Writers of annual reports everywhere, take heart! The Securities and Exchange Commission is finally on our side. The Federal Securities Law Blog offers a nice recap:
The SEC has published its observations regarding executive compensation disclosure for the first round of proxy statements that were filed under the new executive compensation rules. … Companies are encouraged to think about how they present information, including by use of plain English …
See the full report. Warning: It doesn’t follow its own advice.
Pfizer did, though. It rewrote its 2006 executive pay report supposedly in plain English. Bill Sweetland at Ragan Communications has a great column on the company’s effort, which hasn’t yet been approved by the SEC or made available to the public. Let’s hope Pfizer at least gets credit for trying.