Survey Results: CD&As
Given the SEC Chairman's recent remarks on the lack of plain English
in CD&As, we thought it might be useful to ask a few related queries:
 1. At my company, the first draft of the CD&A was
drafted by: (Total responses: n=433)
(select only one) |
| n=164 (37.88%) |
In-house lawyer |
| n=32 (7.39%) |
In-house corporate secretary |
| n=122 (28.18%) |
Human resources staffer |
| n=35 (8.08%) |
Outside compensation consultant |
| n=55 (12.70%) |
Lawyer in outside law firm |
| n=25 (5.77%) |
Other |
|
2. At my company, the following people spent the indicated number of
hours drafting and/or reviewing the CD&A (note ' this survey is just the
CD&A, not the remainder of the compensation disclosures and tables; if
more than one person in a category spent time on the CD&A, combine their
time):
a. In-house lawyers and corporate secretary staff (Total
responses: n=426)
(select only one) |
| n=38 (8.92%) |
0-5 hours |
| n=37 (8.69%) |
5-10 hours |
| n=56 (13.15%) |
10-20 hours |
| n=63 (14.79%) |
20-30 hours |
| n=39 (9.15%) |
30- 40 hours |
| n=73 (17.14%) |
40-80 hours |
| n=120 (28.17%) |
More than 80 hours |
b. Senior management (ie. CEO and/or COO) (Total responses:
n=424)
(select only one) |
| n=214 (50.47%) |
0-5 hours |
| n=114 (26.89%) |
5-10 hours |
| n=57 (13.44%) |
10-20 hours |
| n=21 (4.95%) |
20-30 hours |
| n=7 (1.65%) |
30- 40 hours |
| n=5 (1.18%) |
40-80 hours |
| n=6 (1.42%) |
More than 80 hours |
c. Human resources staffers (Total responses: n=426)
(select only one) |
| n=112 (26.29%) |
0-5 hours |
| n=51 (11.97%) |
5-10 hours |
| n=46 (10.80%) |
10-20 hours |
| n=31 (7.28%) |
20-30 hours |
| n=46 (10.80%) |
30- 40 hours |
| n=43 (10.09%) |
40-80 hours |
| n=97 (22.77%) |
More than 80 hours |
d. Accounting staff, including CFO and controller (Total
responses: n=425)
(select only one) |
| n=133 (31.29%) |
0-5 hours |
| n=98 (23.06%) |
5-10 hours |
| n=66 (15.53%) |
10-20 hours |
| n=46 (10.82%) |
20-30 hours |
| n=30 (7.06%) |
30- 40 hours |
| n=29 (6.82%) |
40-80 hours |
| n=23 (5.41%) |
More than 80 hours |
e. Compensation committee and other directors (Total
responses: n=426)
(select only one) |
| n=162 (38.03%) |
0-5 hours |
| n=148 (34.74%) |
5-10 hours |
| n=79 (18.54%) |
10-20 hours |
| n=23 (5.40%) |
20-30 hours |
| n=6 (1.41%) |
30- 40 hours |
| n=5 (1.17%) |
40-80 hours |
| n=3 (0.70%) |
More than 80 hours |
f. Outside compensation consultants (Total responses: n=412)
(select only one) |
| n=207 (50.24%) |
0-5 hours |
| n=72 (17.48%) |
5-10 hours |
| n=66 (16.02%) |
10-20 hours |
| n=28 (6.80%) |
20-30 hours |
| n=18 (4.37%) |
30- 40 hours |
| n=15 (3.64%) |
40-80 hours |
| n=6 (1.46%) |
More than 80 hours |
g. Outside lawyers (Total responses: n=421)
(select only one) |
| n=117 (27.79%) |
0-5 hours |
| n=101 (23.99%) |
5-10 hours |
| n=77 (18.29%) |
10-20 hours |
| n=39 (9.26%) |
20-30 hours |
| n=33 (7.84%) |
30- 40 hours |
| n=18 (4.28%) |
40-80 hours |
| n=36 (8.55%) |
More than 80 hours |
|
