Uber settles NY AG probe on driver misclassification; agrees to $26/hr minimum pay outside NYC

Uber Technologies, Inc

Minimum earnings floor of $26/hour for working time for drivers outside New York City.
Up to 56 hours of paid sick leave per year for NY drivers; NYC rate $17/hr, rest state $26/hr.
In-app driver support in English, Spanish, French, Russian, Bengali, and Chinese.
NY drivers can appeal all deactivation decisions; company will provide paid driver training.
Company had already recorded liability; resolution expected to impact Q4 2023 operating cash flow with no income statement impact.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Uber Technologies, Inc: Amended and Restated Bylaws to address universal proxy rules, emergency bylaws, and stockholder nomination thresholds (effective 2023-10-30).

Change: bylaw amendment
Effective: 2023-10-30

Exact text from the filing

On October 30, 2023, as part of its periodic review of the governing documents of Uber Technologies, Inc. (the “Company”), the Board of Directors of the Company approved amendments to the Company’s Amended and Restated Bylaws (the “Amended and Restated Bylaws”), effective immediately. The amendments, among other things: (i) address matters relating to the universal proxy rules set forth in Rule 14a-19 under the Securities Exchange Act of 1934, as amended, including the procedural mechanics and disclosure requirements for stockholder nominations of directors, as well as submissions of stockholder proposals made in connection with annual and special meetings of stockholders; (ii) allow the Board to conduct business pursuant to emergency bylaws in the event of an emergency, as permitted under Section 110 of the Delaware General Corporation Law; and (iii) provide that a stockholder (or a group of up to 20 stockholders) continuously holding at least 3% of the Company’s voting securities for

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Source: SEC EDGAR

accession 0001552781-23-000420

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