According to this BNA blog (http://www.bna.com/sec-proposal-end-b73014445191/), the SEC has proposed to eliminate the Regulation S-K, Item 201(d) disclosure, i.e., the Equity Compensation Plan Information Table that is included in the proxy or annual report depending on whether a compensation plan is being put to shareholder vote. This table provides the outstanding and available shares for shareholder approved and non-shareholder approved equity compensation plans, as well as weighted average exercise price for the outstanding equity awards.
The rationale appears to be that given current financial accounting standards, much of this information is now contained in a company’s publicly-filed financial statements. While that is true to some extent, in my experience, the financial statements are not always the picture of clarity on such disclosure and I believe less information will ultimately be reported about equity plans if this proposal passes.
We will have to watch where this SEC proposal ends up when the final regulations gets issued.