"[P]roposed Item 407(i) would require disclosure, in any proxy or information statement relating to the election of directors, of whether any employee or director, or any of their designees, is permitted to purchase any financial instruments or otherwise engage in transactions that are designed to, or have the effect of, hedging or offsetting any decrease in the market value of equity securities that are granted to the employee or director by the company as compensation or held, directly or indirectly, by the employee or director. Notably, the rule proposal does not require companies to prohibit hedging by employees or directors."