Compliant Clawback Policies Must be Adopted Before December 1, 2023

Greg Gautam • August 28, 2023

As noted in a prior pos t , both the  New York Stock Exchange (“NYSE”) and Nasdaq have adopted listing standards that requires issuers to adopt compliant clawback policies by December 1, 2023.  Adoption of such policies and/or the amendment of an existing policy to make it compliant with the NYSE and Nasdaq listing standards will require Board of Director approval.  It is almost September so time is running out to get compliant policies in front of public company boards for their review and approval.

From now to the December 1, 2023 deadline issuers should consider engaging outside counsel to assist with the following tasks: (i) the preparation of a new and compliant clawback policy (or if a policy already exists, the amendment of such policy to comply with applicable listings standards), (ii) the review of existing equity plans, incentive plans and related employment documents to determine whether such documents require amendment to synchronize with the compliant clawback policies, and (iii) consideration of how the issuer intends to disclose the policy in proxy statements filed after December 1, 2023.

Employee burnout: what it is and how to prevent it

By Mardy Gould • May 24, 2024
Employee burnout has become an epidemic in today’s modern workplace. So much so that the World Health Organization (WHO) officially recognizes it as an “occupational phenomenon.”1 While many used to consider mounting workplace stress an individual employee problem, these days, it’s become an employer’s responsibility to prevent burnout before it hurts productivity and business performance—not to mention your employees’ physical and mental health. Luckily, you can prevent burnout from affecting your workforce in several ways. This article will explore the causes and signs of employee burnout and the steps you can take to create a positive work environment where employees feel safe from toxic stress levels.

Form 720 and PCORI fee FAQs

By Mardy Gould • May 23, 2024
If you're a small business owner, you may have heard of the acronym PCORI and the fees that come with it. But what is PCORI, and how does it apply to your organization? Under the Affordable Care Act (ACA), sponsors of self-insured health plans must pay a fee to fund the federal Patient-Centered Outcomes Research Institute (PCORI). PCORI is an independent organization the ACA created to conduct research to help healthcare consumers make better decisions for their specific needs and outcomes. It also performs research related to clinical effectiveness. Employers offering a self-insured medical reimbursement health plan, such as a health reimbursement arrangement (HRA), must pay this fee by July 31 each year via Form 7201. This fee was initially set to expire in 2019, but Congress extended it through September 30, 20292, due to the Further Consolidated Appropriations Act of 20203.
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