other material
confidence high
sentiment neutral
materiality 0.70
Fastly converts all Class B common stock to Class A, eliminating dual-class voting structure
Fastly, Inc.
- All outstanding Class B shares (10 votes each) automatically converted to Class A shares (1 vote each) on July 12, 2021.
- Authorized capital reduced from 1,104,129,050 to 1,014,191,275 shares; Class B shares retired and no further issuance.
- Conversion triggered by Class B shares falling below 10% of total outstanding Class A and Class B shares.
- Economic interests unchanged; total issued and outstanding shares unchanged (one-for-one conversion).
- Class A common stock continues to trade as 'FSLY' with same CUSIP; shareholder rights modified.