SEC Proposes to Modernize Ability of Companies to Grant Equity Compensation

On 24 November 2020, the Securities and Exchange Commission (SEC) proposed rules that would significantly modernize and simplify the ability of companies to grant equity compensation to their workers under Rule 701 of the Securities Act of 1933 (Rule 701) and on the Form S-8 Registration Statement (Form S-8). The SEC noted that the proposed rules were appropriate “in light of the significant evolution in compensatory offerings” since the SEC last substantively amended the existing rules. This client alert summarizes the key aspects of these proposed rules. READ MORE

How to Negotiate and Counter a Job Offer

Being offered a job is a reason to celebrate, but it is also an opportunity to negotiate the best terms you can get, which may not come up again for a while. You should maintain a professional, friendly tone during these talks as you forge a relationship with your new employer. “Once you receive a job offer, you stop being a candidate and you start being an employee of the company to some extent,” says career coach Paolo Gallo. “The way you negotiate starts building your reputation.” READ MORE

Art of Accounting: Partner compensation

As this unusual year comes to an end, many firms will be divvying up profits and assigning new partner salary or draw amounts for 2021. Where there are compensation agreements, this is primarily handled contractually, but there is usually some wiggle room for discretionary or merit adjustments. In larger firms this is usually done by a committee and in less larger firms by the partners together or by the majority owner for smaller firms. READ MORE

Kodak's stock soars 80% after probe reportedly finds no wrongdoing in government loan

Kodak's stock rocketed about 80% higher in early trading Monday after the US government reportedly found no wrongdoing in Kodak's now-halted $765 million loan to help the company produce pharmaceutical ingredients.

US government regulators reportedly have been investigating why Kodak announced the loan on July 27, the day prior to the official announcement -- the same day some executives, including Jim Continenza, Kodak's executive chairman and CEO, received stock options. READ MORE

TikTok's new generation of millionaires: 'I did it 100% on my own'

Friday’s bleak jobs report revealed that millions of Americans are still out of work, but some of the country’s richest people continue to accrue wealth amid the COVID-19 pandemic.

And one controversial social media platform — TikTok — has created a brand-new class of young millionaires who are becoming the breadwinners for their households. With one in three Americans on TikTok, according to the Chinese-owned app, it has become a clear winner for eyeballs and ad dollars even as lawmakers continue to criticize its security practices. READ MORE

Yahoo Finance Investor Paul Tudor Jones rejects 'false god' of low pay, calls on companies to pay living wages

The fight to close the growing wealth gap is “true social change” that has to begin in the private sector by raising worker wages, according to billionaire hedge fund manager Paul Tudor Jones.

According to Jones, with the private economy total economic output at $20 trillion — compared to the federal government's $4.5 trillion in spending and private philanthropy's $400 billion — it makes the private sector the best place to tackle inequality. READ MORE

Biden set to push minimum wage hikes

President-elect Joe Biden’s administration is likely to push for raising the minimum wage at the federal and local levels next year through any means available.

Biden’s economic team includes several labor economists who are expected to push for increasing worker earnings through executive actions, federal legislation in Congress, and use of their bully pulpit to encourage state and local governments to raise their own minimum wages. READ MORE

SEC Proposes to Ease Restrictions on Compensatory Offerings to Employees, “Platform Workers” and Other Service Providers

the Securities and Exchange Commission (the “SEC”) proposed amendments that would ease restrictions on compensatory securities offerings to employees and other service providers under Rule 701 and Form S-8, both implemented under the Securities Act of 1933, as amended (the “Securities Act”). At the same time, the SEC also proposed a temporary five-year expansion of Rule 701 and Form S-8 eligibility for certain compensatory offerings to “platform” or “gig economy” workers. READ MORE