SEC Signals Coming Changes to Executive Compensation Disclosure

On June 26, 2025, the Securities and Exchange Commission (SEC) hosted a roundtable on executive compensation disclosure requirements with representatives from public companies, investors, industry groups and advisors. In his introductory remarks, SEC Chair Paul Atkins referred to the current disclosure requirements as a “Frankenstein patchwork of rules,” a refrain echoed by Commissioners Hester Peirce and Mark Uyeda, each of whom signaled an interest in clarifying certain rules and simplifying current executive compensation disclosure. READ MORE

Senate Tax Package Includes Major Changes to Endowment and Executive Compensation Excise Taxes

On July 1, the Senate approved its version of “The One Big Beautiful Bill Act,” containing several provisions relevant to tax-exempt organizations. Importantly, certain proposed amendments contained in draft legislation released by the Senate Finance Committee two weeks ago (covered in our prior Alert here) were removed from the approved bill following a determination by the Senate Parliamentarian that those provisions were outside the scope of what could be approved by the Senate under the reconciliation procedure. The Senate-approved legislation is substantially different from that approved by the House last month (covered in our prior Alerts here and here). The House must now approve the Senate’s version, or the two chambers must work to reconcile those differences, before the legislation can be sent to the President for signature. READ MORE

AI can help benefit leaders with the compensation process

Determining salaries is one of the most critical pieces to attracting and retaining talent, and technology may have the potential to improve the decision process significantly for benefit managers and employees.  

Over 70% of U.S. companies use AI in some capacity, including compensation decision making, according to business networking platform Connex Partners. While benefit managers may feel uncomfortable relying on automation for something as complex and sensitive as deciding salaries, it has the potential to drastically improve the process for them, as well as current and prospective employees.  READ MORE

Mark Cuban said he was 'embarrassed' to find out some Dallas Mavericks staff needed government benefits

Mark Cuban said he was "embarrassed" to find out some of his staff were having to use government benefit programs.

"When I found out I had employees at our arena on public assistance, I immediately gave raises to every hourly employee and their managers," Cuban said of staff working for the NBA's Dallas Mavericks, adding that he was "embarrassed" to make this discovery. READ MORE

SHRM Opposes California Bill with Blanket Employer Wage Penalty

SHRM has expressed its opposition to California Assembly Bill 1234, introduced by Assemblymember Liz Ortega. The bill proposes a major overhaul of the labor commissioner’s wage claim process, introducing new financial penalties for employers, regardless of fault or intent. While SHRM advocates for the strong enforcement of wage and labor laws, it believes this bill’s disproportionate penalties could hurt employers operating in good faith.  

Under AB 1234, a mandatory 30% administrative penalty would automatically apply to every order, decision, or award the labor commissioner issues — even before any appeal or judicial review can take place. According to SHRM, this blanket penalty would impose a significant financial burden on employers who may simply be exercising their right to due process, particularly in cases where the facts are uncertain or liability is ambiguous. Such a framework discourages legitimate defenses and could dissuade employers from seeking clarity or fairness in disputed claims. READ MORE

These 2 States Have the Lowest Minimum Wage. Here's How Much Full-Time Employees Make a Year

Georgia and Wyoming share the dubious honor of having the lowest state-mandated minimum wages in the U.S., at $5.15 an hour.

However, that applies only to employers and workers who are not covered by the federal Fair Labor Standards Act (FLSA). Otherwise, workers must receive at least the current federal minimum wage of $7.25 per hour, which hasn't changed since 2009. READ MORE

Minimum wage set to rise in 15 cities and states in July. Here's where.

Hundreds of thousands of workers across more than a dozen cities and states will soon receive higher pay, thanks to minimum wage hikes set to take effect July 1. 

More than 800,000 workers in two states —Alaska and Oregon — as well as Washington, D.C., will be impacted by higher minimum wages that go into effect July 1, according to the left-leaning economic think tank Economic Policy Institute (EPI). Additionally, a dozen cities and counties are also set to boost their baseline pay rates next month.  READ MORE

Never assume you’re ‘entitled’ to a salary bump—‘it doesn’t work like that in the real world’

You could have the longest tenure on your team, do your work correctly and on time, and even be well connected at your company — and still be overlooked for a promotion.

This shouldn’t come as a surprise, according to Klutch Sports Group founder and CEO Rich Paul. Too often, employees feel like they’re owed raises and promotions without putting in any extra work to get them, he says. READ MORE

Trends in relative total shareholder return plan design

When it comes to long-term incentive (LTI) vehicles, relative total shareholder return (TSR) remains the most popular performance metric. In fact, TSR was used in more than 50% of performance awards either as a single metric or one of multiple metrics, according to WTW’s 2024 Long-Term Incentives Policies and Practices Report.

Given this prevalence, companies need to stay informed about TSR plan design practices and trends. Considering that design features can affect the associated expense, administrative burden and ultimate value delivered, we surveyed our clients to identify significant TSR award features. READ MORE

6 Ways Companies Can Adapt Compensation For Today’s Complex Workplace

The world of work has changed significantly in recent years, and the evolution is ongoing. The workforce has become more global, flexible and skills-focused, and economic factors, including inflation, supply chain challenges and more, are weighing on leaders’ minds as they seek to balance innovation with financial restraint. Companies are rethinking and revamping their compensation strategies not only for these reasons, but also to address changing employee expectations, remote work and the growing competition for top talent across borders. READ MORE

U.S. Chamber Comments on SEC Request for Information on Executive Compensation

The U.S. Chamber of Commerce (“Chamber”) submits these comments for the Securities and Exchange Commission’s (“SEC”) roundtable regarding public company executive compensation disclosure. The Chamber commends the SEC for holding this roundtable on a timely issue and frequent topic of discussion within the SEC’s corporate disclosure framework. We appreciate the Chairman’s initiative to review disclosures with respect to the public company model to evaluate whether certain disclosures serve as impediments to companies accessing and remaining in the public markets. READ MORE

Donald Trump Weighs In on Plan To Increase Minimum Wage

President Donald Trump expressed uncertainty over whether he would support a Republican-led proposal to raise the federal minimum wage, when asked about the measure at the White House on Wednesday.

The bill, introduced by Republican Senator Josh Hawley of Missouri last week, seeks to double the current federal minimum wage to $15 per hour. In response to a reporter's question on the plan, Trump replied: "I haven't seen it. I'd have to speak to Josh. He's a very good friend of mine." READ MORE

CEO Pay Trends: A Post Proxy Season Recap

The 2025 proxy season has officially concluded, and companies have finished submitting their proxy statements (DEF 14A) to the Securities and Exchange Commission (SEC). These filings provide comprehensive insights into executive compensation practices and corporate governance structures. The following analysis examines fiscal 2024 proxy statements submitted by Equilar 500 companies—the largest U.S. public companies by revenue—and highlights key trends in executive compensation.

The aftermath of the COVID-19 pandemic, ongoing inflationary pressures and political crosswinds have all contributed to an increasingly competitive market for high-level leadership. In response, companies have continued to increase pay packages to attract and retain top talent, especially as the role of the CEO becomes more complex and demanding. This analysis follows compensation trends from 2020-2024, offering a comprehensive view of how executive pay has changed over the years in comparison to median employee compensation, as well as a look into gender pay equity. READ MORE

Forget ‘no tax on tips’—increasing the minimum wage would deliver dramatically larger raises for millions more workers

At President Trump’s direction, Congress is considering proposals to exempt tips from taxable income. After Trump floated this gimmick on the campaign trail, Republican and Democratic elected officials alike have embraced the idea. The House Republican budget bill (H.R. 1) includes a “no tax on tips” provision that gives the illusion of helping lower-income workers—while the rest of the legislation hands huge giveaways to the rich at the expense of the working class. The Senate recently passed a standalone version of no tax on tips that similarly provides the false impression of aiding workers while giving employers excuses to incentivize tipped work and keep base wages low.

If the Trump administration and its allies in Congress genuinely wanted to help tipped and lower-paid workers, there are far better options they could pursue, like raising the federal minimum wage. To illustrate this, we compare the estimated impact of no tax on tips with the Raise the Wage Act of 2025, a bill that would raise the federal minimum wage from $7.25 to $17 an hour by 2030 and gradually phase out the tipped minimum wage. Here is an overview of how the two plans compare. READ MORE

Here's the salary needed to live comfortably in every US state

The cost of living is rising in the United States and many people are finding that maintaining a comfortable lifestyle takes significantly more income than it did in the past. 

To put a number on how much it costs Americans to live comfortably, SmartAsset analyzed how much individuals and families need to earn using the 50/30/20 budgeting rule. This popular financial framework recommends allocating 50% of income to necessities, 30% to discretionary spending and 20% to savings or debt repayment. READ MORE

Tariff-hit firms should review bonuses or risk backlash, US lawyers warn

Businesses hit by tariffs should start reviewing their bonus policies and how deeply they may need to cut executive payouts if they hope to avoid a public backlash, lawyers have said.

Partners at the Silicon Valley law firm Cooley said that while pay was probably the last thing on bosses’ minds as they scramble to adapt to Donald Trump’s unpredictable tariff policies, pay committees should start assessing their options soon. READ MORE

Board stewardship, executive compensation, people and sustainability governance

At a time when businesses must navigate complex stakeholders’ interests and operate in uncertain geopolitical conditions, stewardship has evolved beyond its traditional paradigm.

As stewards of their companies’ assets (both tangible and intangible), boards face the challenges of navigating a landscape that demands a more comprehensive approach — one that integrates risk and sustainability principles into the core fabric of business strategy. READ MORE