Prevention of Stock Option Abuse Act of 2003

Summary

Prevention of Stock Option Abuse Act of 2003 - Instructs the Securities and Exchange Commission to promulgate stock option rules requiring a publicly traded corporation to: (1) obtain prior shareholder approval of stock option compensation plans; and (2) issue to directors or executive officers stock options that have a minimum five-year vesting period. Mandates that such rules also: (1) stagger both the percentage of company stock sold by a director or executive officer and the time periods within which it may be sold; and (2) require quarterly corporate filings to include the total quantity of outstanding stock options held by senior management and staff, as well as a stock option status report.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 21 March 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 21 March 2003

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• Introduced in Senate

  summary · EN · 21 March 2003

  Open at official source

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