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Investors push Uber for driver pay transparency
A group of Uber investors, led by the Washington, DC-based SOC Investment Group, is urging the company to disclose detailed driver compensation data, proposing a resolution for the 2025 shareholder meeting.
SOC, which advises union pension funds with less than 1% of Uber shares, criticizes the current “gross bookings” reporting method for combining payments to drivers, restaurants, and insurers. The group argues that it obscures profitability and driver income sustainability.
SOC previously proposed a driver health and safety audit in May, which shareholders rejected, despite meetings with Uber’s investor relations team.
SOC emphasizes that clearer pay transparency is crucial for evaluating Uber’s financial and labor practices. It claims Uber dismissed the need for changes and requested the withdrawal of their motion.
Uber may block the resolution via a “no-action” SEC filing, which would prevent a shareholder vote, with the SEC set to make the final decision.
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