The weighted - average exercise
price is calculated based
solely on the exercise
prices of the outstanding stock options and does not reflect the shares that will be issued
upon the vesting of outstanding awards of RSUs, which have no exercise
price.
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;
As long as money continues to pour into a fund, the company will issue new shares for purchase, and the
price per share is
solely dependent
upon the
prices of the securities in its portfolio.