Companies will have to provide more details of executive pay and perks under the most substantial overhaul of benefit disclosure policy since 1992, adopted unanimously Wednesday by federal regulators.
And amid a widening scandal over suspect timing of stock option grants to company officials, the Securities and Exchange Commission also is writing new rules on disclosure of the dating of options. The five SEC commissioners voted unanimously at a public meeting to adopt the plan, which will take effect on Dec. 15 so that companies’ 2006 annual reports issued early next year will reflect the changes.
