Apple Beats Worker Bid to Count Some Stock in Overtime Rates (1)

Apple Inc. defeated workers’ quest to make the company include the value of restricted stock units when calculating their overtime pay, in a California federal case addressing a novel question.

The Fair Labor Standards Act’s “gift” and “equity” exceptions mean the technology giant didn’t run afoul of the federal wage law when it left the stock value out of its regular rate of pay calculations, the US District Court for the Northern District of California said, granting Apple’s motion for summary judgment Thursday.

Judge William H. Orrick’s opinion is the first to examine whether the FLSA requires employers to ...