Shearman And Sterling

News July 02, 2015

Lilienfeld Quoted on SEC Clawback Plan

Shearman & Sterling partner Doreen Lilienfeld, head of the firm’s Compensation, Governance & ERISA Group, was quoted in a July 1 Law360 story titled “SEC Clawback Plan To Create Enforcement Nightmares.”

The story pointed out that the new guidelines would “force companies to overhaul their current clawback procedures” while placing companies “in a quandary over how to enforce the stiff measures.”

Lilienfeld noted that certain discretionary bonuses or awards paid based on strategic or operational measures would not be subject to a clawback. “It remains to be seen whether this will change how executives are paid so that less of their compensation is at risk,” she said.