The following Letter Type E, or variations thereof, was submitted by individuals or entities.
Letter Type E:
Dear Securities and Exchange Commission:
I am an American worker and an investor in publicly traded companies through my retirement plan and personal savings.
I strongly support the United States Security & Exchange Commission's proposal to require publicly traded companies to disclose the CEO-to-median worker pay ratio. The ratio disclosure is mandated in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Pay ratio disclosure will help investors evaluate CEO pay levels when voting on executive compensation matters. The ratio of the CEO-to-worker pay is a valuable tool for investors in evaluating and voting on CEO pay; scrutinizing the performance of Boards of Directors; and, identifying possible investment risks.
I believe CEO pay must be put into perspective with pay levels throughout a company's employees. Lopsided CEO-to-worker pay ratios can harm morale and productivity among a company's workforce. This disclosure may help capital markets become more efficient in allocating resources to the companies that re-invest in their workers.
I urge you to adopt the rule as proposed.