By CorpGov Editorial Staff
On Jan. 9, the Securities and Exchange Commission issued a cease-and-desist order charging McDonald’s Corp. and its ex-CEO, Stephen Easterbrook, with multiple disclosure violations related to Easterbrook’s departure following his inappropriate relationships with employees.
The SEC concluded that Item 402 of Regulation S-K, which requires companies to disclose all material elements of compensation of named executive officers, required McDonald’s to disclose that it exercised discretion in terminating Easterbrook without cause and allowing him to retain equity‑based compensation. The order evidences the SEC’s continued focus on executive-related issues and serves as a cautionary tale for companies and executives alike.
Read Full article on the SEC Order HERE
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