TheCorporateCounsel.net

May 2, 2012

Survey Results: When Do Blackout Periods Begin?

We have posted the survey results regarding when companies begin their blackout periods (there are results from 10 other surveys in our “Blackout Periods” Practice Area), repeated below:

1. Our blackout period begins:
– More than two days after quarter end – 6.4%
-1-2 days after quarter end – 2.6%
– Exactly at quarter end – 9.0%
-1-7 days before quarter end – 6.4%
– 8-14 days before quarter end – 17.9%
-15-21 days before quarter end – 35.9%
– 22-31 days before quarter end – 16.7%
– More than 31 days before quarter end – 5.1%

2. When our blackout period begins, we:
– Send an email to impacted insiders reminding them of the blackout – 69.2%
– Send a hard copy to impacted insiders reminding them of the blackout – 1.3%
– Don’t send any type of reminder – 29.5%

Please take a moment to participate in this “Quick Survey on HSR & Executives’ Acquisitions from Equity Compensation Plans ” – and this “Quick Survey on Audit Committees and Earnings Releases .”

How Might a “Comply or Explain” Regulatory Framework Work in Practice?

Recently, this Accountancy Age article notes that the UK’s Financial Reporting Council examined 60 annual reports to see how companies in the United Kingdom were doing since the country adopted a voluntary “comply or explain” corporate governance code in 2010. The upshot is captured in this excerpt from the article:

It found that companies’ explanations for not following the code were “sometimes rather perfunctory”. Put bluntly, some companies are blowing corporate governance a raspberry.

Webcast: “LLCs: Understanding Capital Account and Allocation Concepts for M&A”

Tune in tomorrow for the DealLawyers.com webcast – “LLCs: Understanding Capital Account and Allocation Concepts for M&A” – to hear Tarik Haskins of Morris Nichols, Andy Immerman of Alston & Bird and Chris Rosselli of Alston & Bird explain the capital account and tax implications of how LLCs are being used in deals today. Here are Course Materials you should print in advance…

– Broc Romanek