Shareholder Vote on Executive Compensation Act

Summary

Shareholder Vote on Executive Compensation Act - Amends the Securities Exchange Act of 1934 to require a proxy, consent, or authorization to permit a separate shareholder vote to approve executive compensation. States that such a shareholder vote shall be neither binding on the board of directors, nor construed as overruling a decision by the board. Requires any proxy solicitation material concerning disposition of substantially all of an issuer's assets to disclose any compensation agreements or understandings with the principal executive officers of the issuer (or the acquiring issuer) regarding any type of (golden parachute) compensation which: (1) relates to such disposition; and (2) has not been subject to a shareholder vote. States that: (1) any proxy solicitation material containing such executive compensation disclosures shall require a separate shareholder approval of such agreements or understandings; but (2) the shareholder vote shall be neither binding on the board of directors, nor construed as overruling a decision by the board.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 1 March 2007

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 1 March 2007

   Introduced

   Introduced in House

   Source: IntroReferral

3. 1 March 2007

   Introduced

   Introduced in House

   Source: IntroReferral

4. 8 March 2007

   Committee

   Committee Hearings Held.

   Source: Committee

5. 21 March 2007

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

6. 28 March 2007

   Vote

   Ordered to be Reported (Amended) by the Yeas and Nays: 37 - 29.

   Source: Committee

7. 28 March 2007

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

8. 16 April 2007

   Calendars

   Placed on the Union Calendar, Calendar No. 53.

   Source: Calendars

9. 16 April 2007

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 110-88.

   Source: Committee

10. 16 April 2007

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 110-88.

    Source: Committee

11. 17 April 2007

    Reported

    Rules Committee Resolution H. Res. 301 Reported to House. Rule provides for consideration of H.R. 1257 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.

    Source: Floor

12. 18 April 2007

    Passed

    Rule H. Res. 301 passed House.

    Source: Floor

13. 18 April 2007

    Floor

    Committee of the Whole House on the state of the Union rises leaving H.R. 1257 as unfinished business.

    Source: Floor

14. 18 April 2007

    Passed

    On motion that the Committee rise Agreed to by voice vote.

    Source: Floor

15. 18 April 2007

    Floor

    Mr. Frank (MA) moved that the Committee rise.

    Source: Floor

16. 18 April 2007

    Floor

    Rule provides for consideration of H.R. 1257 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.

    Source: Floor

17. 18 April 2007

    Floor

    The Speaker designated the Honorable Anthony D. Weiner to act as Chairman of the Committee.

    Source: Floor

18. 18 April 2007

    Floor

    House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 301 and Rule XVIII.

    Source: Floor

19. 18 April 2007

    Reported

    Considered under the provisions of rule H. Res. 301. (consideration: CR H3530-3550; text of measure as reported in House: CR H3539)

    Source: Floor

20. 20 April 2007

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

21. 20 April 2007

    Vote

    On passage Passed by recorded vote: 269 - 134 (Roll no. 244).

    Source: Floor

22. 20 April 2007

    Vote

    Passed/agreed to in House: On passage Passed by recorded vote: 269 - 134 (Roll no. 244).

    Source: Floor

23. 20 April 2007

    Vote

    On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 222 (Roll no. 243). (consideration: CR H3712-3713; text: CR H3712)

    Source: Floor

24. 20 April 2007

    Floor

    The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H3712-3713)

    Source: Floor

25. 20 April 2007

    Floor

    The House resolved into Committee of the Whole House on the state of the Union for further consideration.

    Source: Floor

26. 20 April 2007

    Floor

    Considered as unfinished business. (consideration: CR H3699-3714)

    Source: Floor

27. 20 April 2007

    Floor

    DEBATE - The Committee of the Whole proceeded with debate on the Price of Georgia amendment under the five-minute rule.

    Source: Floor

28. 20 April 2007

    Floor

    Mr. Feeney moved to recommit with instructions to Financial Services.

    Source: Floor

29. 20 April 2007

    Passed

    The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.

    Source: Floor

30. 20 April 2007

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

31. 20 April 2007

    Floor

    The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1257.

    Source: Floor

32. 23 April 2007

    Introduced

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

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Referred in Senate · 23 April 2007 · Download file
• Engrossed in House · 20 April 2007 · Download file
• Reported in House · 16 April 2007 · Download file
• Introduced in House · 1 March 2007 · Download file

Documents

11 official files

• Referred in Senate (text)

  Referred in Senate · EN · 23 April 2007

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• Referred in Senate (PDF)

  Referred in Senate · EN · 23 April 2007

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• Engrossed in House (text)

  Engrossed in House · EN · 20 April 2007

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• Engrossed in House (PDF)

  Engrossed in House · EN · 20 April 2007

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• Passed House amended

  summary · EN · 20 April 2007

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• Reported in House (text)

  Reported in House · EN · 16 April 2007

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• Reported in House (PDF)

  Reported in House · EN · 16 April 2007

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• Reported to House with amendment(s)

  summary · EN · 16 April 2007

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  Vertaal document

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• Introduced in House (text)

  Introduced in House · EN · 1 March 2007

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• Introduced in House (PDF)

  Introduced in House · EN · 1 March 2007

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  Vertaal document

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• Introduced in House

  summary · EN · 1 March 2007

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Sponsors

• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• David Scott · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
• Rep. Miller, George [D-CA-11] · D · Sponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
• Rep. Kanjorski, Paul E. [D-PA-11] · D · Sponsor
• Rep. Gutierrez, Luis V. [D-IL-4] · D · Sponsor
• Rep. DeFazio, Peter A. [D-OR-4] · D · Sponsor
• Rep. Clay, Wm. Lacy [D-MO-1] · D · Sponsor
• Rep. Baca, Joe [D-CA-43] · D · Sponsor
• Rep. Green, Al [D-TX-9] · D · Sponsor
• Rep. Cooper, Jim [D-TN-5] · D · Sponsor
• Rep. Woolsey, Lynn C. [D-CA-6] · D · Sponsor
• Rep. Sherman, Brad [D-CA-32] · D · Sponsor
• Rep. Ellison, Keith [D-MN-5] · D · Sponsor
• Rep. Lantos, Tom [D-CA-12] · D · Sponsor
• Rep. Ackerman, Gary L. [D-NY-5] · D · Sponsor
• Rep. Miller, Brad [D-NC-13] · D · Sponsor
• Rep. Cleaver, Emanuel [D-MO-5] · D · Sponsor
• Rep. Sires, Albio [D-NJ-13] · D · Sponsor
• Rep. Perlmutter, Ed [D-CO-7] · D · Sponsor
• Rep. Wilson, Charles A. [D-OH-6] · D · Sponsor
• Rep. Moore, Gwen [D-WI-4] · D · Cosponsor
• Rep. Meeks, Gregory W. [D-NY-5] · D · Cosponsor
• Rep. Lynch, Stephen F. [D-MA-8] · D · Cosponsor
• Rep. Carson, Julia [D-IN-7] · D · Cosponsor
• Rep. Marshall, Jim [D-GA-8] · D · Cosponsor
• Rep. Maloney, Carolyn B. [D-NY-12] · D · Cosponsor
• · ssbk00 · Standing
• · hsba00 · Standing

Related records

• related to → Providing for consideration of the bill (H.R. 1257) to amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation.
• related to ← Shareholder Vote on Executive Compensation Act
• amends ← An amendment numbered 1 printed in the Congressional Record.
• amends ← An amendment numbered 12 printed in the Congressional Record to clarify that shareholders may meet in special meetings held in lieu of the annual meeting.
• amends ← An amendment numbered 6 printed in the Congressional Record to insert a requirement for website disclosure of vote results.
• amends ← An amendment numbered 3 printed in the Congressional Record to add a new paragraph providing for a majority-elected board exemption.
• amends ← An amendment numbered 13 printed in the Congressional Record to add a requirement for disclosure of activities to influence votes.
• amends ← An amendment numbered 9 printed in the Congressional Record to insert a complete new text consisting of a section inserting provisions for disclosure of executive compensation.
• amends ← An amendment numbered 11 printed in the Congressional Record to insert provisions regarding a deferred compensation exemption.

Showing 9 of 13 related records.