The November 15, 2007 Employee Ownership Update is online and discusses the following:
- Nominate a Company—or Your Company—for the Wall Street Journal Winning Workplaces Award
- SEC Looking at 10b5-1 Plans
- Final 415 Regulations Contain a Few Surprises
- California Revises Securities Requirements for Equity Compensation
Yesterday we discussed the Winning Workplaces Awards. The Update provides a link to nominate your own or another company.
The Update also notes some changes to Section 415:
"First, the definition of annual compensation has been clarified to include post-severance payments paid within 2 1/2 months following severance or the end of the limitation year. Regular pay, overtime, bonuses, commissions, etc., must be counted, but other forms of payments, such as for accrued sick leave or military service, are optional. Other types of severance pay, including parachute payments, deferred compensation triggered by severance, and severance pay itself, are not included. In a significant change, the rules state that the annual addition dollar amount must be prorated if the plan is terminated before the end of the limitation year."
For more information on the final Section 415 regulations, check out this link: T.D. 9319 - 72 Fed. Reg. 16878 (April 5, 2007) - Limitations on Benefits and Contributions Under Qualified Plans (IRC Section 415 Final Regulations)
Finally, the Update also discusses how the SEC is looking at 10b5-1 plans and some revisions to California's securities requirements for equity compensation. Check out Programmed stock trading plans eyed for more information on 10b5-1 plans.
Record Number of Attendees
Earlier this week we discussed the 2007 Las Vegas Conference & Trade Show. 2007 Las Vegas Conference & Tradeshow – What's the Buzz? confirms that there were approximately 1,230 attendees at the conference.
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