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Less Than A Third Of Companies Disclosed Actual Performance Targets...

Figures from The Corporate Library's latest study of executive compensation show that less than a third of companies in the S&P 500 disclosed the targets - the actual figures - against which executive compensation was measured. One of the key elements of the changes required by the SEC under its new disclosure regulations was for the Compensation Discussion and Analysis (CD&A) that replaced the Compensation Committee Report to give more information to shareholders about the processes for setting pay and awarding incentives. While almost all companies now disclose the metrics they use to award cash incentives, the disclosure of targets or goals is found only in the minority.

"While this represents a huge increase over practice in the past," commented the report's author Paul Hodgson, The Corporate Library's Senior Research Associate for Executive Compensation, "it is not surprising that the general lack of disclosure in this area was a key focus of the comment letters that the SEC has been sending to companies."

The survey examines the full range of disclosures made, from the very detailed information provided by companies such as Electronic Data Systems to the complete lack of disclosure provided by the CD&A of property company Leucadia.

Survey Details:

The report, available from www.thecorporatelibrary.com for $75, is based on the latest filings made by companies in the S&P 500, almost all of them in compliance with the new disclosure regulations. Review copies of the report may be made available to members of the press on request.

About The Corporate Library:

The Corporate Library provides independent corporate governance research and analysis to enable our clients to enhance value. The company's corporate governance information products, research services and data are sold to the full spectrum of corporate governance stakeholders. Corporate governance research is compiled by market-leading analysts using a proprietary database of over 3,200 public companies and over 40,000 executives and directors. Additional information on The Corporate Library and its suite of online corporate governance data and analysis products can be found on its website at www.thecorporatelibrary.com.

Contact:

Cheri Grimmett

The Corporate Library

207 553-5604

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