The ride-hailing giant has met with the Securities and Exchange Commission (SEC) multiple times to discuss the issue of giving equity to drivers, reports Dan Primack at Axios. The conflict, of course, is that Uber’s drivers are contractors, not employees, and the SEC doesn’t currently allow for such an arrangement.
Competitor Juno used to offer drivers equity when it first launched, but killed its restricted stock unit program after being acquired by Gett. If Uber offers stock to drivers, it could greatly help rebuild its relationship with drivers. Juno’s stock program and better commissions helped the company accrue 20,000 drivers over roughly a year of service. RR