Compensation Committees face the challenge of balancing the tension in motivating their executives to create shareholder value in the current Say on Pay and economic environment. The current pullback in stock prices and the uncertain financial outlook for 2016 at many companies will make this year’s compensation decisions even more challenging. Read More
Current Pay Governance Viewpoints
Stephen J. Pakela, Brian S. Scheiring and Mike Grasso
Myths and Realities: Assessing the True Relationship Between Executive Pay, Share Buybacks, and Managerial Short-TermismBy Ira T. Kay, Blaine Martin and Chris Brindisi
The past year has seen extensive criticism of share buybacks as an example of “corporate short-termism” within the business press, academic literature, and political community. The critics of share buybacks claim that corporate managers, motivated by flawed executive incentive plans (stock options, bonus plans based on EPS, etc.) and supported by complacent boards, behave myopically and undertake value-destroying buybacks to mechanically increase their own reward. Read More
Aubrey E. Bout, Brian Wilby and Steven Friedman
Executive pay continues to be a hotly debated topic in the boardroom among investors and proxy advisors, and it routinely makes headlines in the media. As the U.S. was in the heart of the financial crisis in 2008 – 2009, CEO total direct compensation (TDC = base salary + actual bonus paid + grant value of long-term incentives) dropped for two consecutive years. Read More
John R. Ellerman and Bentham W. Stradley
The Financial Accounting Standards Board (FASB) has elected to eliminate the concept of extraordinary items under Generally Accepted Accounting Rules (GAAP), effective with fiscal years beginning after December 15, 2015. Read More
Team Member Highlight
- Steven Friedman Consultant | New York
- View Articles by Steven Friedman
Steven Friedman is a Consultant in the New York office of Pay Governance. Steven has experience in various aspects of executive compensation, including peer group development and proxy analysis.
Prior to becoming a consultant at Pay Governance, Steven served as a Senior Associate for over four years in the Corporate Advisory Services division at Thomson Reuters. His area of expertise includes investor relations, client-relationship management, institutional money flow, and capital markets. In his role as a lead analyst, he consulted key corporate clients' investor relations offices. Steven assisted them with all issues relating to investor relations, including shareholder targeting and analysis, benchmarking, and competitive intelligence. Steven has worked with clients in the auto and auto supplier industry, as well as the business services industry.
Steven received a Bachelor of Science degree in Financial Economics from Binghamton University.