Stockholders’ equity

Predecessor Common Stock

Our Amended and Restated Certificate of Incorporation filed April 12, 2010, created seven classes of $0.01 par value per share common stock, classes A through G, with the rights and preferences summarized below. The Class A common stock carries standard voting, dividend and liquidation rights. The class B, C and D common stock was issued to our former stockholders, with a separate class issued to each stockholder. The class E and class F common stock was issued to CCMP. One share of class G common stock was issued to two former stockholders.

On the Effective Date, all existing common stock of the Predecessor was canceled and each holder of such stock did not receive any distribution or retain any property on account of their stock interest.

Successor Common Stock

On the Effective Date, we issued a total of 44,982,142 shares of Successor common stock consisting of 37,110,630 shares of Class A common stock and 7,871,512 shares Class B common stock pursuant to our Reorganization Plan and our new organizational documents. The new Class A shares and Class B shares had identical economic and voting rights. However, Class B shares were subject to certain redemption provisions upon demand to the Company by certain stockholders undertaking an initial public offering, as described in our Third Amended and Restated Certificate of Organization. On December 19, 2018, all outstanding shares of Class B common stock converted into the same number of shares of Class A common stock. Each share of Class B Common Stock that was converted has been retired by the Company and is not available for reissuance. The conversion had no impact on the voting power of the holders of shares of Class B Common Stock. The conversion had no impact on the total number of the Company’s issued and outstanding shares of capital stock.

Summary of changes in common stock

The following is a summary of the changes in our common shares outstanding:



	Common Stock
	Class A		Class B		Class C		Class E		Class F		Class G		Total
Shares outstanding at January 1, 2017 - Predecessor	333,686		344,859		209,882		504,276		1		2		1,392,706
Restricted stock forfeited	(1,454	)	—		—		—		—		—		(1,454	)
Restricted stock canceled	(8,964	)	—		—		—		—		—		(8,964	)
Shares outstanding at March 21, 2017 - Predecessor	323,268		344,859		209,882		504,276		1		2		1,382,288
Cancellation of Predecessor equity	(323,268	)	(344,859	)	(209,882	)	(504,276	)	(1	)	(2	)	(1,382,288	)
Shares outstanding at March 21, 2017 - Predecessor	—		—		—		—		—		—		—

Issuance of Successor common stock - rights offering	4,197,210		—		—		—		—		—		4,197,210
Issuance of Successor common stock - backstop premium	367,030		—		—		—		—		—		367,030
Issuance of Successor common stock - settlement of claims	32,546,390		7,871,512		—		—		—		—		40,417,902
Shares outstanding at March 21, 2017 - Successor	37,110,630		7,871,512		—		—		—		—		44,982,142
Stock-based compensation	1,853,236		—		—		—		—		—		1,853,236
Restricted stock canceled	(7,616	)	—		—		—		—		—		(7,616	)
Shares outstanding at December 31, 2017 - Successor	38,956,250		7,871,512		—		—		—		—		46,827,762
Issuance of restricted stock	55,600		—		—		—		—		—		55,600
Conversion of Class B shares	7,871,512		(7,871,512	)	—		—		—		—		—
Repurchase of common stock	(261,103	)	—		—		—		—		—		(261,103	)
Restricted stock forfeited	(231,746	)	—		—		—		—		—		(231,746	)
Shares outstanding at December 31, 2018 - Successor	46,390,513		—		—		—		—		—		46,390,513
Stock-based compensation	2,002,173		—		—		—		—		—		2,002,173
Restricted stock forfeited	(316,821	)	—		—		—		—		—		(316,821	)
Repurchase of common stock	(209,852	)	—		—		—		—		—		(209,852	)
Issuance of common stock - litigation settlement	76,217		—		—		—		—		—		76,217
Shares outstanding at December 31, 2019 - Successor	47,942,230		—		—		—		—		—		47,942,230