The company said that on December 11, 2024, each of its 1 outstanding shares of Class B common stock automatically converted into 1 shares of Class A common stock under the terms of its Certificate of Incorporation.

1. 01

   The company said that on December 11, 2024, each of its 1 outstanding shares of Class B common stock automatically converted into 1 shares of Class A common stock under the terms of its Certificate of Incorporation.

2. 02

   Under Article IV, Section 3.4 of the Certificate of Incorporation, the company said Class B shares convert automatically on the first day that Class B shares outstanding represent less than 5% of the combined outstanding shares of Class A and Class B common stock.

3. 03

   The company said that before the conversion, Class B shares carried ten votes per share, while Class A shares carry one vote per share. It said the conversion had no effect on the economic interests of former Class B holders.

4. 04

   The company said it filed a Certificate of Retirement with the Secretary of State of Delaware on December 12, 2024 to retire the Class B shares that were issued but not outstanding after the conversion. It said that as a result, its total authorized shares were reduced by the number of retired Class B shares.

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Original filing

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