Class B-3 Common Stock definition
Examples of Class B-3 Common Stock in a sentence
The holders of shares of Class B-1 Common Stock; Class B-2 Common Stock; and Class B-3 Common Stock, shall each elect a nominating committee for their respective class (each, a “Class B Nominating Committee”).
In any such vote, holders of Class B-1 Common Stock shall be entitled to six votes for each share of Class B-1 Common Stock held, holders of Class B-2 Common Stock shall be entitled to two votes for each share of Class B-2 Common Stock held, holders of Class B-3 Common Stock shall be entitled to one vote for each share of Class B-3 Common Stock held and holders of Class B-4 Common Stock shall be entitled to one-sixth of one vote for each share of Class B-4 Common Stock held.
The inclusivity or exclusivity of markets will relate partly to the power of incumbents, as discussed in section2.3 above.Relevant especially for policy-makers, a third condition is that successful delivery of sustainable practices and outcomes depends on opportunities for risk-adjusted returns being sufficient to attract investors, but at the same time not being so high as to impose unacceptable costs on different energy user groups.
The Corporation has authority to issue 1,000,000,000 shares of stock, consisting of 905,000,000 shares of Class A Common Stock, $0.01 par value per share (“Class A Common Stock”), 45,000,000 shares of Class B-3 Common Stock, $0.01 par value per share (“Class B-3 Common Stock”) (Class A Common Stock and Class B-3 Common Stock, collectively, the “Common Stock”), and 50,000,000 shares of Preferred Stock, $0.01 par value per share (“Preferred Stock”).
Each issued and outstanding share of Class B-3 Common Stock shall, automatically and without any action on the part of the holder thereof, convert into one (1) share of Class A Common Stock upon the close of trading on the date that is the one (1) year anniversary of the listing of the Class A Common Stock on a national securities exchange (the “Listing Date”).
At each annual meeting of shareholders prior to the 2020 Annual Meeting, the holders of shares of Class B-1 Common Stock; Class B-2 Common Stock; and Class B-3 Common Stock, shall each elect a nominating committee for their respective class (each, a “Class B Nominating Committee”).
At each annual meeting of shareholders thereafter, holders of the Class B-1 Common Stock; Class B-2 Common Stock; and Class B-3 Common Stock, shall elect the members of their respective Class B Nominating Committees from candidates selected as provided in Section 4.2(b).
Upon a Charity Transfer of Class B-1 Common Stock, Class B-2 Common Stock or Class B-3 Common Stock, there shall be no conversion.
Each unissued share of Class B-3 Common Stock shall automatically be reclassified as one (1) share of Class A Common Stock at the close of trading on the one (1) year anniversary of the Listing Date.
The Corporation at all times shall reserve and keep available, out of its authorized but unissued Class B Common Stock, Class B-1 Common Stock, Class B-2 Common Stock and Class B-3 Common Stock at least the number of shares of Class B Common Stock, Class B-1 Common Stock, Class B-2 Common Stock and Class B-3 Common Stock that would become issuable upon the conversion of all shares of Class A-1 Common Stock, Class A-2 Common Stock and Class A-3 Common Stock then outstanding.