$100 Buys A Lot, Like Control Over Facebook
Class-B shareholders received $100 to surrender their voting control to Co-Founder and Chief Executive Officer Mark Zuckerberg.
More amusing nuggets continue to be unearthed from the trove of documents Facebook filed yesterday with the Securities and Exchange Commission for its upcoming initial public offering, including one referencing $100.
That’s what each class-B shareholder received in exchange for surrendering voting control to Co-Founder and Chief Executive Officer Mark Zuckerberg.
Is that $100 per share or $100 per holder, you ask? It looks like the latter, according to the legal agreement signed by the shareholders. The document says [unedited by us]:
This agreement is being entered into in exchange for a payment of $100 in cash from the Proxyholder to Stockholder and for other good and valuable consideration, the sufficiency of which is hereby acknowledged and agreed.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in