SEC Compensation Report

The SEC has issued it first report on the compensation disclosure practices under the new rules.  We should not be surprised; lawyers are doing what lawyers do.  Lawyers by using traditional techniques are obscuring the data (too much technical information and too much general language, etc).  The SEC is doing what it must -- pointing out that the disclosures are deficient.  The consistently missing part of the package is apparently "analysis".  Companies are supposed to discuss why and how they adopted the packages they did.  Many of the disclosures are silent on the matter.