On April 30, the SEC announced a proposed rule to require companies to disclose the relationship between executive pay and a company’s financial performance. The new reporting requirement would be in XBRL format. The news release and fact sheet published stated:
Companies would also be required to tag the disclosure in an interactive data format using eXtensible Business Reporting Language, or XBRL. This requirement would be phased-in for smaller reporting companies, so that they would not be required to comply with the tagging requirement until the third annual filing in which the pay-versus-performance disclosure is provided.
Read the release and fact sheet.
If this proposal is approved by the Commission, it will be published on the Federal Register and there will be a 60 day comment period.