HR 1372 · 108th Congress 2003–2005, ended

Broad-Based Stock Option Plan Transparency Act of 2003

Introduced Mar 20, 2003 Originated House Sponsor David Dreier R-CA

Fact sheet

Latest action · Mar 31, 2003 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedMar 20, 2003
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Broad-Based Stock Option Plan Transparency Act of 2003 - Directs the Securities and Exchange Commission (SEC) to require companies to include within certain mandatory reports details regarding stock option plans, stock purchase plans, and other arrangements involving employee acquisition of an equity interest in the company, including: (1) a discussion of the dilutive effect of stock option plans (written in accordance with the Plain English Handbook published by the Office of Investor Education and Assistance of the Commission); (2) expanded disclosure of the dilutive effect of employee stock options on the company's earnings per share number; (3) prominent placement and increased comparability of all stock option related information; and (4) a summary of stock options granted to the five most highly compensated executive officers, including outstanding stock options of those officers.

Directs the SEC to examine and report to specified congressional committees on the effectiveness of the enhanced disclosures required by this Act in increasing transparency to current and potential investors.

Prohibits the Commission, between enactment of this Act and submission of such report, from recognizing as generally accepted accounting principles any new accounting standards regarding the treatment of stock options.

Directs the Secretary of Commerce to analyze and report to specified congressional committees on broad-based employee stock option plans, particularly in the high technology and any other high growth industries.

Cosponsors 111

Members who signed on, in the order they did. Signatures ran from Mar 20, 2003 to Mar 3, 2004, with 17 there on the day it was introduced.

SeatCosponsorSigned on
D-WAAdam SmithOriginalMar 20, 2003
R-NYAmo HoughtonOriginalMar 20, 2003
D-CAAnna G. EshooOriginalMar 20, 2003
R-VABob GoodlatteOriginalMar 20, 2003
R-IDC. L. (Butch) OtterOriginalMar 20, 2003
D-CACalvin M. DooleyOriginalMar 20, 2003
R-CAChristopher CoxOriginalMar 20, 2003
R-CADoug OseOriginalMar 20, 2003
R-MIFred UptonOriginalMar 20, 2003
D-CAJane HarmanOriginalMar 20, 2003
R-TXLamar SmithOriginalMar 20, 2003
D-CAMichael M. HondaOriginalMar 20, 2003
D-NCMike McIntyreOriginalMar 20, 2003
D-CAMike ThompsonOriginalMar 20, 2003
R-TXPete SessionsOriginalMar 20, 2003
Show all 111 cosponsors

Actions 3

Everything that happened, newest first.

  1. Mar 31, 2003Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
  2. Mar 20, 2003Introduced in House
  3. Mar 20, 2003Referred to the House Committee on Financial Services.

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.