Please join Troutman Pepper Partners Chris Willis and Sheri Adler as they discuss recent developments in equity award delegations for public companies incorporated in Delaware. Sheri, a member of our Employee Benefits and Executive Compensation practice, provides our listeners with a 30,000-foot view of what equity incentive plans typically look like at a public company, such as a publicly traded bank or another financial institution. She then dives deeper into the topic of equity grant-making authority, addressing questions such as:
- Why do many compensation committees appoint an officer or another delegate to grant equity awards?
- Does an equity plan need to be drafted a certain way in order for a delegation to be allowed?
- Which laws govern the ability to delegate?
- What are the rules for setting up an equity delegation in a Delaware company under Delaware General Corporation Law (DGCL) Sections 152 and 157?
- What advice can be given to companies looking to set up equity delegations under the DGCL rules?
- Is there an alternative method for setting up a delegation in a Delaware company?
Transcript: Equity Award Delegations for Publicly Traded Companies (PDF)