SEC Proposes Temporary Rule to Permit Companies to Offer Noncash Compensation to Certain “Gig Workers”

The SEC has issued a temporary proposed rule, Temporary Rules to Include Certain “Platform Workers” in Compensatory Offerings Under Rule 701 and Form S-8, which would “amend Rule 701 by adding a temporary rule provision that, for five years, would enable issuers to use Rule 701 to compensate certain platform workers, subject to specified conditions.”

For more information, see the press release and joint statements by SEC Commissioners Allison H. Lee and Caroline A. Crenshaw, Hester M. Peirce and Elad L. Roisman on the SEC’s Web site.