SEC Proposes Easing Stock Sales Rules For 'Gig' Workers

Law360 (November 24, 2020, 5:47 PM EST) -- A divided U.S. Securities and Exchange Commission proposed rules on Tuesday easing how private companies can compensate workers through stock, including short-term "gig" workers who are not traditional employees and depend on equity absent a steady paycheck.

The SEC proposed two sets of rules, including a temporary package of rules that for five years would allow companies to grant stock-based compensation to so-called "platform workers," within limits. The SEC defines such workers as those who hold jobs reliant on internet or app-based platforms, including ride-sharing, food delivery, household repairs and the like.

The odds that these proposals get enacted is unclear,...

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