On April 29, 2015, the Securities and Exchange Commission (SEC) narrowly approved proposed rules requiring certain reporting companies to disclose the relationship between pay to named executive officers and performance by the reporting companies and their respective peers.

If approved for publication and adopted, the rule would require a covered company to disclose in its proxy statement executive pay and performance information for itself and companies in its peer group. The stated objectives include (i) greater transparency for companies and (ii) better informed shareholders when electing directors and casting advisory votes on executive compensation.