Federal Register / Vol. 82, No. 186 / Wednesday, September 27, 2017 / Rules and Regulations 44915 

mile radius (reduced from a 6.5-mile 

radius) to 12.3 miles (increased from 

12.2 miles) north of the airport, and 

removing the segment within 2.5 miles 

each side of the 000° bearing of the 

Leesville NDB extending from the 6.5- 

mile radius to 7.3 miles north of the 

airport; and 

Harry P. Williams Memorial Airport, 

Patterson, LA, by removing the segment 

within 2.5 mile each side of the 233° 

bearing from the Patterson RBN 

extending from the 6.5-mile radius to 

7.5 miles southwest of the airport. 

Additionally, the geographic 

coordinates for Harry P. Williams 

Memorial Airport, are adjusted to 

coincide with the FAA’s aeronautical 

database. 

Airspace reconfiguration is necessary 

due to the decommissioning of the 

Leesville NBD and Patterson RBN, and 

cancellation of the navigation aid 

approaches at these airports. Controlled 

airspace is necessary for the safety and 

management of standard instrument 

approach procedures for IFR operations 

at these airports. 

Class E airspace designations are 

published in paragraph 6005 of FAA 

Order 7400.11B, dated August 3, 2017, 

and effective September 15, 2017, which 

is incorporated by reference in 14 CFR 

71.1. The Class E airspace designations 

listed in this document will be 

published subsequently in the Order. 

Regulatory Notices and Analyses 

The FAA has determined that this 

regulation only involves an established 

body of technical regulations for which 

frequent and routine amendments are 

necessary to keep them operationally 

current, is non-controversial and 

unlikely to result in adverse or negative 

comments. It, therefore: (1) Is not a 

‘‘significant regulatory action’’ under 

Executive Order 12866; (2) is not a 

‘‘significant rule’’ under DOT 

Regulatory Policies and Procedures (44 

FR 11034; February 26, 1979); and (3) 

does not warrant preparation of a 

regulatory evaluation as the anticipated 

impact is so minimal. Since this is a 

routine matter that only affects air traffic 

procedures and air navigation, it is 

certified that this rule, when 

promulgated, does not have a significant 

economic impact on a substantial 

number of small entities under the 

criteria of the Regulatory Flexibility Act. 

Environmental Review 

The FAA has determined that this 

action qualifies for categorical exclusion 

under the National Environmental 

Policy Act in accordance with FAA 

Order 1050.1F, ‘‘Environmental 

Impacts: Policies and Procedures,’’ 

paragraph 5–6.5.a. This airspace action 

is not expected to cause any potentially 

significant environmental impacts, and 

no extraordinary circumstances exist 

that warrant preparation of an 

environmental assessment. 

Lists of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

Adoption of the Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

amends 14 CFR part 71 as follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D, AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

■ 1. The authority citation for part 71 

continues to read as follows: 

Authority: 49 U.S.C. 106(f), 106(g); 40103, 

40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 

1959–1963 Comp., p. 389. 

§ 71.1 [Amended] 

■ 2. The incorporation by reference in 

14 CFR 71.1 of FAA Order 7400.11B, 

Airspace Designations and Reporting 

Points, dated August 3, 2017, and 

effective September 15, 2017, is 

amended as follows: 

Paragraph 6005. Class E Airspace Areas 

Extending Upward From 700 Feet or More 

Above the Surface of the Earth. 

* * * * * 

ASW LA E5 Leesville, LA [Amended] 

Leesville Airport, LA 

(Lat. 31°10′06′′ N., long. 93°20′33′′ W.). 

That airspace extending upward from 700 

feet above the surface within a 6.4-mile 

radius of Leesville Airport, and within 3.7 

miles each side of the 360° bearing from the 

airport extending from the 6.4-mile radius to 

12.3 miles north of the airport, excluding that 

airspace within the Fort Polk, LA, Class D 

airspace area, and excluding that airspace 

within restricted area R–3803A. 

* * * * * 

ASW LA E5 Patterson, LA [Amended] 

Patterson, Harry P. Williams Memorial 

Airport, LA 

(Lat. 29°42′34′′ N., long. 91°20′20′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 6.5-mile 

radius of Harry P. Williams Memorial 

Airport. 

Issued in Fort Worth, Texas, on September 

19, 2017. 

Walter Tweedy, 

Acting Manager, Operations Support Group, 

ATO Central Service Center. 

[FR Doc. 2017–20591 Filed 9–26–17; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2016–9481; Airspace 

Docket No. 16–ASW–18] 

Amendment of Class E Airspace; 

Midland, TX and Establishment of 

Class E Airspace; Odessa, TX and 

Midland, TX 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule. 

SUMMARY: This action modifies Class E 

airspace extending upward from 700 

feet above the surface at Midland 

International Air and Space Port Airport 

(formerly Midland International 

Airport), Midland, TX, due to the 

closing of Mabee Ranch Airport, 

decommissioning of the Mabee nondirectional radio beacon (NDB), and 

cancellation of NDB approaches at 

Mabee Ranch Airport. Additionally, this 

action establishes Class E airspace 

extending upward from 700 feet above 

the surface at Odessa AirportSchlemeyer Field, Odessa, TX and 

Midland Airpark, Midland, TX, to 

accommodate special instrument 

approach procedures developed at these 

airports to enhance the safety and 

management of standard instrument 

approach procedures for instrument 

flight rules (IFR) operations. Also, an 

editorial change is made to the Class E 

surface area airspace legal description 

replacing Airport/Facility Directory 

with the term Chart Supplement. In 

addition, the airport name is changed to 

Midland International Air and Space 

Port Airport to coincide with the FAA’s 

aeronautical database. 

DATES: Effective 0901 UTC, December 7, 

2017. The Director of the Federal 

Register approves this incorporation by 

reference action under Title 1, Code of 

Federal Regulations, part 51, subject to 

the annual revision of FAA Order 

7400.11 and publication of conforming 

amendments. 

ADDRESSES: FAA Order 7400.11B, 

Airspace Designations and Reporting 

Points, and subsequent amendments can 

be viewed online at http://www.faa.gov/ 

air_traffic/publications/. For further 

information, you can contact the 

Airspace Policy Group, Federal Aviation 

Administration, 800 Independence 

Avenue SW., Washington, DC 20591; 

telephone: (202) 267–8783. The Order is 

also available for inspection at the 

National Archives and Records 

Administration (NARA). For 

information on the availability of FAA 


asabaliauskas on DSKBBXCHB2PROD with RULES
44916 Federal Register / Vol. 82, No. 186 / Wednesday, September 27, 2017 / Rules and Regulations 

Order 7400.11B at NARA, call (202) 

741–6030, or go to https://www.

archives.gov/federal-register/cfr/ibrlocations.html. 

FAA Order 7400.11, Airspace 

Designations and Reporting Points, is 

published yearly and effective on 

September 15. 

FOR FURTHER INFORMATION, CONTACT: 

Rebecca Shelby, Federal Aviation 

Administration, Operations Support 

Group, Central Service Center, 10101 

Hillwood Parkway, Fort Worth, TX 

76177; telephone (817) 222–5857. 

SUPPLEMENTARY INFORMATION: 

Authority for This Rulemaking 

The FAA’s authority to issue rules 

regarding aviation safety is found in 

Title 49 of the United States Code. 

Subtitle I, Section 106 describes the 

authority of the FAA Administrator. 

Subtitle VII, Aviation Programs, 

describes in more detail the scope of the 

agency’s authority. This rulemaking is 

promulgated under the authority 

described in Subtitle VII, Part A, 

Subpart I, Section 40103. Under that 

section, the FAA is charged with 

prescribing regulations to assign the use 

of airspace necessary to ensure the 

safety of aircraft and the efficient use of 

airspace. This regulation is within the 

scope of that authority as it amends 

Class E airspace extending upward from 

700 feet above the surface at Midland 

International Air Space Port Airport by 

removing Mabee Ranch Airport, 

Midland, TX, due to closing of the 

airport; and establishes Class E airspace 

at Odessa Airport-Schlemeyer Field, 

Odessa, TX, and Midland Airpark, 

Midland, TX, to support special 

instrument approach procedures for IFR 

operations at these airports. 

History 

On May 26, 2017, the FAA published 

in the Federal Register (82 FR 24266) 

Docket No. FAA–2016–9481, a notice of 

proposed rulemaking (NPRM) to amend 

Class E airspace at Midland 

International Air and Space Port 

Airport, Midland, TX; and establish 

Class E airspace extending upward from 

700 feet above the surface at Odessa 

Airport-Schlemeyer Field, Odessa, TX, 

and Midland Airpark, Midland, TX. 

Interested parties were invited to 

participate in this rulemaking effort by 

submitting written comments on the 

proposal to the FAA. No comments 

were received. 

Class E airspace designations are 

published in paragraph 6002, and 6005, 

respectively, of FAA Order 7400.11B, 

dated August 3, 2017, and effective 

September 15, 2017, which is 

incorporated by reference in 14 CFR 

71.1. The Class E airspace designations 

listed in this document will be 

published subsequently in the Order. 

Availability and Summary of 

Documents for Incorporation by 

Reference 

This document amends FAA Order 

7400.11B, Airspace Designations and 

Reporting Points, dated August 3, 2017, 

and effective September 15, 2017. FAA 

Order 7400.11B is publicly available as 

listed in the ADDRESSES section of this 

document. FAA Order 7400.11B lists 

Class A, B, C, D, and E airspace areas, 

air traffic service routes, and reporting 

points. 

The Rule 

This amendment to Title 14, Code of 

Federal Regulations (14 CFR) part 71 

modifies: Class E airspace extending 

upward from 700 feet above the surface 

to within a 7.1-mile radius (from a 17.4- 

mile radius) of Midland International 

Air and Space Port Airport, Midland, 

TX, and also amends the airport name 

from Midland International Airport to 

Midland International Air and Space 

Port Airport in this and other associated 

Class E airspace areas. Airspace 

reconfiguration is necessary due to the 

closing of Mabee Ranch Airport, and 

decommissioning and cancellation of 

the Mabee NDB and NDB approaches. 

This action also established Class E 

airspace extending upward from 700 

feet above the surface within a 6.6-mile 

radius of both Midland Airpark, 

Midland, TX and Odessa AirportSchlemeyer Field, Odessa, TX, to 

accommodate special instrument 

approach procedures for IFR operations 

at these airports. 

Additionally, this action makes an 

editorial change in the legal description 

by replacing Airport/Facility Directory 

with the term Chart Supplement in the 

Class E surface area airspace. 

Class E airspace areas are published 

in Paragraph 6002 and 6005, 

respectively, of FAA Order 7400.11B, 

dated August 3, 2017, and effective 

September 15, 2017, which is 

incorporated by reference in 14 CFR 

71.1. The Class E airspace designation 

listed in this document will be 

published subsequently in the Order. 

Regulatory Notices and Analyses 

The FAA has determined that this 

regulation only involves an established 

body of technical regulations for which 

frequent and routine amendments are 

necessary to keep them operationally 

current, is non-controversial and 

unlikely to result in adverse or negative 

comments. It, therefore: (1) Is not a 

‘‘significant regulatory action’’ under 

Executive Order 12866; 2) is not a 

‘‘significant rule’’ under DOT 

Regulatory Policies and Procedures (44 

FR 11034; February 26, 1979); and (3) 

does not warrant preparation of a 

regulatory evaluation as the anticipated 

impact is so minimal. Since this is a 

routine matter that only affects air traffic 

procedures and air navigation, it is 

certified that this rule, when 

promulgated, does not have a significant 

economic impact on a substantial 

number of small entities under the 

criteria of the Regulatory Flexibility Act. 

Environmental Review 

The FAA has determined that this 

action qualifies for categorical exclusion 

under the National Environmental 

Policy Act in accordance with FAA 

Order 1050.1F, ‘‘Environmental 

Impacts: Policies and Procedures,’’ 

paragraph 5–6.5.a. This airspace action 

is not expected to cause any potentially 

significant environmental impacts, and 

no extraordinary circumstances exist 

that warrant preparation of an 

environmental assessment. 

Lists of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

Adoption of the Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

amends 14 CFR part 71 as follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D, AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

■ 1. The authority citation for part 71 

continues to read as follows: 

Authority: 49 U.S.C. 106(f), 106(g); 40103, 

40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 

1959–1963 Comp., p. 389. 

§ 71.1 [Amended] 

■ 2. The incorporation by reference in 

14 CFR 71.1 of FAA Order 7400.11B, 

Airspace Designations and Reporting 

Points, dated August 3, 2017, and 

effective September 15, 2017, is 

amended as follows: 

Paragraph 6002 Class E Airspace Areas 

Designated as Surface Areas. 

* * * * * 

ASW TX E2 Midland International Air and 

Space Port Airport, TX [Amended] 

Midland International Air and Space Port 

Airport, TX 

(Lat. 31°56′33′′ N., long. 102°12′07′′ W.) 

Within a 5-mile radius of Midland 

International Air and Space Port Airport. 

This Class E airspace area is effective during 

the specific dates and times established in 


asabaliauskas on DSKBBXCHB2PROD with RULES
Federal Register / Vol. 82, No. 186 / Wednesday, September 27, 2017 / Rules and Regulations 44917 

1Pay Ratio Disclosure, Release No. 33–9877 (Aug. 

5, 2015) [80 FR 50103 (Aug. 18, 2015)] (‘‘Pay Ratio 

Release’’). 

2 15 U.S.C. 78n(i). 

3Public Law 111–203, sec. 953(b), 124 Stat. 1376, 

1904 (2010), as amended by Public Law 112–106, 

sec. 102(a)(3), 126 Stat. 306, 309 (2012). 

4Pay Ratio Release, supra note 1, at 50106. 

5 Id. at 50107. 

6See, e.g., letters from Business Roundtable (Mar. 

23, 2017) (‘‘BRT’’), Davis Polk & Wardwell LLP 

(Mar. 23, 2017) (‘‘Davis Polk’’), Financial Services 

Roundtable (Mar. 23, 2017) (‘‘FSR’’), The Insurance 

Coalition (Mar. 23, 2017) (‘‘Insurance Coalition’’), 

National Association of Manufacturers (Mar. 23, 

2017) (‘‘NAM’’), and Society for Corporate 

Governance (Mar. 24, 2017) (‘‘SCG’’) available at 

https://www.sec.gov/comments/pay-ratiostatement/payratiostatement.htm. 

7See Division of Corporation Finance Guidance 

on Calculation of Pay Ratio Disclosure, September 

21, 2017, available at https://www.sec.gov/rules/ 

interp/2017/33-10415.pdf. 

8See Pay Ratio Release, supra note 1, at 50135— 

50138. 

9See, e.g., Instruction 2 and Instruction 4 to Item 

402(u) of Regulation S–K (17 CFR 229.402(u)). 

10See Instruction 4 to Item 402(u) of Regulation 

S–K. 

11 Id. 

12 Id. 

13See, e.g., letters from BRT, Davis Polk, and 

NAM. 

14 17 CFR 229.402(u)(1). 

advance by a Notice to Airmen. The effective 

date and time will thereafter be continuously 

published in the Chart Supplement. 

Paragraph 6005 Class E Airspace Areas 

Extending Upward From 700 Feet or More 

Above the Surface of the Earth. 

* * * * * 

ASW TX E5 Midland, TX [Amended] 

Midland International Air and Space Port 

Airport, TX 

(Lat. 31°56′33′′ N., long. 102°12′07′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 7.1-mile 

radius of Midland International Air and 

Space Port Airport. 

ASW TX E5 Midland, TX [New] 

Midland Airpark, TX 

(Lat. 32°02′12′′ N., long. 102°06′05′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 6.6-mile 

radius of Midland Airpark. 

* * * * * 

ASW TX E5 Odessa, TX [New] 

Odessa Airport-Schlemeyer Field, TX 

(Lat. 31°55′17′′ N., long. 102°23′14′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 6.6-mile 

radius of Odessa Airport-Schlemeyer Field 

Airport. 

Issued in Fort Worth, Texas, on September 

19, 2017. 

Walter Tweedy, 

Acting Manager, Operations Support Group, 

ATO Central Service Center. 

[FR Doc. 2017–20592 Filed 9–26–17; 8:45 am] 

BILLING CODE 4910–13–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Parts 229 and 249 

[Release No. 33–10415; 34–81673; File No. 

S7–07–13] 

Commission Guidance on Pay Ratio 

Disclosure 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Interpretation. 

SUMMARY: The Securities and Exchange 

Commission is publishing interpretive 

guidance to assist registrants in 

preparation of their pay ratio 

disclosures required by Item 402(u) of 

Regulation S–K. 

DATES: Effective Date: September 27, 

2017. 

FOR FURTHER INFORMATION CONTACT: John 

Fieldsend, Special Counsel, or Steven G. 

Hearne, Senior Special Counsel, at (202) 

551–3430, in the Division of 

Corporation Finance; 100 F Street NE., 

Washington, DC 20549. 

SUPPLEMENTARY INFORMATION: 

I. Introduction 

In 2015, the Commission adopted a 

rule 1 to implement the pay ratio 

disclosure requirement 2 mandated by 

Section 953(b) of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act.3 In doing so, the Commission 

stated its belief that, in order for the 

data points provided by the rule to be 

of use to investors, the pay ratio rule 

‘‘should be designed to allow 

shareholders to better understand and 

assess a particular registrant’s 

compensation practices and pay ratio 

disclosures rather than to facilitate a 

comparison of this information from one 

registrant to another.’’ 4 Consistent with 

this view, the Commission stated that it 

sought to provide flexibility in a manner 

that would ‘‘reduce costs and burdens 

for registrants while preserving what we 

perceive to be the purpose and intended 

benefits’’ of the statutorily mandated 

disclosure.5 Under the final rule, 

registrants must provide pay ratio 

disclosure for the first fiscal year 

beginning on or after January 1, 2017, 

which means that registrants will begin 

making pay ratio disclosures in early 

2018. 

In light of the approaching 

compliance date and concerns raised 

about the implementation of the 

disclosure requirement,6 this release 

provides additional guidance to assist 

registrants in their compliance efforts. 

In addition, the Commission staff is 

publishing guidance about the use of 

statistical sampling to assist registrants 

in determining their median employee 

for purposes of the pay ratio disclosure.7

II. Commission Guidance 

A. Use of Reasonable Estimates, 

Assumptions, and Methodologies and 

Statistical Sampling 

The pay ratio rule affords significant 

flexibility to registrants in determining 

appropriate methodologies to identify 

the median employee and calculating 

the median employee’s annual total 

compensation.8 Required disclosure 

may be based on a registrant’s 

reasonable belief; use of reasonable 

estimates, assumptions, and 

methodologies; and reasonable efforts to 

prepare the disclosures.9 Specifically, 

the rule permits registrants to use 

reasonable estimates to identify the 

median employee, including by using 

statistical sampling and a consistently 

applied compensation measure (such as 

payroll or tax records).10 The rule also 

allows registrants to use reasonable 

estimates in calculating the annual total 

compensation or any elements of annual 

total compensation for employees.11

The rule further provides that if a 

registrant changes its methodology or its 

material assumptions, adjustments, or 

estimates, and the effects are significant, 

the registrant must briefly describe the 

change and the reasons for the change.12

In light of the use of estimates, 

assumptions, adjustments, and 

statistical sampling permitted by the 

rule, pay ratio disclosures may involve 

a degree of imprecision. This has led 

some commenters to express concerns 

about compliance uncertainty and 

potential liability.13 In our view, if a 

registrant uses reasonable estimates, 

assumptions or methodologies, the pay 

ratio and related disclosure that results 

from such use would not provide the 

basis for Commission enforcement 

action unless the disclosure was made 

or reaffirmed without a reasonable basis 

or was provided other than in good 

faith. 

B. Use of Internal Records 

Item 402(u) requires a registrant to 

disclose the median of the annual total 

compensation of all its employees 

excluding its principal executive 

officer.14 We are providing guidance as 

to the use of existing internal records, 

such as tax or payroll records, to make 

this determination. 

1. Non-U.S. Employees 

The final rule defines the term 

‘‘employee’’ to include U.S. employees 

and employees located in a jurisdiction 

outside the United States (‘‘non-U.S. 


asabaliauskas on DSKBBXCHB2PROD with RULES