Redeemable Convertible Preferred Stock and Stockholders’ Equity

3 Months Ended

Mar. 31, 2023

Redeemable Convertible Preferred Stock and Stockholders’ Equity

Stockholders’ Equity

Common Stock

As of March 31, 2023, the Company’s Twelfth Amended and Restated Certificate of Incorporation authorizes the issuance of up to 1,050,000,000 shares of common stock, par value of $0.0001 per share, of which 750,000,000 shares are designated Class A common stock, 150,000,000 shares are designated Class B common stock, and 150,000,000 shares are designated Class C common stock. Class A common stock receives one vote per share, Class B common stock receives ten votes per share, and Class C common stock has no voting rights except as required by Delaware law. Common stock is not redeemable at the option of the holder.

As of March 31, 2023, outstanding shares of common stock as well as shares of common stock attributable to stock options, restricted stock units (“RSUs”), and performance stock units (“PSUs”) were as follows:


	Class A	Class B	Class C
Common stock outstanding	96,282,522	19,318,298	—
Employee stock options – outstanding	1,054,324	1,802,248	—
Restricted stock units – outstanding	2,901,351	1,956,310	—
Performance stock units – outstanding	—	4,397,688	—
Employee stock plans – available	25,309,009	—	—
Shares of Class A common stock issuable upon conversion of all outstanding Class B common stock, options, RSUs, and PSUs	27,474,544	—	—
Total common stock – outstanding or issuable	153,021,750	27,474,544	—
Shares authorized	750,000,000	150,000,000	150,000,000
Common stock authorized and available for future issuance	596,978,250	122,525,456	150,000,000

Preferred Stock

As of March 31, 2023, 50,000,000 preferred shares were authorized and no shares were outstanding.