XML 29 R14.htm IDEA: XBRL DOCUMENT v3.20.4
Equity
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Equity
8. Equity
Each share of Class A common stock entitles the holder to one vote for each share on all matters submitted to a vote of the Company’s stockholders at all meetings of stockholders and written actions in lieu of meetings. Each share of Class B common stock entitles the holder to ten votes for each share on all matters submitted to a vote of the Company’s stockholders at all meetings of stockholders and written actions in lieu of meetings.
Holders of both classes of common stock are entitled to receive dividends, when and if declared by the board of directors.
Each share of Class B common stock is convertible into one share of Class A
common
stock at the option of the holder at any time. Automatic conversion shall occur upon the occurrence of a transfer of such share of Class B common stock or at the date and time, or the occurrence of an event, specified by a vote or written consent of the holders of a majority of the voting power of the then outstanding shares of Class B common stock.​​​​​​​
A transfer is described as a sale, assignment, transfer, conveyance, hypothecation or disposition
of
such share or any legal or beneficial interest in such share other than certain permitted transfers as described in the Restated Certificate of Incorporation, including a transfer to a holder of Preferred Stock. Each share of Class B common stock held by a stockholder shall automatically convert into one fully paid
and non-assessable share
of Class A common stock nine months after the death or incapacity of the holder of such
Class 
B common stock.​​​​​​​