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Jeff Chiu / AP

Uber has held multiple meetings with the SEC about how it can provide equity to its drivers, who are contractors rather than employees, Axios has learned from a source familiar with the situation.

  • Why it matters: If Uber and the SEC come to an agreement, it could provide a legal template for other gig economy companies. It also could help Uber better recruit and retain drivers.
  • Book excerpt: "Kalanick lights up. He says he wants to give equity to drivers... but Uber has found the securities-law implications to be complicated." – from Wild Ride by Adam Lashinsky, in reference to former Uber CEO Travis Kalanick.
  • Context: New York-based ride-hail company Juno had promised drivers restricted stock units (so long as they met certain requirements), but the SEC objected to the structure. So much so, in fact, that Juno told drivers via email that it was "considering, among other things, whether the RSUs previously granted were void under the terms of the RSU program." That same email also announced that Juno was being acquired by Israel-based Gett, which effectively voided the RSUs anyway (with Juno drivers basically getting bupkus).

Go deeper

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Health care in the New Washington

Illustration: Sarah Grillo/Axios

As America emerges from the pandemic, here's a special Axios AM Deep Dive on the Biden administration's health care agenda.

1 hour ago - World

Palestinian Authority announces new COVID restrictions as cases surge

A nurse administers the COVID-19 vaccine to a Palestinian in the occupied West Bank city of Hebron. Photo: Hazem Bader/AFP via Getty Images

The Palestinian Authority on Saturday announced fresh coronavirus restrictions, including a partial lockdown, for the occupied West Bank as COVID-19 cases surge.

The big picture: The new measures come as Israel, which leads the world in vaccinations, faces increased pressure to ensure Palestinians in the occupied West Bank and Gaza Strip have equal access to vaccines.

2 hours ago - World

Myanmar military fires UN ambassador after anti-coup speech

Photo: Peerapon Boonyakiat/SOPA Images/LightRocket via Getty Images

Myanmar's military regime on Saturday fired the country's Ambassador to the United Nations, Kyaw Moe Tun, a day after he gave a pro-democracy speech asking UN member nations to publicly condemn the Feb. 1 coup, The New York Times reports.

Details: State television said the ambassador had "betrayed the country and spoken for an unofficial organization which doesn’t represent the country and had abused the power and responsibilities of an ambassador."

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