John White, Eric Hilfers, Jon Katz, Michael Arnold and Matthew Bobby Author Article on Dollar Cost Averaging in Incentive Compensation for Columbia Law School’s Blue Sky Blog

On February 24, 2022, Columbia Law School’s Blue Sky Blog published an article authored by Cravath partners John W. White, Eric W. Hilfers, Jonathan J. Katz, Michael L. Arnold and Matthew J. Bobby entitled “Dollar Cost Averaging of Long‑Term Incentive Grants: Worthy of Consideration in Volatile Market Environment.” Originally published for Cravath clients on February 2, 2022, the article examines how companies can implement dollar cost averaging in incentive compensation and the benefits of this structure, particularly with the equity markets experiencing renewed volatility at the beginning of 2022. The article concludes that this change would be relatively straightforward and provides steps Compensation Committees, Boards of Directors and companies can take when considering such a change.