The NASPP Blog

We are excited to bring our popular “Meet the Speaker” series back to the NASPP Blog, featuring interviews with speakers at the 22nd Annual NASPP Conference.  This is a great way to get to know our many distinguished speakers and find out a little more about their sessions in advance of the Conference.

For today’s “Meet the Speaker ” interview, we feature an interview with Alan Dye of, who will lead the session “Section 16 & Insider Considerations in Today’s Market.”  Here is what Alan had to say:

NASPP:  Why is your Section 16 compliance particularly time right now?

Alan: Section 16 compliance is a particularly timely topic because the importance of the reporting function for compliance personnel remains high.  Mistakes result in highly visible delinquency disclosures in the company’s proxy statement, and the rule requiring disclosure leaves little room for forgiveness.  The person responsible for Section 16(a) compliance needs to be aware of recent developments in an envirnoment of changing types of equity compensation.

NASPP:  What are some best practices companies should implement?

Alan: Every public company should have a designated compliance person who is responsible for preparing and filing Section 16(a) reports and who is empowered to assure that directors and officers provide to him or her adequate information about their securities transactions in time to permit timely and accurate reporting on Form 4.

NASPP:  There’s always a silver lining; what is the silver lining to Section 16 reporting?

Alan: Rarely does a failure to file a Form 3 or Form 4 on time result in any SEC interest in bringing an enforcement action.  Disclosure of the deliqnency in the proxy statement is the extent of the insider’s punishment.

NASPP:  Tell us something people don’t know about you.

Alan: I was serving as special counsel to SEC Chairman John Shad when some of the staff had the idea to start the George Fitzsimmons Memorial Golf Classic in honor of the late Secretary.  I presented to Chairman Shad the “order” declaring the tournament an official SEC tournament.  I came in second place in one of the early  Fitzsimmons tournaments in the 1980’s, and won the event in 1990.  My golf has never been as good since.

Don’t miss Alan’s session “Section 16 & Insider Considerations in Today’s Market” at the NASPP Conference!

About the NASPP Conference

The 22^nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!