S 2822
107th Congress
Senate
Finance and Financial Sector
Administrative procedure
Commerce
Corporate collapse
Corporate governance
Corporation directors
Employee stock options
Executive compensation
Government Operations and Politics
Government paperwork
Independent regulatory commissions
Information disclosure (Securities law)
Investors
Labor and Employment
Law
Securities and Exchange Commission
Securities regulation
Stockholders
Stockholders' voting
Stocks
Prevention of Stock Option Abuse Act
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2002
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 30, 2002
Sponsor introductory remarks on measure. (CR S7581-7582)
Jul 30, 2002
Introduced in Senate
Plain-English summary
Prevention of Stock Option Abuse Act - Instructs the Securities and Exchange Commission to promulgate stock option rules requiring a publicly traded corporation to: (1) obtain prior shareholder approval of stock option compensation plans; and (2) issue to directors or executive officers stock options that have a minimum five-year vesting period.
Mandates that such rules also: (1) stagger both the percentage of company stock sold by a director or executive officer and the time periods within which it may be sold; and (2) require quarterly corporate filings to include the total quantity of outstanding stock options held by senior management and staff, as well as a stock option status report.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1