X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – A bill that would require publicly-traded companies including banks to report employee stock options granted to chief executives and their next four highest paid officers was passed by the House of Representatives on July 20. The House approved the bill 312 to 111. H.R. 3574, the Stock Option Accounting Reform Act legislation was introduced on Nov. 21, by House Financial Services Capital Markets, Insurance, and Government Sponsored Enterprises Subcommittee Chairman Richard H. Baker (R-La). Small businesses would be exempt from expensing options, and newly public companies would be able to delay expensing for top executives in the first three years. “There is no dispute that the granting of stock options to a broad base of employees has been and remains a very strong component of job creation within our economy. Does it make sense for those who criticize what they mistakenly call a jobless recovery to take away one of the principal tools that does create jobs when they are still so badly needed? I think not,” Baker said. House Financial Services Committee Chairman Michael G. Oxley (R-Ohio) added “our most successful enterprises, many of which are small businesses and venture capital companies, would not be as successful as they are today but for the ability to attract and retain talented employees by giving them ownership in the endeavor.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.