Common Stock

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Common Stock

Common Stock

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 December 31, 2023 and 2022, the Company was authorized to issue 2,250,000,000 shares of Class A common stock and 315,000,000 shares of Class B common stock, each with a par value of $0.001 per share. There were 298,088,556 and 286,560,947 shares of Class A common stock issued and outstanding as of December 31, 2023 and 2022, respectively. The number of shares of Class B common stock issued and outstanding was 39,443,337 and 43,524,514, as of December 31, 2023 and 2022, 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 December 31, 2023 and 2022, 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 and conversion. Shares of the Company's Class B common stock are convertible into an equivalent number of shares of the Company's Class A common stock and generally convert into shares of the Company's Class A common stock upon cessation of employment or transfer, except for certain transfers described in the Company's amended and restated certificate of incorporation. Class A common stock and Class B common stock are referred to, collectively, as common stock throughout the notes to these 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:

	December 31,
	2023	2022
	(in thousands)
2025 Notes	—	5,503
2026 Notes	10,311	10,311
Stock options issued and outstanding	12,523	15,886
Remaining shares available for issuance under the 2019 Plan	56,442	44,693
Outstanding and unsettled RSUs	10,894	10,196
Shares available for issuance under the ESPP	13,844	10,990
Total shares of common stock reserved	104,014	97,579