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S 1006 111th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Corporate finance and management Employee benefits and pensions Securities Wages and earnings

Excessive Pay Shareholder Approval Act

Introduced: May 7, 2009 Introduced by: Durbin, Richard J. Democratic · Illinois See on congress.gov
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5291)
May 7, 2009
Sponsor introductory remarks on measure. (CR S5290-5291)
May 7, 2009
Introduced in Senate
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 Plain-English summary Congressional Research Service

Excessive Pay Shareholder Approval Act - Amends the Securities Exchange Act of 1934 to prohibit the compensation for an employee of an issuer of securities in any single taxable year from exceeding 100 times the average compensation for services performed by all the issuer's employees during such taxable year.

Allows higher compensation only if at least 60% of the shareholders have voted to approve it (through a proxy or consent or authorization for an annual or other meeting of the shareholders, occurring within the preceding 18 months).

What's happening now May 7, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5291)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1006: Excessive Pay Shareholder Approval Act. 111th Congress. Open America. https://openamerica.io/bill/111-S-1006/
MLA
"S. 1006: Excessive Pay Shareholder Approval Act." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-1006/.
Bluebook (legal)
S. 1006, 111th Cong. (2026), https://openamerica.io/bill/111-S-1006/.
Markdown link
[S. 1006: Excessive Pay Shareholder Approval Act](https://openamerica.io/bill/111-S-1006/)
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