What else could be said for a guy that uses company money to lobby the Nebraska Legislature to change the law so he can keep everyone from knowing how much money he makes?
8 replies (most recent on top)
The salary information is only his salary related to insurance operations. It excludes banking salary. It is much higher than reported.
All you people mentioning the original post’s reference to Wayne “buying someone off” must all be Directors at USAA. Because that’s exactly how much attention they pay to details. The poster never said anything about buying anyone off. She said that company money is being spent to lobby the Nebraska Legislature to change the law.
“The original poster doesn't know that companies are required by the SEC to disclose executive salaries. I call his/her claim regarding Peacock lobbying Nebraska legislature as bogus.” You know ZILCH about what you’re talking about. USAA isn’t a public company, and no, not even all public companies are under that requirement.
Squad: The Nebraska department of insurance requires all issuers in their state to disclose executive salary info, regardless if it's a public company or not. USAA, as a private compancy, would not normally be required to do so; only public companies need obey this SEC mandate (see public forms SEC 10-K in company's annual reporting).
As for Wayne "buying" any one off, that's absurd. USAA corp hired a lobbyist to fight the "unjust" law, saying that compensation is private & competitive information. If anything, they are buying him off! (Legally) That local government has given tax breaks to USAA to build and maintain offices in their main state (TX), and during covid USAA had to pay back those credits because people remained at home (like $1MM, IIRC). If you want to put on a tin foil hat, I heard a source say SA mayor pushed WP to bring more foot trafic to local businesses who have been complaining.
Nebraska is the only state that requires salary information for executives when you make a P&C rate change filing. I can neither confirm nor deny that Wayne is lobbying the NE legislature to change that requirement.
Regarding the SEC...since USAA is not a publicly traded company, the SEC does not regulate the requirement of salary information being publicly available. So, the only time executive salary is publicly available is when USAA files a P&C rate filing in NE.
In addition, the salary that is shown is only the salary he receives from P&C...it does not include the portion of the salary he receives from Life or the Bank or from any other USAA entity.
The original poster doesn't know that companies are required by the SEC to disclose executive salaries. I call his/her claim regarding Peacock lobbying Nebraska legislature as bogus.
I agree with the last poster. Where do I find this information about Peacock buying off the Nebraska legislature? I did a search and turned up with nothing. If you're going to accuse someone of some wrongdoing, at least back it up with some facts.
PhatCat
Please post where i can find this information you mention. Where did you determine Waybe is lobbying Nebrasksa? It is really funny that law exists btw. Oops Wayne!