S. 979 · 108th Congress
Broad-Based Stock Option Plan Transparency 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.
R
EnsignSponsor20 cosponsors · 8 D, 12 R
R
Allard
GA
R
Allen
RB
R
Bennett
BB
D
Boxer
CB
R
Burns
MC
D
Cantwell
LC
R
Craig
MC
R
Crapo
NC
R
Coleman
DF
D
Feinstein
PM
D
Murray
HR
D
Reid
DS
D
Stabenow
GS
R
Smith
JW
R
Warner
PD
R
Domenici
TK
D
Kennedy
JB
D
Bingaman
DN
R
Nickles
JT
R
Talent15 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Broad-Based Stock Option Plan Transparency Act of 2003 - Directs the Securities and Exchange Commission (SEC) to require that certain mandatory periodic reports include detailed information regarding stock option plans, stock purchase plans, and other arrangements involving an employee acquisition of an equity interest in the publicly traded company,…
What it does: CRS summary · Introduced in Senate · May 1, 2003
Broad-Based Stock Option Plan Transparency Act of 2003 - Directs the Securities and Exchange Commission (SEC) to require that certain mandatory periodic reports include detailed information regarding stock option plans, stock purchase
plans, and other arrangements involving an employee acquisition of an equity interest in the publicly traded company, particularly with respect to the dilutive effect of such plans.
Requires such reports to include: (1) a discussion, written in "plain English" of the dilutive effect of stock option plans, including tables or graphic illustrations; (2) expanded disclosure of the dilutive effect of employee stock options upon the earnings per share number of the company; (3) prominent placement and increased comparability of all stock options related information; and (4) a summary of the stock options granted to the five most highly compensated executive officers of the company, including any outstanding stock options of those officers.
Directs the SEC to study and report to Congress on the effectiveness of the enhanced disclosures in increasing transparency to investors.
Prohibits the SEC from recognizing as generally accepted accounting principles for purposes of enforcing the securities laws any accounting standards related to the treatment of stock options that it did not recognize for that purpose before April 1, 2003.
Instructs the Secretary of Commerce to report to Congress on a study and analysis of broad-based employee stock option plans, particularly in the high technology and any other high growth industries.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Broad-Based Stock Option Plan Transparency Act of 2003
Latest action (May 1, 2003): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5671)
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 1, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.