SEC adopts new S-K Item 407

• Consolidates disclosures about corporate governance
  in one S-K Item
• Updates disclosures about director independence
• Requires new disclosures about compensation committees

• Part of rule-making to revise
  executive compensation disclosures
• SEC Release 33-8732 August 2006

• Final release commentary

See also SEC Interpretations below

S-K Item 407 Interpretations

• Replace prior S-K 407 interpretations in July 1997 Manual of Publicly Available Telephone Interpretations
• Issued 3.14.07
• Divided into two parts

• Questions and Answers of General Applicability
• Interpretive Responses Regarding Particular Situations

Index to Interpretations and related Topic Pages

• Questions And Answers Of General Applicability

SEC_CODE_REF_0090001192884

• Interpretive Responses Regarding Particular Situations

Final release 33-8732A  August 2006

• Corporate governance disclosure §V.D

Proposal release 33-8655  January 2006

• Corporate governance disclosure §V.D

10-K

Form 10

S-1  Item 11(l)  re: (e)(4)

S-3

S-4

S-11

Corporate Governance

Regulation S-K Index