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What to Expect in 2026: Anticipated Changes to Executive Compensation Disclosure After the SEC Chairman's NYSE Speech

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Crescent Moran Chasteen wrote an article in Wall Street Lawyer. The article discusses the SEC’s expected modernization of Item...

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Crescent Moran Chasteen wrote an article in Wall Street Lawyer. The article discusses the SEC’s expected modernization of Item 402 of Regulation S-K, which governs executive compensation disclosure, marking the first major overhaul since 2006. Anticipated reforms in 2026, informed by SEC Chairman Paul Atkins’ 2025 NYSE remarks, will emphasize financial materiality, clarity, and scaled requirements for smaller and newly public companies.The SEC aims to reduce overly technical, low-value disclosures and refocus reporting on decision-useful information. Expected changes include a more principles-based, narrative-driven CD&A, streamlined compensation tables highlighting target versus realized pay, continued scrutiny of perquisites, and potential refinements to CEO pay ratio disclosure, encouraging companies to prepare now for a more strategic, investor-focused regime. Read the <a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/bltdc30474f16949d5e/6980befea9b9801eb7ed2a4c/260129-what-to-expect-in-2026-anticipated-changes.pdf" target="_blank">full article</a>.

What to Expect in 2026: Anticipated Changes to Executive Compensation Disclosure After the SEC Chairman's NYSE Speech

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Crescent Moran Chasteen is a partner in Morrison Foerster’s Boston office and a co-chair of the firm’s Executive Compensation + Benefits practice. A nationally recognized advisor to boards, executives, and investors, Crescent brings more than two decades of experience at the intersection of executive compensation, tax, securities, and corporate governance—guiding clients through the complex legal, regulatory, and strategic challenges that shape leadership pay in today’s rapidly evolving market. Crescent partners with public and private companies, high-growth start-ups, investment firms, and nonprofits on executive compensation design and strategy. Known for her ability to balance innovation with compliance, she helps organizations craft incentive structures that drive performance, withstand scrutiny, and align with long-term business goals. Her work spans transformative transactions and emerging sectors—from SPACs, IPOs, and M&A to digital asset ventures. Her practice includes: <ul><li>Executive compensation in major transactions: Advising on executive compensation and employee benefits issues arising in M&A, IPO, and SPAC transactions, including golden parachute (Section 280G) and deferred compensation (Section 409A) analysis, employment and retention agreement negotiations, and post-closing integration. </li><li>Equity and incentive design: Creating and implementing restricted stock, options, restricted stock units, performance stock units, and bespoke performance-based award programs. </li><li>Board and committee governance: Advising boards and compensation committees on pay governance, disclosure, and alignment under SEC and proxy advisory frameworks. </li><li>Regulatory and disclosure compliance: Guiding clients through SEC reporting, say-on-pay readiness, and ERISA/Code compliance for qualified and nonqualified benefit plans. </li><li>Crypto and digital asset compensation: Advising on token-based incentive plans, token purchase agreements, and related instruments; navigating the intersection of cryptocurrency, tax, and securities law; supporting token-based M&A diligence and structuring under U.S. and cross-border regimes. </li><li>Nonprofit leadership compensation: Designing compliant compensation and incentive programs for tax-exempt organizations, including Section 4960 considerations. </li></ul>Crescent’s practice spans industries including life sciences, healthcare, technology, venture capital, financial services, and real estate. Clients rely on her to translate complex tax and securities rules into practical, business-aligned solutions that advance organizational success and stakeholder alignment. Before joining Morrison Foerster, Crescent was a partner at leading multinational law firms in Boston and Washington, D.C., advising Fortune 500 companies and emerging enterprises on executive compensation and employee benefits law. A frequent author and speaker, Crescent contributes thought leadership on evolving compensation trends, governance, and the future of equity and token-based pay. She has served as a co-chair of the Boston Bar Association’s ERISA Subcommittee, a member of the BBA Tax Steering Committee, and an active participant in the ABA Joint Committee on Employee Benefits. Crescent earned her B.A. from the University of Maine, J.D. from Western New England University School of Law, and LL.M. in taxation from Georgetown University Law Center. She clerked for the Honorable Carolyn P. Chiechi of the U.S. Tax Court.