SEC Requests Comments on Proposed Stock Compensation Rule Changes

The Securities and Exchange Commission (“SEC”) is seeking comments on the proposed amendments to its requirements for unregistered stock compensation plans. With the issuance of Release No. 33-10521, Concept Release on Compensatory Securities Offerings and Sales, the SEC wants to update Rule 701 of the Securities Act of 1933 and the Form S-8 registration statement, and exempt additional stock compensation plans from its registration and reporting rules.

Comments on the proposal are due 60 days after the publication of Release No. 33-10521 in the Federal Register.