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Clawbacks: the next big disclosure
GMI estimates two fifths of S&P 500 have already adopted some provisions.
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In 2006, when Microsoft’s compensation committee drafted the company’s first clawback policy, there was no real outcry, recalls John Seethoff, vice president, deputy general counsel and assistant secretary. Three years later, when the board broadened the technology giant’s clawback policy – making the trigger all financial restatements, even ...
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