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Executive Stock Options: Should the IRS and Stockholders Be Given Different Information?

Permanent Subcommittee on Investigations

Location: Room 342, Dirksen Senate Office Building

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Agenda

The Permanent Subcommittee on Investigations held a hearing entitled, "Executive Stock Options: Should the IRS and Stockholders Be Given Different Information?" examining the role of stock options in executive compensation; the incidence of stock option abuses; how stock option compensation is reported to stockholders under generally accepted accounting principles versus how the same compensation is reported to the IRS under federal tax rules; the origins, nature, and extent of the resulting book-tax difference; and the policy reasons for continuing or ending the stock option book-tax difference.

Witnesses

Panel 1

  • STEPHEN F. BOLLENBACH
    Chairman of the Board of Directors
    KB Home
    Los Angeles, California
    Download Testimony (241k)
  • JOHN S. CHALSTY
    Chairman, Compensation Committee
    Occidental Petroleum Corporation
    Los Angeles, California
    Download Testimony (23k)
  • WILLIAM Y. TAUSCHER
    Member & Former Chairman, Compensation Committee
    Safeway, Inc.
    Pleasanton, California
    Download Testimony (55k)

Panel 2

Panel 3

  • LYNN E. TURNER
    Former SEC Chief Accountant
    Broomfield, Colorado
    Download Testimony (38k)
  • MIHIR A. DESAI
    Arthur M. Rock Center for Entrepreneurship Associate Professor
    Harvard University, Graduate School of Business Administration
    Boston, Massachusetts
    Download Testimony (140k)
  • JEFF MAHONEY
    General Counsel
    Council of Institutional Investors
    Washington, D.C.
    Download Testimony (119k)