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STOCKHOLDERS’ EQUITY (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Stock by Class
The following table summarizes the capitalization and voting rights of the Company’s classes of stock after the completion of the IPO and the Reorganization Transactions and as of September 30, 2024:
AuthorizedPar ValueIssued & OutstandingVotes per shareEconomic Rights
Preferred Stock50,000,000 $0.01 None
Common stock:
Class A(1)
300,000,000 $0.01 14,811,8741Yes
Class B(1)
100,000,000 $0.00001 7,277,6511No
Class C(2)
100,000,000 $0.00001 33,893,81010No
(1)     Each share of Class A Common Stock and non-economic Class B Common Stock entitles its holder to one vote per share on all matters submitted to a vote of the stockholders.
(2)     Each share of non-economic Class C Common Stock entitles its holders to ten votes per share on all matters presented to the stockholders and on which the holders of the Class C Common Stock are entitled to vote; provided, that each share of Class C Common Stock will be entitled to one vote per share automatically (i) 12 months following the death or disability of Richard F. (“Gordy”) Bunch III or (ii) upon the first trading day on or after such date that the outstanding shares of non-economic Class C Common Stock represent less than 10% of the then-outstanding Class A Common Stock, non-economic Class B Common Stock and non-economic Class C Common Stock, which, in either instance, may be extended to 18 months upon affirmative approval of a majority of the independent directors.
Schedule of Ownership of TWFG
The following table summarizes the ownership of TWFG Holding as of September 30, 2024:
Owner
Units
Owned
Ownership percentage
TWFG, Inc.
14,811,874 26.5 %
Noncontrolling interests
41,171,461 73.5 %
Total
55,983,335 100.0 %