NASPP 2023 offered up a number of informative sessions that took attendees through how the new Pay versus Performance rules have bedded in so far and highlighted certain key things to watch for in the year ahead.
The reality is that implementation has been a lot more complicated than originally anticipated. Many issuers found they were spending a significant amount of time on their filings and getting to grips with the new rules.
First proposed back in 2015, the SEC’s Pay versus Performance ruling was officially adopted in August 2022. In broad terms the ruling requires companies to disclose executive compensation payments and actual company financial performance, thereby moving the executive-pay disclosure beyond just the snapshot or moment-in-time approach that has dominated in the past.
It was always anticipated that the first year would mostly be a compliance exercise and it’s expected that a lot more guidance will be put out over the coming months to shed light on some of greyer areas.
With Pay versus Performance going to be into its second year we already can’t wait to see what progress is made and the insights we’ll be getting at the 2024 conference and exhibition.
Communications can make or break the rollout of an equity plan and several sessions highlighted this with a valuable list of real-life takeaways and tips.
The word on the ground? To make your comms plan work for your participants you need to really care about it.
If your staff can’t figure it out or understand how the plan is going to benefit them, they aren’t likely to sign up, so you need to make it fun and engaging. Do something different rather than just sending out the typical sign-up e-mails or letters, whether this is adding an incentive or some digital element, you need to get people involved.
It will be interesting to see what new techniques come into use between now and NASPP 2024.
You get to network and meet your peers.
NASPP is the leading association for resources, education and community building for stock plan professionals. Every Big 4 firm, many top law firms and advisory firms were in attendance this year — many of whom also attended the J.P. Morgan event.
Speaking to your industry peers is a great way to see what similar challenges people have faced and how they faced or overcome them. Having this opportunity to network and then bring these fresh, energized ideas back to your own organization is invaluable, eye-opening and revitalizing.
It’s impossible to not come away from NASPP with a pocketful of exciting ideas.
And speaking of the J.P. Morgan Event — the best views of Washington D.C. were to be seen from the rooftop of the Hay Adams Hotel where we met, celebrated the conference and networked with top clients and peers.
We were delighted to have the opportunity to invite colleagues, from across the share plan industry and beyond, to join us at such a prestigious location.
It will be a tough one to top but we’ve already got a few ideas for our 2024 event — so watch this space.
And speaking of which…
…next year NASPP will return to the city by the bay, San Francisco.
NASPP continues to be one of the highlights in every stock plan professional’s calendar and we hope to meet you all there in 2024 for what has definitely become an unmissable annual event.