Companhia De Saneamento Basico Do Estado De Sao (SBS) has released an update.
Companhia de Saneamento Básico do Estado de São Paulo (SABESP) has updated its policy on compensation for its management and fiscal council, integrating a ‘Clawback’ provision to recover erroneously awarded remuneration following an accounting restatement. The policy outlines the structure for monthly and annual compensation, including bonuses, which are contingent on the company’s performance and profits. The Clawback policy is aimed at enforcing financial accountability without depending on the filing of restated financial statements, detailing methods for recovery and instances where recovery may be deemed impracticable.
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