Subsequent Event

3 Months Ended

Mar. 31, 2016

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

In April 2016, our board of directors approved amendments to our restated certificate of incorporation that would, among other things, create a new class of non-voting capital stock (Class C capital stock). The amendments are reflected in a proposed amended and restated certificate of incorporation (New Certificate) filed with our preliminary proxy statement on April 27, 2016, the adoption of which is subject to the approval of our stockholders at our 2016 Annual Meeting of Stockholders to be held on June 20, 2016. Assuming the adoption of the New Certificate is approved, our board of directors intends to issue two shares of the Class C capital stock as a one-time stock dividend for each share of Class A and Class B common stock outstanding as of a record date to be determined by our board of directors. For accounting purposes, we expect this transaction will be treated as a stock split in the form of a dividend. The Class C capital stock will have no voting rights, except as provided in our New Certificate or required by applicable law. Except for voting rights, shares of Class C capital stock will have the same rights and powers, rank equally (including as to dividends and distributions, mergers or similar business combinations, and upon any liquidation, dissolution or winding up of the corporation), share ratably and be identical in all respects and as to all matters to the shares of Class A and Class B common stock, except as expressly provided in the New Certificate.