Workforce rewards and executive compensation – Fall 2021

Various workforce rewards and executive compensation developments have occurred since the publication of our last Client Advisory. Key items of interest include:

Executive compensation and governance:

• Taxation of employee stock options
• Say-on-pay voting results
• Draft Ontario Capital Markets Act released for public consultation
• CSA executive compensation disclosure
• Proposed CSA climate-related disclosures
• New requirements for electing directors under the CBCA
• New business corporations statute in Saskatchewan
• Corporate meeting rules in various provinces
• OSFI ends compensation restrictions at federally regulated deposit taking institutions and insurers
• Canada Emergency Wage Subsidy and new support programs
• SEC rule changes on shareholder approval of executive compensation arrangements
• SEC initiatives on ESG
• Representation of women on corporate boards

Workforce Rewards and Pay Equity:

• Federal pay equity legislation in force
• Federal employment equity amendments
• Wage Earner Protection Act changes, effective November 20, 2021
• Working on Sundays in Manitoba
• Minimum wage and statutory holidays in various jurisdictions

Case law:

• Majority voting policies
• Bonus entitlement
• Impact of COVID-19 on reasonable notice
• Vacation and holiday pay class action
• Pay equity

Inclusion and diversity:

• US and international corporate diversity
• International gender pay gap studies
• Teleworking and hybrid arrangements