Securities Advisory: NYSE and Nasdaq Rules Requiring Shareholder Approval of Equity Compensation Plans
12/15/2003
Commencing June 30, 2003, companies listed on Nasdaq or the NYSE are required to obtain shareholder approval in order to adopt new equity compensation plans or make material amendments to existing equity compensation plans, subject of certain limited exceptions discussed in this Advisory. Existing equity compensation plans adopted prior to June 30, 2003, will not require shareholder approval unless and until they are materially amended.
This Mintz Levin Advisory discusses the rules and highlights the similarities and differences between the NYSE and Nasdaq rules.
