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Skadden Discusses New SEC Pay-Versus-Performance Compliance & Disclosure Interpretations

Reynolds Holding

On November 21, 2023, the staff of the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance issued eight new Compliance & Disclosure Interpretations (C&DIs), and revised two previously issued C&DIs, relating to the final pay-versus-performance (PVP) disclosure rules adopted last year. Answer: No.

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First Advantage Reports Full Year and Fourth Quarter 2023 Results

Benzinga

Full Year 2023 Highlights 1 Revenues of $763.8 million one-time special dividend payment, $59.0 million acquisition of Infinite ID Fourth Quarter 2023 Highlights 1 Revenues of $202.6 Full Year 2023 Highlights 1 Revenues of $763.8 million one-time special dividend payment, $59.0 million Net Income of $37.3

EBITDA 40
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Boards’ Dilemma: The Compounding Problem Hidden in Share Buyback Execution Products

Reynolds Holding

As a capital allocation decision, share buybacks intersect all three of the main corporate finance activities of investing, financing, and dividends [1]. One of the deep-seated reasons for the splitting of opinion is that share buybacks transfer wealth between shareholders [2].

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Triton International to be Acquired by Brookfield Infrastructure in a $13.3 Billion Take-Private Transaction

Benzinga

Triton common shareholders to receive consideration valued at $85 per share, including $68.50 For our long-term shareholders, this transaction crystalizes a total shareholder return of approximately 700% since the 2016 merger of Triton and TAL International. in cash and $16.50

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Skadden Discusses SEC Guidance on Pay-Versus-Performance Disclosure

Reynolds Holding

Moreover, if PVP disclosure was required in a Form 10 (and its accompanying “information statement”), it would not be possible to complete column (f) of the PVP table with respect to the company’s total shareholder return (TSR), since the spin-off company would not have been publicly traded for any of the years covered by the PVP table.

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Wachtell Lipton Discusses How to Deal with Activist Investors

Reynolds Holding

Meanwhile, companies with robust balance sheets continue to face calls to return more cash to investors in the form of buybacks and special dividends. It is based on the firm’s memorandum, “Dealing with Activist Hedge Funds and Other Activist Investors,” dated August 28, 2023.

Equity 40
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Skadden Discusses SEC’s Pay Versus Performance Disclosure Rules

Reynolds Holding

footnote disclosure to the table for any amounts deducted and added to total compensation of the NEOs to determine the amount of compensation “actually paid” (as described below) and certain related assumptions, as well as the name of each CEO and other NEO included in table for each year and the fiscal year for which they were included.