May 12, 2006
I urge the Securities and Exchange Commission to continue to support the adoption of S7-03-06 in its expanded version to include not only executives and directors, but also include highly paid personnel of publicly held companies. Due to the drastic increase in salaries (both current and future obligations) for top paid executives and other personnel within publicly held companies, this information is crucial for investors to make fully informed investment decisions.
I especially urge the SEC to retain any language requiring disclosure of the contractual obligations for key personnel within entertainment industry stock, the so-called "Katie Couric" clause. These key personnel are critical to the performance of certain publicly traded stocks and the investment public should be aware of these obligations.
Please do not bow to pressure from individuals who stand to solely and individually benefit from non-disclosure. This information is as critical to the future performance of certain stocks as information related to director or chief executive pay.
Sincerely,
Ray Overton