Executive Compensation Disclosure Update

The Canadian Securities Administrators published a request for comments on a proposed replacement for Form 51-102F6 Statement of Executive Compensation (the Proposed Form). The Proposed Form would expand disclosure of executive compensation in key areas. The stated purpose of the changes is to improve the quality and transparency of executive compensation disclosure, and to present executive compensation information in a more meaningful way. The current Form 51-102F6 has been in place in substantially the same form since 1994. In the fall of 2006, the U.S. Securities and Exchange Commission adopted new rules for executive compensation disclosure, and the Proposed Form largely follows the SEC rules, although there are notable differences. The following will discuss some of the more significant changes being proposed.