1. Equity payments to employees while receiving Federal aid (a) In general Any major corporation that receives Federal aid related to COVID–19 shall, until the date on which all such Federal aid is repaid to the Federal Government, make an annual grant of equity to the employees of the corporation as provided under this section. (b) Payment amount (1) Total amount (A) In general The aggregate number of shares of stock granted by a corporation under this section with respect to a year shall, as a percentage of the corporation’s total shares outstanding, be equal to or greater than the prior annual stock grant percentage. (B) Prior annual stock grant percentage In this paragraph, the term prior annual stock grant percentage means the average, over the 3 years preceding January 1, 2020, of the annual total number of shares of stock in any equity plans of the corporation and shares underlying any stock option plans of the corporation, taken together, as a percent to the corporation’s total shares outstanding. (2) Individual amounts The equity grant for each individual employee shall be at least in proportion to a formula taking into account that employee’s salary adjusted for tenure with each year of tenure counting equally, and with a wage limit of $137,700. (c) Other requirements and authorities (1) Form of grant A grant of equity under this section shall be a grant of whole shares of stock through a restricted stock plan, a leveraged or non-leveraged Employee Stock Ownership Plan, or a stock bonus plan. (2) Prohibition on conditions A grant of equity to an employee under this section may not be conditioned on the purchase of company stock or any employee performance evaluations of any kind. (3) Voting and dividend rights Equity granted under this section shall be equal, in terms of voting rights and dividend rights, to the class of securities of the corporation other than those issued under this section that carry the highest voting rights and dividend rights. (4) Right to use Federal aid In the case of a