any payment unless the amount of the payment made to each employee of the employer in the United States is of an equal amount. Notwithstanding the preceding sentence, in the case of an employee employed at less than full time, the payment to such employee may be in a pro rata amount based on the hours worked by the employee per week. (4) Timing of payment Such term shall not include any payment which is not made within 60 days of the close of the taxable year to which it relates. (5) Option to increase compensation A covered employer may, by providing such documentation as the Secretary may require, elect to have the worker dividend paid to employees in the form of an increase in regular compensation. In the case of a covered employer making such election— (A) paragraph (4) shall not apply, and (B) the term worker dividend includes only increases in compensation which are so documented and which are paid within 1 calendar year of the date the increase goes into effect. (c) Covered employer For purposes of this section, the term covered employer means, for any taxable year, any entity the stock of which is publicly traded. (d) Aggregation rule All persons treated as a single employer under subsection (a) or (b) of section 52 shall be treated as a single employer for purposes of determining whether an individual is an employee of a covered employer. (e) Regulations The Secretary, in consultation with the Secretary of Labor, shall promulgate regulations or other guidance to ensure compliance with this section, including the determination of full time status and rules to prevent avoidance of the purposes of subsection (b)(2). (f) Reporting With respect to any taxable year in which a covered employer repurchases any securities of the employer on the open market, not later than the due date for the return of tax for such taxable year such employer shall report to the Secretary and the Chairman of the Securities and Exchange Commission, in such manner as the Secretary shall determine, the amount of any worker dividend