On September 16, 2022, LINKBANCORP, Inc., the holding company of The Gratz Bank, including its LINKBANK division, closed its initial public offering of common stock. LINKBANCORP sold 4,575,000 shares of its common stock at a public offering price of $7.50 per share. This is the second firm commitment Bank IPO completed this year.
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The Securities and Exchange Commission recently adopted regulations that will require extensive disclosure comparing executive compensation to financial performance. The new regulations are effective for the upcoming 2023 annual meeting season.
Our Alert regarding the new provision is available here.
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The Inflation Reduction Act, which was recently signed into law, includes a new excise tax on stock repurchases made by certain corporations. The new excise tax is effective for stock repurchased after December 31, 2022.
Our Alert regarding the new provision is available here.
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The August 8, 2022 deadline for Nasdaq-listed companies to publicly disclose their board diversity statistics is fast approaching. Our refresher on Nasdaq’s requirements for the disclosure is available here.
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The SEC has adopted new rules relating to the required EDGAR submission of “glossy” annual reports. The new rules go into effect six months after July 11, 2022.
Our Alert regarding the new rules is available here.