NYSE Listed Company Manual Section 802.01F

Key provisions:

• Listed companies must comply with NYSE executive compensation recovery (clawback) requirements.
• Companies must notify the Exchange within five days of a clawback compliance failure and publicly disclose the deficiency and expected remediation status.
• The Exchange may provide an initial cure period of up to six months and, in appropriate circumstances, an additional cure period of up to six months.
• The Exchange may deny, shorten, or terminate a cure period and begin delisting proceedings immediately based on the company’s circumstances or other listing concerns.
• Failure to regain compliance within any permitted cure period can result in immediate suspension and delisting proceedings.
• Companies subject to delisting for clawback-related noncompliance are not eligible to use certain standard NYSE review procedures and are instead subject to the Exchange’s delisting process.
• A company cannot remain listed if it has not cured the deficiency within 12 months of receiving the Exchange’s deficiency notification.