The company said it announced new conversion rates for its class B-1 and B-2 common stock on October 11, 2024, September 26, 2024, following its deposit of $1.5 billion into the U.S. litigation escrow account previously established under its U.S. retrospective responsibility plan.

1. 01

   The company said it announced new conversion rates for its class B-1 and B-2 common stock on October 11, 2024, September 26, 2024, following its deposit of $1.5 billion into the U.S. litigation escrow account previously established under its U.S. retrospective responsibility plan.

2. 02

   Under the Plan's terms, the conversion rate for class B-1 common stock fell from 1.5875 to 1.5653, effective as of September 26, 2024, the company said.

3. 03

   The company said the conversion rate for class B-2 common stock fell from 1.5875 to 1.5430 under the Plan's terms, and that this adjustment also took effect on September 26, 2024.

4. 04

   The company said the conversion rate adjustments have the same effect on earnings per share as repurchasing its class A common stock. As-converted class B-1 share count fell by about 107,575, from 7,676,253 to 7,568,678, and class B-2 share count fell by about 5,354,510, from 191,040,105 to 185,685,595.

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Original filing

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