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Shopify Plans a 10-for-1 Stock Split, Eyes ‘Founder Share’

ecommerce software
  • April 17, 2022
  • E-commerce, Insights

Shopify  (NYSE: SHOP), an e-commerce subscription-based software platform that lets SMEs start and manage their businesses, is anticipating a 10-for-1 equity split, as well as shareholder approval for a “founder share” for its CEO Tobi Lutke to increase his voting power. Shopify will authorize and issue a new class of non-transferable founder shares to Lutke, giving him a total voting power of 40% when combined with his current Class B shares, pending shareholder approval. The proposed 10-for-1 split of Shopify’s Class A and Class B shares requires at least two-thirds of shareholder votes to be approved. Investors will get nine additional Class A or Class B shares for every one share held after the close of business on June 28 if the proposal is adopted. A stock split could increase retail share ownership since the lower stock price is more accessible to a wider variety of investors.

Shopify plans a 10-for-1 stock split, eyes ‘founder share’ to protect CEO’s voting power

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