(a) Share repurchases An employer receiving a grant under the Program may not purchase an equity interest of the employer on a national securities exchange. (b) Payments to shareholders or bondholders An employer receiving a grant under the Program may not use grant funds awarded under the Program to make any distribution of funds, including stock dividends, to shareholders or bondholders of the employer. (c) Executive bonuses An employer receiving a grant under the Program may not award an executive bonus to an employee of the employer during the period beginning on the date on which the employer receives an initial grant under the Program and ending on the date on which the Secretary terminates the Program. (d) Executive compensation If an employer receiving a grant under the Program employs a chief executive officer, during the period beginning on the date on which the employer receives an initial grant under the Program and ending on the date on which the Secretary terminates the Program, the employer may not provide to the chief executive officer— (1) annual wages in excess of the amount that is— (A) for an employer that is not a new employer, 50 times the median of the wages provided by the employer to employees of the employer in 2019