Subject: File No.
From: Ivy Lee

February 16, 2017

Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires public corporations to disclose the ratio by which a CEO's pay exceeds the median pay of its other employees. Determining and publishing this ratio is not an onerous burden for any corporation, and as a shareholder, it is a very illuminating metric for an investor to have. Leave Section 953(b) in place and continue to require public corporations to inform shareholders of all relevant aspects of executive compensation.