h 15 58427 1244779200 false 1244779200 1 2861 501 111 412305

6/12/2009--Introduced.Shareholder Empowerment Act of 2009 - Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to prohibit national securities exchanges and associations from listing the securities of any issuer unless, to the extent permitted by state law, such issuer requires: (1) the election of directors who receive the majority of votes in uncontested elections or a plurality of votes in contested elections; and (2) directors who are not reelected to offer to tender their resignations. Directs the SEC to: (1) require issuers to identify and provide security holders with an opportunity to vote on director candidates who have been nominated by holders of at least 1% of the issuer's voting securities for at least two years, provided security holders have nominated fewer than a majority of the directors then authorized to serve; (2) prohibit brokers from voting securities on an uncontested election to the board of directors without having received specific instructions from the securities' beneficial owners; and (3) requires listed issuers, to the extent possible, to have an independent chairman of their board of directors who has not served as an executive of the issuer. Requires any proxy or consent or authorization for an annual or other meeting of a securities issuer to permit a separate shareholder vote on executive compensation, though such vote shall not be binding on its board of directors. Directs the SEC to direct the national securities exchanges and national securities associations to prohibit: (1) issuers from retaining advisors in negotiating executive employment or compensation agreements that are not independent or are protected from liability by such issuers; (2) the listing of issuers that do not have a (clawback) policy of recovering executive payments that were unearned due to fraud, faulty financial statements, or some other cause; and (3) the listing of issuers that provide severance payments to senior executives who are terminated for poor performance. Directs the SEC to require additional disclosure of specific performance targets issuers use in determining a senior executive's eligibility for bonuses, equity, and incentive compensation.

1244779200 2009-06-12 Fri Nov 13 21:19:36 -0600 2009 introduced 58427 'act':3 '2009':5 'empower':2 'sharehold':1 74724 false short introduced 58427 'act':3 '2009':5 'empower':2 'sharehold':1 74590 true popular introduced 58427 'act':6 '1934':8 'rule':12 'amend':2 'board':20 'elect':18 'relat':15,26 'secur':4 'execut':30 'provid':10 'requir':25 'certain':24 'compens':28 'exchang':5 'director':22 'standard':14 74580 false official action 58427 1244779200 Fri Jun 12 00:00:00 -0500 2009 199152 Referred to the House Committee on Financial Services. P000595 1731 1130 Longworth House Office Building https://forms.house.gov/peters/contact-form.shtml 9 202-226-2356 Gary 'd':4 '-9':6 'mi':5 'rep':1 'gari':2,7,9 'peter':3,8,10 M 412305 Peters C. Rep. Gary Peters [D, MI-9] 832 N00029277 3340 Democrat 202-225-5802 MI Gary Peters 1.375 http://peters.house.gov/ C001037 1952-01-09 2529 1530 Longworth House Office Building http://www.house.gov/capuano/contact/email.shtml 8 202-225-9322 Michael 'd':4 '-8':6 'ma':5 'rep':1 'capuano':3,8,10 'michael':2,7,9 M 400063 Capuano Michael_E._Capuano E. Rep. Michael Capuano [D, MA-8] 963 N00000267 7019 Democrat 202-225-5111 Roman Catholic MA Mike Michael Capuano 3.83333333333333 http://www.house.gov/capuano/ C001072 1974-10-16 1794 2455 Rayburn House Office Building http://carson.house.gov/contact.me.shtml 7 202-225-5633 André 'd':4 '-7':6 'rep':1 'andr':9 'andré':2,7 'carson':3,8,10 M 412258 Carson Rep. André Carson [D, IN-7] 357 N00029513 4417 Democrat 202-225-4011 IN Andre Carson 2.55555555555556 http://carson.house.gov/ D000191 1947-05-27 5332 2134 Rayburn House Office Building http://www.house.gov/formdefazio/contact.html 4 202-225-0032 Peter 'd':4 '-4':6 'rep':1 'peter':2,7,9 'defazio':3,8,10 M 400100 DeFazio Peter_A._DeFazio A. Rep. Peter DeFazio [D, OR-4] 2529 N00007781 9024 Democrat 202-225-6416 Catholic OR Peter DeFazio 5.86363636363636 http://www.house.gov/defazio/ PeterDeFazio D000355 1926-07-08 8544 2328 Rayburn House Office Building https://forms.house.gov/wyr/welcome.shtml 15 202-226-0371 John 'd':4 'mi':5 '-15':6 'rep':1 'john':2,7,9 'dingel':3,8,10 M 400110 Dingell John_D._Dingell D. Rep. John Dingell [D, MI-15] 5312 N00001783 12544 Democrat 202-225-4071 Roman Catholic MI John Dingell 2.79411764705882 http://www.house.gov/dingell/ E000288 1963-08-04 7107 1130 Longworth House Office Building http://ellison.house.gov/index.php?option=com_content&task=view&id=87 5 202-225-4886 Keith 'd':4 '-5':6 'mn':5 'rep':1 'keith':2,7,9 'ellison':3,8,10 M 412215 Ellison Keith_Ellison Rep. Keith Ellison [D, MN-5] 2084 N00028257 9039 Democrat 202-225-4755 MN Keith Ellison 6.05882352941176 http://ww3.house.leg.state.mn.us/members/members.asp?district=58B RepKeithEllison H000627 1938-10-27 3903 2431 Rayburn House Office Building http://www.house.gov/hinchey/contact/zipauth.shtml 22 202-226-0774 Maurice 'd':4 'ny':5 '-22':6 'rep':1 'mauric':2,7,9 'hinchey':3,8,10 M 400178 Hinchey Maurice_D._Hinchey D. Rep. Maurice Hinchey [D, NY-22] 2559 N00001222 7488 Democrat 202-225-6335 Roman Catholic NY Maurice Hinchey 2.11111111111111 http://www.house.gov/hinchey/ H001032 1948-10-15 4058 1019 Longworth House Office Building http://www.holt.house.gov/contact.shtml 12 202-225-6025 Rush 'd':4 'nj':5 '-12':6 'rep':1 'holt':3,8,10 'rush':2,7,9 M 400184 Holt Rush_D._Holt Dew Rep. Rush Holt [D, NJ-12] 1789 N00000860 7390 Democrat 202-225-5801 Protestant NJ Rush Holt http://www.holt.house.gov RushHolt M001154 1953-05-19 1942 1722 Longworth House Office Building http://bradmiller.house.gov/?sectionid=17&sectiontree=9,17 13 202-225-0181 R. 'd':4 'r':7,10 'nc':5 '-13':6 'rep':1 'brad':9 'miller':3,8,11 'bradley':2 M 400280 Miller Brad_Miller Bradley Rep. Bradley Miller [D, NC-13] 608 Brad N00025093 7143 Democrat 202-225-3032 NC Brad R. Miller 2.875 http://www.house.gov/bradmiller/ MillerNC13 S001145 1944-05-26 2442 1027 Longworth House Office Building http://www.house.gov/schakowsky/contact.shtml 9 202-226-6890 Janice 'd':4 '-9':6 'il':5 'jan':9 'rep':1 'janic':2,7,10 'schakowski':3,8,11 F 400360 Schakowsky Janice_D._Schakowsky D. Rep. Janice Schakowsky [D, IL-9] 883 Jan N00004724 7847 Democrat 202-225-2111 Jewish IL Jan Janice Schakowsky 2.81818181818182 http://www.house.gov/schakowsky JanSchakowsky W000187 1938-08-15 5712 2344 Rayburn House Office Building http://www.house.gov/waters/IMA/issue.htm 35 202-225-7854 Maxine 'd':4 'ca':5 '-35':6 'rep':1 'maxin':2,7,9 'water':3,8,10 F 400422 Waters Maxine_Waters Rep. Maxine Waters [D, CA-35] 2298 N00006690 8439 Democrat 202-225-2201 Christian CA Maxine Waters 1.6969696969697 http://www.house.gov/waters/ MaxineWaters W000800 4383 1404 Longworth House Office Building http://www.house.gov/formwelch/issue_subscribe.htm 0 202-225-6790 Peter 'd':4 '-0':6 'vt':5 'rep':1 'peter':2,7,9 'welch':3,8,10 M 412239 Welch Peter_Welch Rep. Peter Welch [D, VT-0] 2491 N00000515 8180 Democrat 202-225-4115 VT Peter Welch 5.5 http://welch.house.gov/ action 58427 1244779200 Fri Jun 12 00:00:00 -0500 2009 199152 Referred to the House Committee on Financial Services. introduced 58427 1244779200 Fri Jun 12 00:00:00 -0500 2009 199151