S. 690 · 108th Congress
Prevention of Stock Option Abuse Act of 2003
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WydenSponsorNo cosponsors.
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.
What it does: CRS summary · Introduced in Senate · Mar 21, 2003
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Prevention of Stock Option Abuse Act of 2003
Latest action (Mar 21, 2003): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Mar 21, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.