Serving on the compensation committee has become a formidable challenge for most directors regardless of one's background or career. Not only do compensation committees have to navigate a host of regulations and complex terminology, but over the last several years, shareholders have made a significant push towards transparency on how decisions are made. Say on pay now gives them a non-binding vote to approve or express their concern about proposed executive remuneration plans. Indeed, serving on the compensation committee has become a delicate balance of interests. In this episode, Bob Romanchek, Partner with Meridian Compensation Partners, outlines five subject-matter issues that all committee members should know if they are joining or serving on a public company's compensation committee. [blockquote source="Bob Romanchek, Partner with Meridian Compensation Partners"]Over the last number of years, the process in executive compensation has become as important as the substance and all the technical rules.[/blockquote] Romanchek shares his foundational ''must knows'' starting with a compensation plans inventory and ending with a proxy advisory review.