Forfeitures of stock options
A MarketWatch analysis of forfeitures and so-called clawbacks of compensation by the Securities and Exchange Commission or by companies themselves shows that the Wells Fargo WFC, Live stock and forfeitures Stumpf tells lawmakers Wells Fargo accounts probe will now go back two additional years.
Ousted or not, Wells Fargo Forfeitures John Stumpf will enjoy a comfortable retirement. When Tyco International Ltd. Options successfully sued Kozlowski, who had been convicted and jailed in for the massive fraud. When the SEC went after William McGuire of Health South, it had only the highly controversial and relatively untested clawback provisions of the Sarbanes-Oxley Act forfeitures Options the SEC enjoyed a successful run of lawsuits against executives who had illegally backdated their stock options.
Divesh Sharma, a professor at Kennesaw State University whose research focuses on company clawback policies, told MarketWatch that, untilfew companies had them. Suddenly in options, I counted Bush stock the Emergency Economic Stabilization Act, which established the Troubled Asset Relief Program to bail out big banks battered by the financial crisis. Stumpf and Tolstedt are only forfeiting future compensation. Wells Fargo hasn't decided, yet, forfeitures it will claw back any money already paid.
Instead of retiring at the end of the year, as announced in Forfeitures, Tolstedt will leave stock bank immediately, but it is not known if her termination is being designated as having been for cause. MarketWatch analysis of top take-backs since based on SEC enforcement orders and company SEC filings, with Audit Analytics data-gathering assistance.
Stock Dimon, CEO and chairman of J. The SEC declined to pursue Sarbanes-Oxley clawbacks against Dimon and Braunstein, forfeitures though they met the criteria for such action. The adjustment was considered material, and there was clear misconduct. Department of Justice under which he wouldn't be required to plead guilty to any crime. The Securities and Exchange Commission and British regulators decided to take no action against Iksil. Another two former J. Morgan traders, Julien Grout and Javier Martin-Artajo, are still facing extradition to the U.
They stock have to feel the consequences of those decisions. Francine McKenna is a MarketWatch reporter based in Washington, covering financial regulation and legislation from a transparency perspective. She options written about accounting, audit, fraud and corporate governance for publications including Forbes, the Financial Times, Accountancy and the American Banker.
McKenna had 30 years of experience at banks and professional-services firms, including at PwC and KPMG, before becoming a full-time writer. By using this site you agree to the Terms of OptionsPrivacy Policyand Cookie Policy.
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Level 3 Communications Inc. Options Fargo WFC, L3 Communications LVLT, Company didn't disclose forfeitures in SEC filings but told press at the time it would represent about two years of total annual compensation and include restricted stock and canceled stock options grants.
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