This would mean that an increase in the Class A stock would require a vote of the holders of Class A stock and an increase in Common stock would require a vote
of the holders of Common stock.
The company (and founders) will want to minimize the number
of holders of common stock that need to be subject to the ROFR / Co-sale.
Not exact matches
Preferred
stock is better than
common stock, because
holders of preferred
stock receive preferential treatment in the event
of a liquidation
of the business.
That's because one
of the advantages
of owning preferred
stock is that preferred
stock holders get their money back before «
common»
stock -
holders in the case
of a fire sale.
Upon liquidation,
holders of such debt securities and preferred shares, if issued, and lenders with respect to other borrowings would receive a distribution
of our available assets prior to the
holders of our
common stock.
-LSB-(Version 2, which is not quite as aggressive): If any
holder of Series A Preferred
Stock fails to participate in the next Qualified Financing, (as defined below), on a pro rata basis (according to its total equity ownership immediately before such financing)
of their Series A Preferred investment, then such
holder will have the Series A Preferred
Stock it owns converted into
Common Stock of the Company.
If such
holder participates in the next Qualified Financing but not to the full extent
of its pro rata share, then only a percentage
of its Series A Preferred
Stock will be converted into
Common Stock (under the same terms as in the preceding sentence), with such percentage being equal to the percent
of its pro rata contribution that it failed to contribute.]
Preferred shares, if issued, could have a preference with respect to liquidating distributions or a preference with respect to dividend payments that could limit our ability to pay dividends to the
holders of our
common stock.
If you are a
holder of Alphabet Class A or Class B
common stock as
of the Record Date, you are requested to vote on the items
of business described in this proxy statement.
Thus,
holders of our
common stock bear the risk that our future offerings may reduce the market price
of our
common stock and dilute their stockholdings in us.
This discussion is limited to non-U.S.
holders who purchase our Class A
common stock issued pursuant to this offering and who hold our Class A
common stock as a «capital asset» within the meaning
of Section 1221
of the Code (generally, property held for investment).
Such conversions
of Class B
common stock to Class A
common stock upon transfer will have the effect, over time,
of increasing the relative voting power
of those
holders of Class B
common stock who retain their shares in the long term.
The following table presents the beneficial ownership
of our
common stock as
of February 22, 2010 by one
holder of more than 5 %
of our
common stock, each
of our directors and listed officers, and all
of our directors and executive officers as a group.
Transfers by
holders of Class B
common stock will generally result in those shares converting to Class A
common stock, subject to limited exceptions, such as certain transfers effected for estate planning purposes.
Because
of the ten - to - one voting ratio between our Class B and Class A
common stock, the
holders of our Class B
common stock collectively will hold more than a majority
of the combined voting power
of our
common stock upon the completion
of our initial public offering, and therefore such
holders will be able to control all matters submitted to our stockholders for approval.
III (NYSE American: HCAC.U)(the «Company») announced today that
holders of the Company's units may elect to separately trade the
common stock and warrants underlying the units commencing August 1, 2017.
Each share
of our Class B
common stock is convertible at any time at the option
of the
holder into one share
of our Class A
common stock.
In addition, each share
of our Class B
common stock will convert automatically into one share
of our Class A
common stock upon any transfer, whether or not for value, except for transfers to existing
holders of Class B
common stock and certain other transfers described in our amended and restated certificate
of incorporation, or upon the affirmative vote
of a majority
of the voting power
of the outstanding shares
of our Class B
common stock, voting separately as a class.
This discussion also does not consider any specific facts or circumstances that may be relevant to
holders subject to special rules under the U.S. federal income tax laws, including, without limitation, certain former citizens or long - term residents
of the United States, partnerships or other pass - through entities, real estate investment trusts, regulated investment companies, «controlled foreign corporations,» «passive foreign investment companies,» corporations that accumulate earnings to avoid U.S. federal income tax, banks, financial institutions, investment funds, insurance companies, brokers, dealers or traders in securities, commodities or currencies, tax - exempt organizations, tax - qualified retirement plans, persons subject to the alternative minimum tax, persons that own, or have owned, actually or constructively, more than 5 %
of our
common stock and persons holding our
common stock as part
of a hedging or conversion transaction or straddle, or a constructive sale, or other risk reduction strategy.
The proxy
holders (that is, the persons named as proxies on the proxy card) will vote your shares
of Common Stock in accordance with your instructions at the Annual Meeting (including any adjournments or postponements thereof).
Future transfers by
holders of our Class B
common stock will generally result in those shares converting into shares
of our Class A
common stock, subject to limited exceptions.
If we raise additional funds through further issuances
of equity, convertible debt securities, or other securities convertible into equity, our existing stockholders could suffer significant dilution in their percentage ownership
of our company, and any new equity securities we issue could have rights, preferences, and privileges senior to those
of holders of our Class A
common stock.
These
holders of our Class B
common stock may have interests that differ from yours and may vote in a way with which you disagree and which may be adverse to your interests.
A mutual fund custodian usually maintains and holds all records, sales redemptions and trades
of the share
holders... A mutual fund custodian may but not always, act as the mutual fund transaction agent... Since a mutual fund is basically a pool
of several funds and not one
common stock, it's essential that a 3rd party is involved to maintain, and oversee the funds operations...
After the completion
of this offering, the
holders of up to 248,396,604 shares
of our
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 rights with respect to the registration
of such shares under the Securities Act.
We do not anticipate declaring any cash dividends to
holders of our
common stock in the foreseeable future.
This discussion assumes that a non-U.S.
holder holds shares
of our Class A
common stock as a capital asset within the meaning
of Section 1221
of the Code (generally, property held for investment).
The Company's issuance
of shares
of common stock, including the additional shares that will be authorized if the proposal is adopted, may dilute the equity ownership position
of current
holders of common stock and may be made without stockholder approval, unless otherwise required by applicable laws or NYSE regulations.
On April 23, 2018, TD Ameritrade declared a $ 0.21 per share quarterly cash dividend, payable on May 22, 2018 to all
holders of record
of common stock as
of May 8, 2018
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.
What makes these bonds «convertible» is that the
holder of the bond has the right to convert it into shares
of the company's
common stock.
Holders of certificates representing pre-split shares
of the Fund's
common stock will receive, upon surrender
of their certificates representing such pre-split shares, uncertificated post-split shares
of the Fund's
common stock (i.e., a stockholder's holdings
of post-split shares will be reflected only in the Fund's record books).
BETHESDA, Md., Oct. 25, 2011 / PRNewswire / — Marriott International, Inc. (NYSE: MAR) announced today that its Board
of Directors approved the spin - off
of its wholly owned subsidiary, Marriott Vacations Worldwide Corporation, through the distribution
of shares to
holders of Marriott International
common stock.
On July 23, 2014, we entered into an Amended and Restated Investors» Rights Agreement, or IRA, with certain
holders of our
common stock and the
holders of our outstanding convertible preferred
stock, including Yahoo!, Teradata, entities affiliated with Benchmark and Index Ventures and Hewlett - Packard Company, which each hold more than five percent
of our outstanding capital
stock.
The affirmative vote
of the majority
of the votes cast by
holders of our
common stock present in person or represented by proxy at the Annual Meeting will be required to approve the amendment
of the 2004 Plan, provided that the total votes cast on the proposal represent over 50 %
of the outstanding
stock entitled to vote on the proposal.
As
of September 30, 2014, the
holders of 52,132,350 shares
of our
common stock, including our
common stock issuable in connection with the automatic conversion
of all outstanding shares
of our convertible preferred
stock into shares
of our
common stock and the
holder of a warrant to purchase 6,500,000 shares
of our
common stock, are entitled to rights with respect to the registration
of their shares following this offering under the Securities Act.
Conversion Rights — All convertible preferred
stock will be automatically converted into
common stock upon (i) the closing
of an underwritten public offering
of shares
of common stock of the Company at a public offering price per share that provides at least $ 100 million in aggregate gross proceeds or (ii) approval
of at least (a)
holders of 66 %
of the Series A convertible preferred
stock, voting as a single class on an as - converted basis; (b)
holders of a majority
of the Series B convertible preferred
stock, voting as a single class on an as - converted basis; (c)
holders of a majority
of the Series D convertible preferred
stock, voting as a single class on an as - converted basis; and (d) the
holders of at least a majority
of the then outstanding shares
of convertible preferred
stock (voting together as a single class and not a separate series, and on an as - converted basis).
in the case
of our directors, officers, and security
holders, the conversion or reclassification
of our outstanding convertible preferred
stock or other classes
of common stock into shares
of Class B
common stock in connection with this offering and the conversion
of Class B
common stock to Class A
common stock in accordance with our restated certificate
of incorporation, provided that any such shares
of Class A
common stock or Class B
common stock received upon such conversion or reclassification shall remain subject to the restrictions set forth above;
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;
After payment
of the full liquidation preference
of the Series A, Series A-1, Series B, and Series C, the entire remaining amounts legally available for distribution will be distributed to the
holders of our
common stock pro rata based on the number
of shares held by each
holder.
In preference to the
holders of our
common stock, each share
of preferred
stock is entitled to receive, on a pari passu basis, cash dividends at the rate
of 6 %
of the original issue price per annum on each outstanding share
of preferred
stock.
For example, if we were to make a distribution
of cash to the
holders of Class C
common stock but not make a cash distribution or make a distribution
of stock instead
of cash to the
holders of Class A
common stock and Class B
common stock, the
holders of a majority
of Class A
common stock and Class B
common stock, voting together as a single class, would be required to approve that dividend or distribution.
Each share
of convertible preferred
stock may be converted, at the option
of the
holder, at any time into
common stock as is determined by dividing the applicable original issue price by the conversion price as adjusted for certain dilutive issuances, splits and combinations.
Stock options granted under our stock option plan provide certain employee option holders the right to elect to exercise unvested options in exchange for shares of restricted common s
Stock options granted under our
stock option plan provide certain employee option holders the right to elect to exercise unvested options in exchange for shares of restricted common s
stock option plan provide certain employee option
holders the right to elect to exercise unvested options in exchange for shares
of restricted
common stockstock.
We, our officers and directors, and
holders of substantially all
of the outstanding shares
of our
common stock including the selling stockholders, have agreed with the underwriters, subject to certain exceptions, not to offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose
of any shares
of common stock, options or warrants to purchase shares
of common stock or securities convertible into, exchangeable for or that represent the right to receive shares
of common stock, whether now owned or hereafter acquired, during the period from the date
of this prospectus continuing through the date 180 days after the date
of this prospectus, except with the prior written consent
of each
of Goldman, Sachs & Co., Morgan Stanley & Co..
In any transfer
of shares
of Series FP from the original
holder, the shares
of Series FP will automatically convert to shares
of Class B
common stock at the then - effective conversion rate.
In addition, the discussion and tables above exclude shares
of Class B
common stock, because
holders of the Class B
common stock are not entitled to distributions or dividends, whether cash or
stock, from Shake Shack.
upon the exercise
of an Option or
Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Con
Stock Appreciation Right or upon the payout
of a Restricted
Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Con
Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely
common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Co
common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Con
stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by
holders of Common Stock in the Change in Co
Common Stock in the Change in Con
Stock in the Change in Control.
Stock appreciation rights provide for a payment, or payments, in cash or shares of our Class A common stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
Stock appreciation rights provide for a payment, or payments, in cash or shares
of our Class A
common stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock, to the
holder based upon the difference between the fair market value
of our Class A
common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock on the date
of exercise and the stated exercise price at grant up to a maximum amount
of cash or number
of shares.
distribution, the
holders of a majority
of Class A
common stock could defeat that dividend or distribution.