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SEC action highlights merits of self-reporting
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Corporate Governance, Nonbank Financial
Tuesday, September 12, 2023
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The Securities and Exchange Commission (SEC) recently issued
an enforcement action against Stanley Black & Decker involving inaccurate
proxy disclosures in which the company underreported certain compensation paid
to high-level executives.
Proxy statements filed by the company from 2018-2021
indicate that Stanley paid $1 million on average to four executive officers and
one director. These payments were disclosed as “All Other Compensation” in
financial reports, according to an SEC release.
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