It has been close to a decade since the New York Stock Exchange (NYSE) last updated its set of frequently asked questions (FAQs) regarding equity compensation plans. On August 18, 2016, the NYSE released updated FAQs and, although the update primarily clarifies certain FAQs and eliminates certain stale FAQs, it does significantly revise an FAQ relating to shareholder approval of share recycling provisions in equity compensation plans. In particular, the updated FAQ permits NYSE-listed companies to amend their equity compensation plans without shareholder approval to reflect the new accounting rules relating to stock-for-tax withholding.
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