Publicly traded corporations: compensation: disclosure.

Existing law provides for the formation and regulation of corporations. Existing law requires that domestic and foreign publicly traded corporations file annually with the Secretary of State a statement disclosing, among other things, the compensation, as specified, paid to each of the members of the corporation's board of directors and its 5 most highly compensated executive officers who are not members of the board, and the chief executive officer, if he or she is not among those executive officers. Existing law requires the Secretary of State to make information required to be included in that statement publicly available, as specified. This bill would, instead, require that a publicly traded corporation include in the statement described above the total compensation, as defined, paid to each member of the board of directors, the principal executive officer, principal financial officer, and each of the 3 most highly compensated executive officers, other than the principal executive officer or principal financial officer, who are not members of the board. The bill would also require a publicly traded corporation to include in that statement total compensation information with respect to each of the corporation's 5 most highly compensated retirees, and the names of those retirees.