Coupled with its quality holdings, below average fees make RSEIX (and
the other classes of shares) more attractive.
Returns for
other classes of share s offered by the Fund are different.
Not exact matches
Jamie Allen
of the Asian Corporate Governance Association says the effort to get more big - ticket listings on Hong Kong's stock exchange by allowing dual -
class shares has more cons than pros and could set a standard for
other countries.
Shareholders will now have one vote per
share, ending a
class of supervoting
shares in a move that substantially decreases the power
of Kalanick and some
other early investors.
Dual -
class shares and
other regulatory changes are making Chinese technology firms look closer to home for listings, says Wilson Chow
of PwC.
Except as expressly provided in the Plan, no issuance by Google
of shares of stock
of any
class, or securities convertible into
shares of stock
of any
class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number
of shares or amount
of other property subject to, or the terms related to, any Incentive Award.
I don't mean run it in the red — I mean pay yourself a huge salary, reward yourself with a gigantic bonus regardless
of actual company performance, and issue a special
class of shares that only you own that gives you ten times the dividends the
other shareholders receive.
Except as expressly provided in the Plan, no Participant shall have any rights by reason
of any subdivision or consolidation
of shares of stock
of any
class, the payment
of any dividend, any increase or decrease in the number
of shares of stock
of any
class or any dissolution, liquidation, merger or consolidation
of Alphabet or any
other corporation.
Except as expressly provided in the Plan, no issuance by Alphabet
of shares of stock
of any
class, or securities convertible into
shares of stock
of any
class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number
of shares or amount
of other property subject to, or the terms related to, any Incentive Award.
Many
of our friends and neighbors
of all socioeconomic
classes have not been exposed enough to fundamental financial principles and to that end we invite you to
share this guide with
others in your immediate circle and wider communities who may benefit from a refresher on these basic finance points.
When Facebook staged its initial public offering six years ago, it implemented a dual -
class share structure that means Zuckerberg personally controls a majority
of the voting stock even though
other investors own the majority
of the financial value
of the company.
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.
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 c
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 c
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 c
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 c
Class B common stock, voting separately as a
classclass.
Volatility represented by annualized standard deviation
of monthly returns for Institutional
shares, all
other share classes will vary, from first month - end after inception (2/28/89).
We offer many ways for you to combine your current purchase
of Class A fund
shares with
other existing Franklin Templeton fund
shares that might enable you to qualify for a lower sales charge with your current purchase.
Any reserved
shares not so purchased will be offered by the underwriters to the general public on the same terms as the
other shares of Class A common stock offered hereby.
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.
Upon effectiveness
of that registration statement, subject to the satisfaction
of applicable exercise periods, the expiration or waiver
of the market standoff agreements and lock - up agreements referred to above, and applicable volume restrictions and
other restrictions that apply to affiliates, the
shares of our capital stock issued upon exercise
of outstanding options to purchase
shares of our
Class A common stock will be available for immediate resale in the United States in the open market.
CFTC Chairman Christophe Giancarlo went on record, saying that Bitcoin, alongside a lot
of other cryptocurrencies
share elements
of different asset
classes, regardless
of whether it's a matter
of long - term asset or means for payment.
In
other words, the returns
of Facebook and Google may be exceptions rather than the rule when it comes to dual -
class shares.
Accordingly, prospective investors should consult with their own tax advisors regarding the U.S. federal, state, local, non-U.S. income, and
other tax considerations
of acquiring, holding, and disposing
of shares of our
Class A common stock.
Except as expressly provided in the Plan, no issuance by J. Crew Group, Inc.
of shares of stock
of any
class, or securities convertible into
shares of stock
of any
class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number
of shares or amount
of other property subject to, or the terms related to, any Incentive Award.
He is also the author
of several IGOPP policy papers, which offer new perspectives on a range
of controversial issues including: Dual -
class voting
shares, Corporate Citizenship, The place
of women on boards
of directors, Say - on - Pay by shareholders, The Gordian knot
of executive compensation, The Troubling Case
of Proxy Advisors, among
others.
[17] After 1918, a growing number
of corporations issued two
classes of common stock: one having full voting rights on a one vote per
share basis, the
other having no voting rights (but sometimes having greater dividend rights).
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, 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;
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.
By having a larger weight in secular growth sectors, A-shares provide access to sectors
of the economy currently under - represented in
other share classes.
LLC for a period
of 180 days after the date
of this prospectus,
other than the
shares of our
Class A common stock to be sold hereunder and any
shares of our
Class A common stock issued upon the exercise
of options granted under our equity incentive plans.
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.
When a LLC Unit is exchanged by a Continuing LLC Owner (which we would generally expect to occur in connection with a sale or
other transfer), a corresponding
share of Class B common stock held by the exchanging owner is also exchanged and will be cancelled.
There are a good chunk
of Class B
shares that belong to
other Alphabet board members and even some shareholders not on Alphabet's board.
After the initial offering
of the
shares of Class A common stock, the offering price and
other selling terms may from time to time be varied by the representatives.
In the George W. Bush administration, changes in accounting regulations and Federal policies made granting
of broad - based stock options and restricted and
other stock grants to employees in high technology and
other companies less attractive, which led to a huge drop in employee
share ownership among the middle
class in those companies and industries.
Dual -
class shares refer to the ownership structure
of a company, where one
class of shares holds some sort
of voting power over the
other.
In some cases Avonmore will take the same
class /
share - rights as
other investors in a round irrespective
of the tax relief available.
Coupled with its quality holdings, below average fees make RVFIX (and
other share classes of the fund) more attractive.
SHARE director
of law and policy Laura O'Neill said the only
other directors she knows
of who failed to win majority support this year were on the board
of Quebecor Inc., where holders
of class B subordinate
shares voted just 43 per cent in favour
of electing the entire board as a slate.
The added bonus
of fun, upbeat choreography, and the Pure Barre friendships she made through attending
class, lead Lauren to want to become an owner / operator
of her own Pure Barre studio, so that she could
share her experience with
others.
Yuan's suit — which represents a
class of unknown size — alleges that failures to disclose the ongoing situation with Cambridge Analytica has reduced the value
of shares he and
others hold in the company.
Holmes owns a
class of stock that has 100 times the voting power as
other shares.
The firm was also a finalist in two
other categories: «Robo Advisor Tools — Best in
Class,» and a nomination for «Founder
of the Year,» which was
shared by its co-founding father and son Walter and Jeff Cruttenden.
For St Thomas, and for Aristotle before him, that which makes an individual a particular type
of thing is its form, which it
shares with every
other individual in the same
class of thing.
Strikingly, our catechists these days often just use apologetics tracts as their textbooks for catechism
class, giving the faithful mere leftovers
of what was actually prepared for
others who do not yet
share our faith.
Any
other pearls
of unfounded «wisdom» you'd like to
share with the
class?
equally important is the fact that in addition to family physicians, the clergymen
of the community,... and the
other guardians
of mental health can consult with the center's professional staff to aid in serving individual patients about whom they
share concern, as well as to add to their own knowledge
of mental health and mental illness through formal and informal
classes and meetings presented by the center's staff.
Such awareness will include a prophetic criticism
of American feminism when it is too narrow in scope, when it demands that the power
of determining and directing social goals and structures be
shared with middle - and upper -
class American women while
other women and groups are still excluded from that realization.
So, as Catherine and Micah pointed out, the passage about women not wearing jewelry and fine clothes can serve as a reminder that we are to avoid materialism and make sure that
class distinctions do not get in the way
of loving
others and
sharing the gospel.
In the article «Treasury Wine
class action fires up» (AFR, July 3), it is reported that Brian Jones bought 1000
shares in 2012 at an average price
of $ 4.76 and claims that he is bringing this action on his and
other persons» behalf.