TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Wednesday, September 6, 2006

Senate Holds Hearing Today on Backdating Options

Senate_25 The Senate Finance Committee holds a hearing today on Executive Compensation: Backdating to the Future/Oversight of Current Issues Regarding Executive Compensation Including Backdating of Stock Options; and Tax Treatment of Executive Compensation, Retirement and Benefits.  Here are the witnesses scheduled to testify:   


  • Paul J. McNulty, Deputy Attorney General
  • Mark Everson, Commissioner, Internal Revenue Service
  • Linda Thomsen, Director, Division of Enforcement, United States Securities and Exchange Commission
  • Nell Minow, Editor, The Corporate Library, Portland, ME
  • Lucian A. Bebchuk, Harvard Law School
  • Charles M. Elson, University of Delaware
  • Steven Balsam, Temple University

Bluebook_10 In connection with the hearing, the Joint Committee on Taxation has released Present Law And Background Relating To Executive Compensation (JCX-39-06):

This document, prepared by the staff of the Joint Committee on Taxation, provides a description of present-law tax rules and issues relating to certain types of executive compensation arrangements, including the $1 million dollar cap on the deduction for executive compensation, nonqualified deferred compensation, stock-based compensation (including the tax issues relating to backdating stock options), and golden parachute payments.   


The hearing and Blue Book come on the heels of an extensive bloogosphere discussion of stock option backdating:

Press reports:

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