TITLE

The Congressional Band-Aid Approach

AUTHOR(S)
Hardock, Randy; O'Neill, John
PUB. DATE
November 2000
SOURCE
Financial Executive;Nov/Dec2000, Vol. 16 Issue 6, p63
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses the Fair Labor Standards Act (FLSA) and how it impacts stock option plans and stock-based compensation in the United States. The term "regular rate of pay" in the federal labor law--which was enacted before stock options became part of compensation and incentive structures--is defined loosely as all remuneration for employment with a few exceptions. A ruling from the U.S. Department of Labor (DOL) stated that the regular rate of pay should include income from exercised stock options when employers are calculating overtime pay. However, the U.S. Congress is providing a fix for the FLSA mandate and DOL advisory opinion by exempting employers from liability that might result from noncompliance with this FLSA requirement.
ACCESSION #
11899323

 

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