Joe Penko advises public and private companies, private equity firms, real estate investment trusts (REITs), executives and boards on executive compensation and employee benefits matters, with a particular emphasis on issues arising in the context of mergers, acquisitions, initial public offerings and other corporate matters. Mr. Penko regularly counsels public and private companies, private equity firms, executive management teams and individual executives on the design, implementation and termination of compensation and benefit arrangements, including executive employment and severance agreements; consulting arrangements; retention, severance and change-in-control plans; cash and equity-based incentive programs; and nonqualified deferred compensation plans. Mr. Penko also frequently advises clients regarding tax rules relating to deferred compensation, excise tax on excess parachute payments and limits on the deductibility of executive compensation. He also advises on U.S. Securities and Exchange Commission rules governing executive compensation disclosure and corporate governance matters. Additionally, he counsels clients on a variety of ESG-related matters. Mr. Penko has been repeatedly selected for inclusion in Chambers USA.
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On January 5, 2023, the U.S. Federal Trade Commission (FTC) issued a notice of proposed rulemaking under the FTC Act with far-reaching implications for U.S. employers. If enacted and enforced, the proposed rule would prohibit employers from entering noncompete clauses with workers, and require (...)
