7/12/99: SEC Approves Revised New York Stock Exchange Definition of Broadly-Based Plan is an online Alert Letter from Frederic W. Cook & Co. Excerpt:The Exchange generally requires that listed companies obtain shareholder approval for stock option, stock purchase, and other plans under which directors and officers may acquire newly listed shares. There are four exemptions from this requirement, one of which is an exemption for plans that are "broadly-based."
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