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.
Chairman, Compensation Committee
Occidental Petroleum Corporation
Member & Former Chairman, Compensation Committee
Safeway, Inc.
Director, Division of Corporation Finance
Securities and Exchange Commission
Arthur M. Rock Center for Entrepreneurship Associate Professor
Harvard University, Graduate School of Business Administration
U.S. Senate Committee on Homeland Security & Governmental Affairs
340 Dirksen Senate Office Building Washington, DC, 20510
(202) 224-2627