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Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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CFOs of Smaller Reporting Companies May Be Considered “Covered Employees” for Purposes of Section 162(m)
The $1,000,000 limitation on deductions imposed by Section 162(m) of the Internal Revenue Code applies to “covered employees.” In Notice 2007-49, the IRS defined the term “covered employees” as follows: “The IRS will interpret the term “covered employee” for purposes … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged Covered Employees, IRS, Section 162(m)
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IRS Releases Clarifying 162(m) Regulations
The IRS recently released final regulations clarifying two aspects of the “performance-based compensation” exception to the $1,000,000 limit on deductible compensation paid to covered employees under Section 162(m) of the Internal Revenue Code. Proposed regulations issued in 2011 provided that … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged Executive Compensation, IRS, Performance-Based Compensation, reliance period, Section 162(m)
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ISS Issues FAQs on Equity Plan Scorecard
As reported in my October 24, 2014 post, Institutional Shareholder Services Inc. (“ISS”), a leading proxy advisory firm, has adopted a new “scorecard” approach to evaluating public company equity compensation plans. In a recent set of FAQs, ISS offers additional … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged Equity Plan Scorecard, equity-based compensation, Institutional Shareholder Services, ISS, Section 162(m)
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Public Companies Should Consider Shareholder Reapproval of Section 162(m) Performance Compensation Plans Approved in 2009
As reported in Part 1 of our End of Year Plan Sponsor “To Do” Lists, Section 162(m) of the Internal Revenue Code limits the deduction a public company may take for compensation payable to “covered employees” to $1,000,000 per year. … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged Executive Compensation, Incentive Plans, Performance-Based Compensation, Public Company, Section 162(m)
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