April 6, 2005
Securities and Exchange Commission
Dear Securities and Exchange Commission,
I am writing to urge the Securities and Exchange Commission to act on its proposed rule making on executive compensation disclosure. Without better disclosure, shareholders, employees and the general public cannot evaluate whether executive pay packages are unjustly enriching executives or providing fair compensation.
This is so far out of whack it's a joke to us "have-nots".
The newly proposed rules will make this information more accessible to shareholders and the public, as it should've always been.
Shareholders should also be told if directors have potential conflicts of interest, no matter what the amount.
I also urge the SEC to require that companies disclose pay-for-performance data. And finally the SEC should require companies to disclose both the performance criteria and the performance targets they use when setting executive pay.