Stockholders' Equity

3 Months Ended

Mar. 31, 2021

10. Stockholders’ Equity

Preferred Stock

As of December 31, 2020 and March 31, 2021, the Company had authorized 10,000,000 shares of undesignated preferred stock, par value $0.001, of which no shares were issued and outstanding.

Common Stock

As of December 31, 2020 and March 31, 2021, the Company had authorized 100,000,000 shares of Class A common stock, par value $0.001 per share, with one vote per share and 20,000,000 shares of Class B common stock, par value $0.001 per share, with ten votes per share. As of December 31, 2020, 22,413,004 and 2,496,125 shares of Class A common stock and Class B common stock, respectively, were issued and outstanding. As of

March 31, 2021, 22,873,604 and 2,215,170 shares of Class A common stock and Class B common stock, respectively, were issued and outstanding.

Shares of Class B common stock are convertible into shares of Class A common stock upon the stockholder’s voluntary written notice to the Company’s transfer agent or a transfer by the stockholder, subject to limited exceptions for transfers for estate planning purposes.

Reserved Shares

The Company had reserved shares of Class A common stock for issuance under stock-based award agreements as follows:


	As of December 31,	As of March 31,
	2020	2021
Stock options issued and outstanding	255,000	196,433
Nonvested restricted stock units issued and outstanding	450,614	405,875
Stock-based awards available for grant under the 2017 Plan	2,020,342	3,044,024
	2,725,956	3,646,332