The Securities and Exchange Commission (the “SEC”) adopted “Clawback Rules,” codified in Rule 10D-1 of the Securities Exchange Act of 1934, as amended. The Clawback Rules require U.S. public companies to develop and adopt a recoupment policy facilitating the recovery (or “clawback”) of incentive-based compensation received by current or former executives. In accordance with Rule 10D-1 and to provide for such clawback requirements, the New York Stock Exchange (“NYSE”) and the Nasdaq Stock Market (“Nasdaq”) each amended its relevant listing standards – the NYSE through Section 303A.14 of the NYSE Listed Company Manual and Nasdaq through Listing Rule 5608. READ MORE