{"data":{"id":"us/17-cfr-240.14a-15","jurisdiction":"us","citation":"17 CFR 240.14a-15","heading":"a-15 Differential and contingent compensation in connection with roll-up transactions.","body":"(a) It shall be unlawful for any person to receive compensation for soliciting proxies, consents, or authorizations directly from security holders in connection with a roll-up transaction as provided in paragraph (b) of this section, if the compensation is:\n(1) Based on whether the solicited proxy, consent, or authorization either approves or disapproves the proposed roll-up transaction; or\n(2) Contingent on the approval, disapproval, or completion of the roll-up transaction.\n(b) This section is applicable to a roll-up transaction as defined in Item 901(c) of Regulation S-K (§ 229.901(c) of this chapter), except for a transaction involving only:\n(1) Finite-life entities that are not limited partnerships;\n(2) Partnerships whose investors will receive new securities or securities in another entity that are not reported under a transaction reporting plan declared effective before December 17, 1993 by the Commission under section 11A of the Act (15 U.S.C. 78k-1); or\n(3) Partnerships whose investors' securities are reported under a transaction reporting plan declared effective before December 17, 1993 by the Commission under section 11A of the Act (15 U.S.C. 78k-1).","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"916203bacc78c3b05b9a287005e4627eea6484ff11b7a69670ad0dc32c354ce9","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-240.14a-14","next":"us/17-cfr-240.14a-16"},"notice":"GroundRules: Original legal text. Not legal advice."}