Not exact matches
Buffett's gift
included 18.63 million
Class B shares
of his company's
stock, which carried a value
of $ 170.25 each at the market's close on Monday.
These
include allowing users to create new asset
classes, such as
stocks or other ownership certificates, and create a variety
of automated «smart contracts.»
You should carefully consider the risks and uncertainties described below, together with all
of the other information in this prospectus,
including our consolidated financial statements and related notes, before deciding whether to purchase shares
of our
Class A common
stock.
Any purchase
of our
Class A common
stock in this offering through the underwriter administering program will be at the same initial public offering price, and at the same time, as any other purchases in this offering,
including purchases by institutions and other large investors.
Subject to the provisions
of our 2015 Plan, the administrator will determine the other terms
of stock appreciation rights,
including when such rights become exercisable and whether to pay any amount
of appreciation in cash, shares
of our
Class A common
stock, or a combination thereof, except that the per share exercise price for the shares to be issued pursuant to the exercise
of a
stock appreciation right must be no less than 100 %
of the fair market value per share on the date
of grant.
The basic idea is that while most economists believe corporate taxes are primarily paid by owners
of capital (that is, people who own
stock in corporations) in the form
of lower profits, a sizable minority,
including White House chief economist Kevin Hassett, think that a lower tax rate would spark so much additional investment in the United States that it would bid up wages and leave the middle
class better off through its indirect effects.
Following the expiration
of the lock - up agreements referred to above, stockholders owning an aggregate
of up to 248,396,604 shares
of our
Class B common
stock (
including shares issuable pursuant to the exercise
of warrants to purchase shares
of our capital
stock that were outstanding as
of September 30, 2015) can require us to register shares
of our capital
stock owned by them for public sale in the United States.
After the completion
of this offering, the holders
of up to 248,396,604 shares
of our
Class B common
stock (
including shares issuable pursuant to the exercise
of warrants to purchase shares
of our capital
stock that were outstanding as
of September 30, 2015) will be entitled to certain «piggyback» registration rights.
The
Class A shares are essentially the preexisting common
stock under a new name, retaining all
of its former attributes,
including the usual one vote per share.
This could spur some
stock investors to trim their exposure and rotate into other asset
classes,
including not just bonds but also precious metals, which I believe might help gold revisit resistance from its 2016 high
of $ 1,374 an ounce.
Kalanick holds approximately 10 %
of Uber's
stock,
including roughly 16 %
of its voting power and 35 %
of its
Class B common
stock.
on a pro forma basis, giving effect to (i) the automatic conversion
of all
of our outstanding shares
of convertible preferred
stock other than Series FP preferred
stock into shares
of Class B common
stock and the conversion
of Series FP preferred
stock into shares
of Class C common
stock in connection with our initial public offering, (ii)
stock - based compensation expense
of approximately $ 1.1 billion associated with outstanding RSUs subject to a performance condition for which the service - based vesting condition was satisfied as
of December 31, 2016 and which we will recognize on the effectiveness
of our registration statement in connection with a qualifying initial public offering, as further described in Note 1 to our consolidated financial statements
included elsewhere in this prospectus, (iii) the increase in accrued expenses and other current liabilities and an equivalent decrease in additional paid - in capital
of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per share, which is the fair value
of our common
stock as
of December 31, 2016, as we intend to issue shares
of Class A common
stock and
Class B common
stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance
of 7.6 million shares
of Class A common
stock and 5.5 million shares
of Class B common
stock that will vest and be issued from the settlement
of such RSUs, (v) the issuance
of the CEO award, as described below, and (vi) the filing and effectiveness
of our amended and restated certificate
of incorporation which will be in effect on the completion
of this offering.
in the case
of our directors, officers, and security holders, (i) the receipt by the locked - up party from us
of shares
of Class A common
stock or
Class B common
stock upon (A) the exercise or settlement
of stock options or RSUs granted under a
stock incentive plan or other equity award plan described in this prospectus or (B) the exercise
of warrants outstanding and which are described in this prospectus, or (ii) the transfer
of shares
of Class A common
stock,
Class B common
stock, or any securities convertible into
Class A common
stock or
Class B common
stock upon a vesting or settlement event
of our securities or upon the exercise
of options or warrants to purchase our securities on a «cashless» or «net exercise» basis to the extent permitted by the instruments representing such options or warrants (and any transfer to us necessary to generate such amount
of cash needed for the payment
of taxes,
including estimated taxes, due as a result
of such vesting or exercise whether by means
of a «net settlement» or otherwise) so long as such «cashless exercise» or «net exercise» is effected solely by the surrender
of outstanding
stock options or warrants (or the
Class A common
stock or
Class B common
stock issuable upon the exercise thereof) to us and our cancellation
of all or a portion thereof to pay the exercise price or withholding tax and remittance obligations, provided that in the case
of (i), the shares received upon such exercise or settlement are subject to the restrictions set forth above, and provided further that in the case
of (ii), any filings under Section 16 (a)
of the Exchange Act, or any other public filing or disclosure
of such transfer by or on behalf
of the locked - up party, shall clearly indicate in the footnotes thereto that such transfer
of shares or securities was solely to us pursuant to the circumstances described in this bullet point;
The table above does not
include (i) 5,952,917 shares
of Class A common
stock reserved for issuance under our 2015 Incentive Award Plan (as described in «Executive Compensation — New Employment Agreements and Incentive Plans»), consisting
of (x) 2,689,486 shares
of Class A common
stock issuable upon exercise
of options to purchase shares
of Class A common
stock granted on the date
of this prospectus to our directors and certain employees,
including the named executive officers, in connection with this offering as described in «Executive Compensation — Director Compensation» and «Executive Compensation — New Equity Awards,» and (y) 3,263,431 additional shares
of Class A common
stock reserved for future issuance and (ii) 24,269,792 shares
of Class A common
stock issuable to the Continuing SSE Equity Owners upon redemption or exchange
of their LLC Interests as described in «Certain Relationships and Related Party Transactions — SSE Holdings LLC Agreement.»
Nevertheless, sales
of substantial amounts
of our
Class A common
stock,
including shares issued upon exercise
of outstanding
stock options or warrants or settlement
of RSUs, in the public market following this offering could adversely affect market prices prevailing from time to time and could impair our ability to raise capital through the sale
of our equity securities.
The pro forma consolidated balance sheet data gives effect to (i) the automatic conversion
of all
of our outstanding shares
of convertible preferred
stock other than Series FP preferred
stock into shares
of Class B common
stock and the conversion
of Series FP preferred
stock into shares
of Class C common
stock in connection with our initial public offering, (ii)
stock - based compensation expense
of approximately $ 1.1 billion associated with outstanding RSUs subject to a performance condition for which the service - based vesting condition was satisfied as
of December 31, 2016 and which we will recognize on the effectiveness
of our registration statement in connection with this offering, as further described in Note 1 to our consolidated financial statements
included elsewhere in this prospectus, (iii) the increase in accrued expenses and other current liabilities and an equivalent decrease in additional paid - in capital
of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per share, which is the fair value
of our common
stock as
of December 31, 2016, as we intend to issue shares
of Class A common
stock and
Class B common
stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance
of 7.6 million shares
of Class A common
stock and 5.5 million shares
of Class B common
stock that will vest and be issued from the settlement
of such RSUs, (v) the issuance
of the CEO award, as described below, and (vi) the filing and effectiveness
of our amended and restated certificate
of incorporation which will be in effect on the completion
of this offering.
The number
of shares
of our
Class A common
stock outstanding after this offering as shown in the tables above is based on the number
of shares outstanding as
of September 24, 2014, after giving effect to the Transactions and the Assumed Redemption, and excludes 5,952,917 shares
of Class A common
stock reserved for issuance under our 2015 Incentive Award Plan (as described in «Executive Compensation — New Employment Agreements and Incentive Plans»), consisting
of (i) 2,689,486 shares
of Class A common
stock issuable upon the exercise
of options to purchase shares
of Class A common
stock granted on the date
of this prospectus to our directors and certain employees,
including the named executive officers, in connection with this offering as described in «Executive Compensation --
The market price
of our
Class A common
stock may fluctuate or decline significantly in response to numerous factors, many
of which are beyond our control,
including:
The adjustment assumes there will be no additional distribution in the event the gross proceeds from the offering exceed the anticipated gross proceeds (
including as a result
of the exercise by the underwriters
of their option to purchase additional shares
of Class A common
stock).
You should carefully consider the risks and uncertainties described below, together with all
of the other information in this prospectus,
including the section titled «Management's Discussion and Analysis
of Financial Condition and Results
of Operations» and our consolidated financial statements and related notes, before making a decision to invest in our
Class A common
stock.
The Company's board
of directors also approved an additional distribution to its members, to the extent the gross proceeds
of the Company's planned initial public offering exceed the anticipated gross proceeds (
including as a result
of the exercise by the underwriters
of their option to purchase additional shares
of Class A common
stock), in an amount equal to the product
of (A) the increased gross proceeds and (B) 0.273, to be paid from the proceeds
of the Company's planned initial public offering.
The number
of shares
of our
Class A common
stock outstanding after this offering as shown in the tables above is based on the number
of shares outstanding as
of September 24, 2014, after giving effect to the Transactions and the Assumed Redemption, and excludes shares
of Class A common
stock reserved for issuance under our 2015 Incentive Award Plan (as described in «Executive Compensation — New Employment Agreements and Incentive Plans»), consisting
of (i) shares
of Class A common
stock issuable upon the exercise
of options to purchase shares
of Class A common
stock granted on the date
of this prospectus to our directors and certain employees,
including the named executive officers, in connection with this offering as described
If our existing stockholders,
including employees and service providers who obtain equity, sell, or indicate an intention to sell, substantial amounts
of our
Class A common
stock in the public market after the lock - up and legal restrictions on resale discussed in this prospectus lapse, the trading price
of our
Class A common
stock could decline.
You should read the following summary together with the more detailed information appearing in this prospectus,
including «Risk Factors,» «Selected Consolidated Financial Data,» «Management's Discussion and Analysis
of Financial Condition and Results
of Operations,» «Business» and our consolidated financial statements and related notes before deciding whether to purchase shares
of our
Class A common
stock.
Before the end
of April, when the market started its gut - wrenching descent, «the combination
of return generation and risk diversification was part
of a broader virtuous circle for fixed income, which also
included significant inflows to the asset
class and direct support from central banks,» El - Erian writes at the start
of his viewpoint, noting that in addition to delivering solid returns with lower volatility relative to
stocks, the inclusion
of fixed income in diversified asset allocations also helped to reduce overall portfolio risk.
However, these provisions may have the effect
of delaying, deterring or preventing a merger or acquisition
of our company by means
of a tender offer, a proxy contest or other takeover attempt that a stockholder might consider in its best interest,
including attempts that might result in a premium over the prevailing market price for the shares
of Class A common
stock held by stockholders.
Under the first
of those agreements, we generally will be required to pay to the Continuing LLC Owners approximately 85 %
of the applicable savings, if any, in income tax that we are deemed to realize (using the actual applicable U.S. federal income tax rate and an assumed combined state and local income tax rate) as a result
of (1) certain tax attributes that are created as a result
of the exchanges
of their LLC Units for shares
of our
Class A common
stock, (2) any existing tax attributes associated with their LLC Units the benefit
of which is allocable to us as a result
of the exchanges
of their LLC Units for shares
of our
Class A common
stock (
including the portion
of Desert Newco's existing tax basis in its assets that is allocable to the LLC Units that are exchanged), (3) tax benefits related to imputed interest and (4) payments under such TRA.
The diluted net income (loss) per share calculations
include shares
of Class A,
Class A-1, and
Class B common
stock, as well as warrants to purchase shares
of Class A and
Class C common
stock where the warrant exercise price is below the fair value
of the underlying common
stock and therefore would have a dilutive effect.
The
class of stock grants special rights and privileges that usually provide greater protection and avenues
of greater influence on company decision - making, these can
include anti-dilution rights, pro-rata rights, and a liquidation preference.
LLCs also have much greater flexibility in how they are organized and managed; they can issue a variety
of classes of stock (S - corps can have only one
class), have more than 100 shareholders, and shareholders can
include nonresident aliens, a category not permitted to an S - corporation.
The Balanced Asset
Class Index which
included large caps, small caps, value
stocks and bonds fared much better than the all -
stock options and outperformed the other options over the full cycle 4 out
of 5 times.
In pursuit
of its goals, the firm invests in various asset
classes including domestic and foreign
stocks, bonds, currencies and derivatives
including indices and options.
Their simulation approach preserves most
of the asset
class time series characteristics,
including stocks - bonds correlations.
The list
of alternative investment
classes includes real estate, private equity, developing - country
stocks and bonds, hedge funds and commodities.
After studying this chapter, you will be able to: Explain the basic nature
of a joint
stock company as a form
of business organisation and the various kinds
of companies based on liability
of their members Describe the types
of shares issued by a company Explain the accounting treatment
of shares issued at par, at premium and at discount
including oversubsription Outline the accounting for forfeiture
of shares and reissue
of forfeited shares under varying situations Workout the amounts to be transferred to capital reserve when forfeited shares are reissued; and prepare share forfeited account State the meaning
of debenture and explain the difference between debentures and shares Describe various types
of debentures; Record the journal entries for the issue
of debentures at par, at a discount and at premium Explain the concept
of debentures issued for consideration other than cash and the accounting thereof Explain the concept
of issue
of debentures as a collateral security and the accounting thereof Show the items relating to issue
of debentures in company's balance sheet Describe the methods
of writing - off discount / loss on issue
of debentures Explain the methods
of redemption
of debentures and the accounting thereof Explain the concept
of sinking fund, its use for redemption
of debentures and the accounting thereof Topic List Features
of a Company Kinds
of Companies Share Capital
of a Company Nature and
Classes of Shares Issue
of Shares Accounting Treatment Forfeiture
of Shares Meaning
of Debentures Types
of Debentures Issue
of Debentures Over Subscription Terms
of Issue
of Debentures Interest on Debentures Writing - off Discount / Loss on Issue
of Debentures Redemption
of Debentures Redemption by Payment in Lump Sum Sinking Fund Method
For a limited time whilst
stocks last, CJ Wildlife are offering schools the change to order free Activity Packs for their
class,
including an activity sheet for either KS1 or KS2 students, and a sheet
of stickers.
We also have the rest
of the Mercedes - Benz lineup in
stock,
including the Top Safety Pick + winning M -
Class SUV.
Vanguard is unique in that it offers ETF (Exchange Traded Fund) shares as a share
class of some
of its mutual funds,
including Total
Stock Market Index; the ticker symbol for the ETF shares is VTI.
More importantly, this is providing an example
of how bonds often are not correlated with
stocks (they don't move up and down together), thus giving us the diversification benefits
of including the fixed - income asset
class in our portfolios, while providing a higher yield and higher expected return than cash.
They provide exposure to the performance
of a pool
of stocks, bonds or other asset
classes included in the index, as well as different regions and sectors.
In this project we used deep neural networks (a term we will use to refer to the
class of neural networks that
includes multi-layer perceptrons and recurrent neural networks) to predict how a
stock will perform relative to the market over a one - year time horizon.
Similar to mutual funds, ETFs allow access to a number
of types
of stocks and bonds (or asset
classes), provide an efficient means to construct a fully diversified portfolio,
include index - and more active - management strategies and are comprised
of individual
stocks or bonds.
The portfolios are based on a mix
of 6 — 8 asset
classes that
includes both U.S. and international
stocks and bonds.
The investor decided to
include REITs in her asset allocation, so for the US
stock allocation (60 %
of stocks), we set a target allocation
of 12.5 % (
of the US
stock allocation) for each
of the four new US
stock asset
classes.
The CIBC suggested that with the recent volatility on the
stock market and the lower loonie, 22 per cent
of investors are looking at «alternative asset»
classes that
include real estate or infrastructure.
The range
of asset
classes covered
included CFDs, spot forex,
stocks and spread betting.
The index is based on investors» views and confidence on a range
of asset
classes including stocks, fixed income, your own home, other investment property, cash, and balanced mutual funds.
Dimensional's Target Date Retirement Income Funds are designed to be diversified across a mix
of asset
classes that
include stocks and bonds.
A broad ensemble
of global income investments, the Fund seeks value opportunities across both traditional investment - grade and high - yield bond sectors and nontraditional asset
classes,
including convertibles, preferred
stocks, non-U.S. sovereign and corporate debt and floating - rate loans.
Some
of the shares
included in this asset
class include shares traded on the European
stock exchanges, India Stock exchange, and the South African stock exch
stock exchanges, India
Stock exchange, and the South African stock exch
Stock exchange, and the South African
stock exch
stock exchange.