Source: U.S. Securities and Exchange Commission
From the press release:
Securities and Exchange Commission Chairman Christopher Cox today launched the first-ever online tool that enables investors to easily and instantly compare what 500 of the largest American companies are paying their top executives. The new database highlights the power of interactive data to transform financial disclosure.
The Executive Compensation Reader – available today on the SEC’s Web site at http://www.sec.gov/xbrl – builds on the Commission’s new requirements that went into effect earlier this year to dramatically enhance clarity and completeness of executive compensation disclosure.
By tagging the executive compensation figures in XBRL, the computer language of interactive data, the SEC has created a new online tool to help investors more efficiently view Summary Compensation Tables and certain other data in the proxy statements of large companies. Investors can quickly glimpse the total annual pay as well as dollar amounts for salary, bonus, stock, options and company perks. They can instantly compare those executive compensation figures with other companies by sorting according to industry or size.
The SEC’s new Web tool includes information in XBRL for 500 large companies that have filed proxy statements with the Commission. The new tool includes direct links to companies’ proxy statements, including footnotes and the companies’ explanation of their compensation decisions.