This is a great article by Gardner Carton & Douglas–“Integrating the HR Role with the New SEC Accelerated 8-K Filing Requirement.” The article discusses the new SEC Form 8-K filing requirements which became effective on August 23, 2004 and the impact they will have on HR professionals. As stated in the article:
In the past, SERPs, deferred compensation and similar-type plans and awards would ordinarily be disclosed with the company’s next following Form 10-K or 10-Q. Now, adoption or amendments to these enhanced retirement-type vehicles for executive officers must be reported as the decisions are being made and approved by the board of directors. This may change the board of director’ approval process, because with the immediate disclosure, individual arrangements may now receive increased scrutiny from not only the SEC but from the public and media as well.
The article further notes that “HR professionals should anticipate that the board of directors will likely want (on a going forward basis) more information than [was] required in the past, including adequately documented reasoning behind the structure and size of the compensatory arrangement being considered” and that such information “will need to be assembled and available at the time the plan is being approved or amended.”
(You can access the new rules here.)