H.R.1257 - Shareholder Vote on Executive Compensation Act

To amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation. view all titles (4)

All Bill Titles

  • Short: Shareholder Vote on Executive Compensation Act as introduced.
  • Short: Shareholder Vote on Executive Compensation Act as passed house.
  • Short: Shareholder Vote on Executive Compensation Act as reported to house.
  • Official: To amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation. as introduced.

Bill's Views

  • Today: 2
  • Past Seven Days: 27
  • All-Time: 2,622
 
Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
02/28/07
 
04/20/07
 
 
 
 
 

 

Latest Vote

Result: Passed - April 20, 2007

Roll call number 244 in the House

Question: On Passage: H R 1257

Required percentage of 'Aye' votes: 1/2 (50%)
Percentage of 'aye' votes: 62%

Democrats Voting 'Aye'

Neil Abercrombie
Rep. Gary Ackerman [D, NY-5]
Thomas Allen
Rep. Jason Altmire [D, PA-4]
Rep. Robert Andrews [D, NJ-1]
Michael Arcuri
Rep. Joe Baca [D, CA-43]
Brian Baird
Rep. Tammy Baldwin [D, WI-2]
Rep. John Barrow [D, GA-12]
Melissa Bean
Rep. Xavier Becerra [D, CA-31]
Rep. Shelley Berkley [D, NV-1]
Rep. Howard Berman [D, CA-28]
Robert Berry
Rep. Timothy Bishop [D, NY-1]
Rep. Sanford Bishop [D, GA-2]
Rep. Earl Blumenauer [D, OR-3]
Rep. Dan Boren [D, OK-2]
Rep. Leonard Boswell [D, IA-3]
Frederick Boucher
Rep. Bruce Braley [D, IA-1]
Rep. Corrine Brown [D, FL-3]
Rep. George Butterfield [D, NC-1]
Rep. Lois Capps [D, CA-23]
Rep. Michael Capuano [D, MA-8]
Rep. Russ Carnahan [D, MO-3]
Christopher Carney
Julia Carson
Rep. Kathy Castor [D, FL-11]
Rep. Ben Chandler [D, KY-6]
Rep. Yvette Clarke [D, NY-11]
Rep. William Clay [D, MO-1]
Rep. Emanuel Cleaver [D, MO-5]
Rep. James Clyburn [D, SC-6]
Rep. Steve Cohen [D, TN-9]
Rep. Jim Cooper [D, TN-5]
Rep. Jim Costa [D, CA-20]
Rep. Jerry Costello [D, IL-12]
Rep. Joe Courtney [D, CT-2]
Robert Cramer
Rep. Joseph Crowley [D, NY-7]
Rep. Elijah Cummings [D, MD-7]
Rep. Susan Davis [D, CA-53]
Artur Davis
Lincoln Davis
Rep. Danny Davis [D, IL-7]
Rep. Peter DeFazio [D, OR-4]
Rep. Diana DeGette [D, CO-1]
William Delahunt
Rep. Rosa DeLauro [D, CT-3]
Rep. Norman Dicks [D, WA-6]
Rep. John Dingell [D, MI-15]
Rep. Lloyd Doggett [D, TX-25]
Rep. Joe Donnelly [D, IN-2]
Rep. Michael Doyle [D, PA-14]
Thomas Edwards
Rep. Keith Ellison [D, MN-5]
Brad Ellsworth
Rahm Emanuel
Rep. Eliot Engel [D, NY-17]
Rep. Anna Eshoo [D, CA-14]
Bob Etheridge
Rep. Sam Farr [D, CA-17]
Rep. Bob Filner [D, CA-51]
Rep. Barney Frank [D, MA-4]
Rep. Gabrielle Giffords [D, AZ-8]
Sen. Kirsten Gillibrand [D, NY]
Rep. Charles Gonzalez [D, TX-20]
Barton Gordon
Rep. Raymond Green [D, TX-29]
Rep. Al Green [D, TX-9]
Rep. Raul Grijalva [D, AZ-7]
Rep. Luis Gutiérrez [D, IL-4]
John Hall
Phil Hare
Rep. Jane Harman [D, CA-36]
Rep. Alcee Hastings [D, FL-23]
Stephanie Herseth Sandlin
Baron Hill
Rep. Maurice Hinchey [D, NY-22]
Rep. Rubén Hinojosa [D, TX-15]
Rep. Mazie Hirono [D, HI-2]
Paul Hodes
Rep. Tim Holden [D, PA-17]
Rep. Rush Holt [D, NJ-12]
Rep. Michael Honda [D, CA-15]
Darlene Hooley
Rep. Steny Hoyer [D, MD-5]
Rep. Jay Inslee [D, WA-1]
Rep. Steve Israel [D, NY-2]
Rep. Jesse Jackson [D, IL-2]
Rep. Sheila Jackson-Lee [D, TX-18]
William Jefferson
Rep. Henry Johnson [D, GA-4]
Rep. Eddie Johnson [D, TX-30]
Stephanie Jones
Steve Kagen
Paul Kanjorski
Rep. Marcy Kaptur [D, OH-9]
Patrick Kennedy
Rep. Dale Kildee [D, MI-5]
Carolyn Kilpatrick
Rep. Ronald Kind [D, WI-3]
Ron Klein
Rep. Dennis Kucinich [D, OH-10]
Rep. James Langevin [D, RI-2]
Tom Lantos
Rep. Rick Larsen [D, WA-2]
Rep. John Larson [D, CT-1]
Rep. Barbara Lee [D, CA-9]
Rep. John Lewis [D, GA-5]
Rep. Daniel Lipinski [D, IL-3]
Rep. David Loebsack [D, IA-2]
Rep. Zoe Lofgren [D, CA-16]
Rep. Stephen Lynch [D, MA-9]
Tim Mahoney
Rep. Carolyn Maloney [D, NY-14]
Rep. Edward Markey [D, MA-7]
James Marshall
Rep. Jim Matheson [D, UT-2]
Rep. Doris Matsui [D, CA-5]
Rep. Carolyn McCarthy [D, NY-4]
Rep. Betty McCollum [D, MN-4]
Rep. James McDermott [D, WA-7]
Rep. James McGovern [D, MA-3]
Rep. Mike McIntyre [D, NC-7]
Rep. Jerry McNerney [D, CA-11]
Michael McNulty
Martin Meehan
Rep. Gregory Meeks [D, NY-6]
Rep. Michael Michaud [D, ME-2]
Rep. George Miller [D, CA-7]
Rep. Bradley Miller [D, NC-13]
Harry Mitchell
Rep. Gwen Moore [D, WI-4]
Dennis Moore
Rep. James Moran [D, VA-8]
Rep. Christopher Murphy [D, CT-5]
Patrick Murphy
John Murtha
Rep. Jerrold Nadler [D, NY-8]
Rep. Grace Napolitano [D, CA-38]
Rep. Richard Neal [D, MA-2]
James Oberstar
David Obey
Rep. John Olver [D, MA-1]
Solomon Ortiz
Rep. Frank Pallone [D, NJ-6]
Rep. Edward Pastor [D, AZ-4]
Rep. Donald Payne [D, NJ-10]
Rep. Collin Peterson [D, MN-7]
Earl Pomeroy
Rep. David Price [D, NC-4]
Rep. Nick Rahall [D, WV-3]
Rep. Charles Rangel [D, NY-15]
Rep. Silvestre Reyes [D, TX-16]
Ciro Rodriguez
Rep. Mike Ross [D, AR-4]
Rep. Steven Rothman [D, NJ-9]
Rep. Lucille Roybal-Allard [D, CA-34]
Rep. Dutch Ruppersberger [D, MD-2]
Rep. Bobby Rush [D, IL-1]
Rep. Timothy Ryan [D, OH-17]
John Salazar
Rep. Loretta Sanchez [D, CA-47]
Rep. Linda Sánchez [D, CA-39]
Rep. John Sarbanes [D, MD-3]
Rep. Janice Schakowsky [D, IL-9]
Rep. Adam Schiff [D, CA-29]
Rep. Allyson Schwartz [D, PA-13]
Rep. Robert Scott [D, VA-3]
Rep. David Scott [D, GA-13]
Rep. José Serrano [D, NY-16]
Joe Sestak
Carol Shea-Porter
Rep. Brad Sherman [D, CA-27]
Rep. Heath Shuler [D, NC-11]
Rep. Albio Sires [D, NJ-13]
Ike Skelton
Rep. Louise Slaughter [D, NY-28]
Rep. Adam Smith [D, WA-9]
Victor Snyder
Hilda Solis
Zachary Space
John Spratt
Rep. Fortney Stark [D, CA-13]
Bart Stupak
Rep. Betty Sutton [D, OH-13]
Ellen Tauscher
Gene Taylor
Rep. Bennie Thompson [D, MS-2]
Rep. Michael Thompson [D, CA-1]
Rep. John Tierney [D, MA-6]
Rep. Edolphus Towns [D, NY-10]
Sen. Tom Udall [D, NM]
Sen. Mark Udall [D, CO]
Rep. Christopher Van Hollen [D, MD-8]
Rep. Nydia Velázquez [D, NY-12]
Rep. Peter Visclosky [D, IN-1]
Rep. Timothy Walz [D, MN-1]
Rep. Debbie Wasserman Schultz [D, FL-20]
Rep. Maxine Waters [D, CA-35]
Diane Watson
Rep. Melvin Watt [D, NC-12]
Rep. Henry Waxman [D, CA-30]
Rep. Anthony Weiner [D, NY-9]
Rep. Peter Welch [D, VT-0]
Robert Wexler
Charles Wilson
Rep. Lynn Woolsey [D, CA-6]
Rep. David Wu [D, OR-1]
Albert Wynn
Rep. John Yarmuth [D, KY-3]

Others Voting 'Aye'

Others Voting 'Abstain'

 

Official Summary

4/20/2007--Passed House amended. Shareholder Vote on Executive Compensation Act - Amends the Securities Exchange Act of 1934 to require a proxy, consent, or authorization for a shareholder meeting occurring on or after January 1, 2009, to permit a separate shareholder vote to approve execu

Official Summary

4/20/2007--Passed House amended. Shareholder Vote on Executive Compensation Act - Amends the Securities Exchange Act of 1934 to require a proxy, consent, or authorization for a shareholder meeting occurring on or after January 1, 2009, to permit a separate shareholder vote to approve executive compensation. States that such shareholder vote shall not be binding on the corporation or board of directors, nor construed:
(1) as overruling a board decision;
(2) to create or imply additional fiduciary duty by such board;
(3) to restrict or limit shareholder ability to make proposals for inclusion in proxy materials related to executive compensation. Requires proxy solicitation material for a shareholder meeting occurring on or after January 1, 2009, concerning disposition of substantially all of an issuer's assets, to disclose compensation agreements or understandings with principal executive officers of either the issuer, or acquiring issuer, regarding (golden parachute) compensation which:
(1) relates to such disposition; and
(2) has not been subject to a shareholder vote. Provides that proxy solicitation material containing such executive compensation disclosures shall require a separate shareholder vote to approve such agreements or understandings. States such a shareholder vote shall not be binding on the corporation or the board of directors, nor construed:
(1) as overruling a board decision;
(2) to create or imply additional fiduciary duty by such board;
(3) to constrain shareholder ability to make proposals for inclusion in proxy materials related to executive compensation.


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Recent News Coverage

View All (29)  |  View Top Rated

04/23/07
Swainson Addresses CA's Troubled Past

Asked to comment on Friday's passage by the House of Representatives of HR 1257, an amendment to the Securities Exchange Act that would provide shareholders ...

Source: CRN, NY
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04/23/07
House Bill Promotes Shareholder Say in Executive Pay

The shareholder vote under the bill (HR 1257) would be advisory only. But Democratic backers of this provision said that investors need a say when companies ...

Source: Washington Business Journal
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04/22/07
House Gives Shareholders a Vote on Exec Pay

The legislation (HR 1257) would require that public companies include in their annual proxy to investors the opportunity to vote on the company's executive ...

Source: BenefitsNext
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Recent Blog Coverage

View All (151)  |  View Top Rated

12/14/08
CA-03: Durston for Congress hitting the airwaves : The Bayne of ...

He also voted no on April 20, 2007, on HR 1257, the Shareholder Vote on Executive Compensation Act intended to limit multi-million dollar golden parachutes. The bill passed with bipartisan support, 269-134. Other Lungren votes in favor ...

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12/14/08
Executive Compensation: December 15, 2008 House Financial Services ...

In March of 2007, Congressman Barney Frank, Chairman of the Financial Services Committee, introduced H.R. 1257, “The Shareholder Vote on Executive Compensation Act.” The bill would require that public companies ensure that shareholders ...

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12/02/08
Rachel Maddow: A Tale of Two Bailouts | Video Cafe

whatever happened to H.R. 1257: Shareholder Vote on Executive Compensation Act? other front and center topics: -"free" trade deals -privatization of resources and SOEs -labor flexibilization/union busting -deregulation ...

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