SEC proposes a five-year pilot program to let gig companies like Uber and Lyft issue equity to workers; equity can't be more than 15% of a worker's earning/year
Joint Statement on the Proposal to Facilitate Non-Cash Compensation for Certain Gig Workers Paul Kiernan / Wall Street Journal : Gig Workers Could Be Paid Partially in Stock Under SEC Proposal Michelle Price / Reuters : U.S. tech firms can compensate gig-workers with equity under SEC proposal PYMNTS.com : SEC Plan Would Let Gig Workers Get Up To 15 Pct In Compensation Via Stock Tweets: Scott Kupor / @skupor : This is excellent news from @SEC_News - new proposed rules to amend Rule 701 to permit gig workers to receive stock options in the companies for which they work. https://www.sec.gov/... Alex Weprin / @alexweprin : Interesting move by the SEC: It's establishing ground rules for platforms (I.e. Uber, Instacart, DoorDash) to offer its drivers/shoppers etc. stock options. https://www.sec.gov/... @mayazi : Big!! Stakeholder capitalism no tokens involved. https://twitter.com/... Drew Hinkes / @propelforward : #SEC proposed temp rule allow “gig” workers on “platforms” like @Uber @lyft etc. to receive shares (subject to % limits (no more than 15% of annual compensation), & dollar limits (no more than $75,000 in three years)). HUGE https://sec.gov/... https://twitter.com/... Collins Belton / @collins_belton : This could be a sea change. One significant challenge for getting shares to gig workers are often securities law limits on who can be issued shares from an option plan based on the worker's status. This would remove uncertainty and allow grants to gig workers under option plans. https://twitter.com/...