman Kodak’s 2nd quarter 10-Q disclosed how votes were cast for a staggered board. This year, Walt Disney’s 2nd quarter 10-Q has a nice chart to reveal the voting at its controversial annual meeting. Pfizer also has a nice chart in its 2nd quarter 10-Q.
New “Income Deposit Securities” Practice Area
We have created a new “Income Deposit Securities” Practice Area, including links to the 19 registration statements that have been filed registering Income Deposit Securities, Enhanced Income Securities and Enhanced Yield Securities. I believe only one of these registration statements have been declared effective by the SEC Staff so far.
Consider Whether Definition of “Cause” Should Include Failure to Cooperate With Governmental Investigation
We received ten new practice pointers yesterday from our task force to post on CompensationStandardsConference.com, including this anonymous one on “Consider Whether Definition of “Cause” Should Include Failure to Cooperate With Governmental Investigation.”