BILL NUMBER: SB 1208	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Leno

                        FEBRUARY 22, 2012

   An act relating to publicly traded corporations.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1208, as introduced, Leno. Publicly traded corporations:
retiree compensation: disclosure.
   Existing law provides for the formation and regulation of
corporations. Existing law requires domestic and foreign publicly
traded corporations file annually with the Secretary of State a
report disclosing the compensation, as specified, paid to each of the
members of the corporation's board of directors and its 5 most
highly compensated executive officers who are not members of the
board, and the chief executive officer, if he or she is not among
those executive officers.
   This bill would state the intention of the Legislature to enact
legislation that would require those corporations to also report to
the secretary all forms of compensation, including pensions and
benefits from other types of employee benefit plans, to the 5 most
highly compensated retired executive officers of the corporation.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to enact
legislation that would require publicly traded corporations to report
to the Secretary of State all forms of compensation, including
pensions and benefits from other types of employee benefit plans, to
the five most highly compensated retired executive officers of the
corporation.