Montana Reclassification of Class B common stock into Class A common stock

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This sample form, a detailed Reclassification of Class B Common Stock Into Class A Common Stock document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

Class-A shares are held by regular investors and carry one vote per share. Class-B shares, held primarily by Brin and Page, have 10 votes per share. Class-C shares are typically held by employees and have no voting rights.

The Bottom Line. Class A and Class B shares differ in their availability, convertibility, and power as it relates to voting. One isn't necessarily better than the other, but Class A shares offer significant benefit in the event of a sale or when an outside force wants to obtain more voting power.

Key Takeaways Class A shares involve paying a fee when you purchase your shares. Class B shares impose a fee when you sell your shares. Class C shares impose a fee while holding the shares, such as 0.5% of the value of the share per period.

Class B shares typically have lower dividend priority than Class A shares and fewer voting rights. However, different classes do not usually affect an average investor's share of the profits or benefits from the company's overall success.

Class A Shares Also, the longer the shares are held, the lower the effective cost will be. As 12b-1 fees for Class A shares are generally lower than those imposed by the Class B and Class C, the total expenses tend to be lower than those classes, over time.

Conversion. Each Class B ordinary share is convertible into one Class A ordinary share at any time by the holder thereof. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances.

The difference between Class A shares and Class B shares of a company's stock usually comes down to the number of voting rights assigned to the shareholder. Class A shareholders generally have more clout. Despite Class A shareholders almost always having more voting rights, this isn't actually a legal requirement.

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Montana Reclassification of Class B common stock into Class A common stock