Washington, May 4 -- Congressman Ryan Mackenzie issued the following press release:
Today, Congressman Ryan Mackenzie (PA-07), representing the Lehigh Valley and the Poconos, introduced the Valuing Employee Stock Today Act, which modernizes federal labor law and expands access to equity compensation for workers.
The bill updates the Fair Labor Standards Act to clarify that restricted stock units (RSUs)-a common form of employee compensation-are not counted toward an employee's regular rate of pay when calculating overtime.
"Workers should have the opportunity to benefit from the success of the companies they work for," said Congressman Mackenzie. "This bill makes a straightforward update to federal law so employers can offer equity comp...