They’re non-voting shares that essentially double the float (total number of shares issued). This is just for him as the board made the decision not shareholders. This could quite possibly be a golden parachute given the record highs of METAs credit default swaps (CDS). Bond market basically thinks META will default. Funny thing is the stock price dropped 8% but if the float was double that math would cut and devalue/dilute existing shares & price thereof significantly more. Granted nothing material occurs for 89 more days. Should prove to be an interesting shit show to say the least.
They’re non-voting shares that essentially double the float (total number of shares issued). This is just for him as the board made the decision not shareholders. This could quite possibly be a golden parachute given the record highs of METAs credit default swaps (CDS). Bond market basically thinks META will default. Funny thing is the stock price dropped 8% but if the float was double that math would cut and devalue/dilute existing shares & price thereof significantly more. Granted nothing material occurs for 89 more days. Should prove to be an interesting shit show to say the least.