As always this time of year, we offer you this issue of Snell & Wilmer's Corporate Communicator to help you prepare for the upcoming annual report and proxy season. This issue highlights some of the considerations your company will need to focus on this annual meeting season. If you have any questions about the topics summarized in this issue, please do not hesitate to contact us.
Within this issue, we begin with a brief discussion on executive compensation disclosure rules as they remain an important topic for this annual meeting season in light of the recent economic crisis and the SEC's well-published messages that it will continue to focus on Compensation Discussion and Analysis ("CD&A"). We will also discuss how recent market and economic conditions will affect your disclosure in your Annual Report on Form 10-K. In particular, disclosures about risk management and liquidity and capital resources will take on heightened importance this year in light of the ongoing economic crisis and the risks and uncertainties it creates for all companies. Indeed, throughout this issue you will notice the recurring motif of the affect of the current economic climate and credit crunch on company practices and policies.