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Clawbacks, Disclosure, Executive Compensation, pay versus performance, Proxy, PvP, SEC More from: Julia Petty, Laura Bagarella, Michael Albano , Cleary Gottlieb Michael Albano is a Partner, Laura Bagarella is Counsel, and Julia Petty is a Partner at Cleary Gottlieb Steen & Hamilton LLP. This post is based on a Cleary Gottlieb memorandum by Mr. Albano, Ms. Bagarella, Ms. Petty, Ariel Adler, and Gretchen Dougherty.
The following post was originally included as part of our recently published memorandum “Selected Issues for Boards of Directors in 2023”. 2022 saw a flurry of activity to implement rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, a statute passed in reaction to the financial crisis of 2008 but for which enacting guidance had long been absent. Two significant rules adopted this year in the area of executive compensation are the so-called “pay vs.
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