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S 690 108th Congress Senate Finance and Financial Sector Administrative procedure Commerce 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 Stocks

Prevention of Stock Option Abuse Act of 2003

Introduced: March 21, 2003 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 21, 2003
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 21, 2003
Introduced in Senate
 Plain-English summary Congressional Research Service

Prevention of Stock Option Abuse Act of 2003 - 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 March 21, 2003

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1