Common Stock

9 Months Ended

Sep. 30, 2019

The Company’s amended and restated certificate of incorporation authorizes the issuance of Class A common stock and Class B common stock. The holder of each share of Class A common stock is entitled to one vote per share, while the holder of each share of Class B common stock is entitled to 10 votes per share. As of September 30, 2019 and December 31, 2018, the Company was authorized to issue 2,250,000,000 and 550,000,000 shares of Class A common stock, respectively, and 315,000,000 and 300,000,000 shares of Class B common stock, respectively, each with a par value of $0.001 per share. There were 86,838,606 and zero shares of Class A common stock issued and outstanding as of September 30, 2019 and December 31, 2018, respectively. The number of shares of Class B common stock issued and outstanding was 213,308,441 and 91,542,243, as of September 30, 2019 and December 31, 2018, respectively.

Holders of the Company’s Class A common stock and Class B common stock are entitled to dividends when, as and if declared by the Company’s board of directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. Any dividends paid to the holders of the Class A common stock and Class B common stock will be paid on a pro rata basis. As of September 30, 2019 and December 31, 2018, the Company had not declared any dividends. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting, protective provisions and conversion. Class A common stock and Class B common stock are referred to, collectively, as common stock throughout the notes to these condensed consolidated financial statements, unless otherwise indicated.

Common Stock Reserved for Future Issuance

Shares of common stock reserved for future issuance, on an as-if converted basis, are as follows:


	September 30, 2019	December 31, 2018

	(in thousands)
Conversion of redeemable convertible preferred stock	—	165,658
Stock options issued and outstanding	21,878	25,087
Remaining shares available for issuance under the 2010 Plan	—	13,356
Remaining shares available for issuance under the 2019 Plan	29,387	—
Redeemable convertible preferred stock warrants outstanding	—	177
Outstanding and unsettled RSUs	6,185	—
Shares available for issuance under the ESPP	5,870	—
Total shares of common stock reserved	63,320	204,278