Common Stock and Non-Voting Common Stock

6 Months Ended

Jun. 30, 2020

Stockholders Equity Note [Abstract]

Common Stock and Non-Voting Common Stock

Note 5. Common Stock and Non-Voting Common Stock

As of June 30, 2020 and December 31, 2019, the Company’s certificate of incorporation authorized the Company to issue 1,006,431,208 shares of common stock (including 6,431,208 shares of non-voting common stock) and 200,000,000 shares of preferred stock, at a par value of $0.01 per share. Each share of common stock (excluding non-voting common stock) is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Company’s Board of Directors, subject to prior rights of the preferred stockholders. As of June 30, 2020 and December 31, 2019, no dividends have been declared.

The Company had reserved common stock, on an as-converted basis, for future issuance as follows:

	June 30,		December 31,
	2020		2019
Preferred stock, issued and outstanding		—		—
Restricted stock, issued and outstanding		58,259		58,259
Stock options, issued and outstanding		2,974,547		2,289,209
Stock options and restricted stock units, future issuance		2,855,052		2,669,264
Employee stock purchase plan, available for future grants		497,826		280,000
Total		6,385,684		5,296,732