Meta is giving all its shareholders a new Class C stock, it comes after CEO Mark Zuckerberg told directors he may lose …
Meta Platforms has announced a new Class C share structure that will allow CEO Mark Zuckerberg to maintain voting control of the social media giant while giving the company greater flexibility to raise capital, fund acquisitions and compensate employees as it ramps up spending on artificial intelligence. According to a report by Fortune, the move, disclosed alongside Meta’s third-quarter earnings, comes after months of intense negotiations between Zuckerberg and a special committee of board members over how to balance shareholder interests with the founder’s desire to retain control of the company he founded in 2004. The new structure will see every existing Class A and Class B share receive one non-voting Class C share, effectively creating a two-for-one stock split.
