Proxy Solicitation Modernization

rate performance to be used by shareholders in evaluating the quality of decisions made by directors standing for re-election.'' \23\ Given technological advancements since the rule's adoption, in particular the ease with which investors can access stock performance information on the internet, we believe that the requirement to provide a stock performance graph is outdated and no longer necessary for these registrants.\24\ Comments received in response to Chairman Paul S. Atkins' Statement on Reforming Regulation S-K that specifically referred to Item 201(e) have nearly universally agreed.\25\ --------------------------------------------------------------------------- \22\ Smaller reporting companies, as defined by 17 CFR 229.10(f)(1), are not required to include the stock performance graph in their annual reports to security holders. See Instruction 6 to Item 201(e) of Regulation S-K. \23\ See Executive Compensation Disclosure, Release No. 33-6962 (Oct. 16, 1992) [57 FR 48126, 48127 (Oct. 21, 1992)]. \24\ The Commission has previously proposed to rescind Item 201(e). See Executive Compensation and Related Party Disclosure, Release No. 33-8655 (Jan. 27, 2006) [71 FR 6542, 6547 (Feb. 8, 2006)] (stating that ``given the widespread availability of stock performance information about companies, industries and indexes through business-related websites or similar sources, we believe