; and (B) in subparagraph (B)— (i) in the heading, by striking termination of emerging growth company treatment and inserting exemption ; (ii) by striking an emerging growth company but is no longer an emerging growth company and inserting exempt under subparagraph (A) but is no longer exempt ; and (iii) in clause (ii), by inserting before the period the following: or a recent emerging growth company . (2) Pay ratio disclosures Section 953(b)(1) of the Investor Protection and Securities Reform Act of 2010 ( 15 U.S.C. 78l note) is amended, by striking , as that term is defined in and inserting or a recent emerging growth company, as such terms are defined, respectively, under . (3) Pay vs. performance disclosures Section 14(i) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78n(i) ) is amended by inserting after emerging growth company the following: or a recent emerging growth company . (4) Simplified executive compensation disclosures The Securities and Exchange Commission shall amend section 229.402(l) of title 17, Code of Federal Regulations, to permit a recent emerging growth company (as defined under section 2 of the Securities Act of 1933) to make use of the same scaled disclosures for executive compensation that are available pursuant to such section for smaller reporting companies and emerging growth companies.