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

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Shareholder Vote on Executive Compensation Act

To amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation.

Other Bill Titles (4 more)

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... morehide bill summarySee Full Bill Text

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Amendments

This bill has 11 amendments. See All AmendmentsHide All Amendments

Amendments to H.R.1257

Number	Status	Purpose
H.Amdt88	Pass	An amendment numbered 1 printed in the Congressional Record.
H.Amdt89	Pass	An amendment numbered 12 printed in the Congressional Record to clarify that shareholders may meet in special meetings held in lieu of the annual meeting.
H.Amdt90	Offered	An amendment numbered 4 printed in the Congressional Record.
H.Amdt91	Withdrawn	An amendment numbered 6 printed in the Congressional Record to insert a requirement for website disclosure of vote results.
H.Amdt92	Fail	An amendment numbered 13 printed in the Congressional Record to add a requirement for disclosure of activities to influence votes.
H.Amdt93	Fail	An amendment numbered 5 printed in the Congressional Record to insert a new paragraph outlining conditions triggering a vote.
H.Amdt94	Fail	An amendment numbered 3 printed in the Congressional Record to add a new paragraph providing for a majority-elected board exemption.
H.Amdt95	Fail	An amendment numbered 7 printed in the Congressional Record to insert a new paragraph providing that a shareholder who is casting a permitted vote shall be required to disclose to beneficiaries whether such vote was cast to approve or disapprove compensation.
H.Amdt101	Fail	An amendment numbered 9 printed in the Congressional Record to insert a complete new text consisting of a section inserting provisions for disclosure of executive compensation.
H.Amdt102	Fail	An amendment numbered 11 printed in the Congressional Record to insert provisions regarding a deferred compensation exemption.
H.Amdt103	Fail	An amendment numbered 8 printed in the Congressional Record to insert conditional implementation provisions.

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
March 01, 2007		April 20, 2007

Latest Vote

April 20, 2007Roll 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%	Result: Passed

See Full Voting History (9 votes)Hide Voting History Show All Actions (47 actions)Hide Actions

Voting History

Date	Chamber	Question	Aye	Nay	Result
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Passage: H R 1257	269	134	Passed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Motion to Recommit with Instructions: H R 1257	184	222	Failed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Agreeing to the Amendment: Amendment 11 to H R 1257	162	242	Failed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Agreeing to the Amendment: Amendment 10 to H R 1257	160	240	Failed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Agreeing to the Amendment: Amendment 9 to H R 1257	148	257	Failed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Agreeing to the Amendment: Amendment 8 to H R 1257	164	236	Failed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Agreeing to the Amendment: Amendment 7 to H R 1257	161	241	Failed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Agreeing to the Amendment: Amendment 6 to H R 1257	155	244	Failed	See Vote
April 20, 2007	House	H.R.1257 Shareholder Vote on Executive Compensation Act On Agreeing to the Amendment: Amendment 5 to H R 1257	177	222	Failed	See Vote

All Bill Actions

Apr 23, 2007: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Passed roll in the House on Apr 20, 2007. On passage Passed by recorded vote: 269 - 134 (Roll no. 244).
Apr 20, 2007: On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 222 (Roll no. 243).
Apr 20, 2007: The previous question on the motion to recommit with instructions was ordered without objection.
Apr 20, 2007: DEBATE - The House proceeded with ten minutes of debate on the motion to recommit with instructions on H.R. 1257. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment inserting a new paragraph providing a clarification on the non-binding nature of the vote.
Apr 20, 2007: Mr. Feeney moved to recommit with instructions to Financial Services.
Apr 20, 2007: The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
Apr 20, 2007: The previous question was ordered pursuant to the rule.
Apr 20, 2007: The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1257.
Apr 20, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Price of Georgia amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Frank demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a later time.
Apr 20, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Price of Georgia amendment under the five-minute rule.
Apr 20, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Putnam amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Putnam demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a later time.
Apr 20, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Putnam amendment under the five-minute rule.
Apr 20, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Price of Georgia amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Price of Georgia demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a later time.
Apr 20, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Price of Georgia amendment under the five-minute rule.
Apr 20, 2007: The House resolved into Committee of the Whole House on the state of the Union for further consideration.
Apr 20, 2007: Considered as unfinished business.
Apr 18, 2007: Committee of the Whole House on the state of the Union rises leaving H.R. 1257 as unfinished business.
Apr 18, 2007: On motion that the Committee rise Agreed to by voice vote.
Apr 18, 2007: Mr. Frank (MA) moved that the Committee rise.
Apr 18, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the McHenry amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. McHenry demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a later time.
Apr 18, 2007: DEBATE - The Committee of the Whole proceeded with debate on the McHenry amendment under the five-minute rule.
Apr 18, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Campbell amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Campbell demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a later time.
Apr 18, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Campbell amendment under the five-minute rule.
Apr 18, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Garrett amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Garrett demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a later time.
Apr 18, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Garrett amendment under the five-minute rule.
Apr 18, 2007: POSTPONED PROCEEDINGS - At the conclusion of debate on the Sessions amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Sessions demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a later time.
Apr 18, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Sessions amendment under the five-minute rule.
Apr 18, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Jackson-Lee amendment under the five-minute rule.
Apr 18, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Roskam amendment under the five-minute rule.
Apr 18, 2007: DEBATE - The Committee of the Whole proceeded with debate on the Bachus amendment uner the five-minute rule.
Apr 18, 2007: GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1257.
Apr 18, 2007: The Speaker designated the Honorable Anthony D. Weiner to act as Chairman of the Committee.
Apr 18, 2007: House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 301 and Rule XVIII.
Apr 18, 2007: Rule provides for consideration of H.R. 1257 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.
Apr 18, 2007: Considered under the provisions of rule H. Res. 301.
Apr 18, 2007: Rule H. Res. 301 passed House.
Apr 17, 2007: Rules Committee Resolution H. Res. 301 Reported to House. Rule provides for consideration of H.R. 1257 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill.
Added to calendar on Apr 16, 2007: Placed on the Union Calendar, Calendar No. 53..
Apr 16, 2007: Reported (Amended) by the Committee on Financial Services. H. Rept. 110-88.
Added to calendar on Mar 28, 2007: Ordered to be Reported (Amended) by the Yeas and Nays: 37 - 29..
Mar 28, 2007: Committee Consideration and Mark-up Session Held.
Mar 28, 2007: Ordered to be Reported (Amended) by the Yeas and Nays: 37 - 29.
Mar 21, 2007: Committee Consideration and Mark-up Session Held.
Mar 08, 2007: Committee Hearings Held.
Mar 01, 2007: Referred to the House Committee on Financial Services.
Introduced on Mar 01, 2007.

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In the News

April 24, 2007 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 ...