Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts and other financial community constituents. The largest professional investor relations association in the world, NIRI’s more than 3,500 members represent 2,000 publicly held companies and $5.4 trillion in stock market capitalization.

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IR & Board Team

One Dodd-Frank regulation the SEC will work towards completing in 2012 is a requirement for companies to disclose average compensation of employees compared to CEO compensation and stock price. Based upon the how the law is currently written, implementation will create many challenges for companies. NIRI recently joined more than 20 other organizations requesting the SEC exercise care and prudence as it considers the required rulemaking.

Here are a few other items that crossed my desk this past week:
• IR and Board Team Up! NIRI Board member Barbara Gasper of MasterCard along with the Chair of the company’s Audit Committee took time last week to be interviewed by This Week in the Boardroom to discuss the interaction and critical role IR plays in the boardroom. • ISS and Executive Compensation. Check out the latest ISS white paper on executive compensation trends. Last week another insider trading case came to light with accusations of trades that earned more than $50 million in illicit profits. While public information is not complete, it appears a rotational IR person from a publicly traded company may have been involved, although not charged with a crime. I bring this issue to your attention because IR departments may retain interns, have rotational employees or employ other temporary help. Given the sensitive information IR is exposed to, this case is an excellent reminder of the importance of ethics as the bedrock of any compliance and training program. NIRI members, for example, agree to abide by NIRI’s Code of Ethics and regularly benefit from related professional education through seminars, publications, conferences, etc.

Finally, we expect to invite a sample of NIRI corporate members to participate in a survey regarding annual shareholder meeting practices. Please take a few minutes to participate in this timely survey if you receive an invitation – this is our first look at annual meeting practices in quite a while and will establish a baseline for understanding future trends.

Until next week,

Jeff Morgan, FASAE, CAE
President & CEO
jmorgan@niri.org
www.twitter.com/jeffreydmorgan

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National Investor Relations Institute

IR & Board Team