on Monday announced a 10-for-1 stock split of the company’s class A and class B shares, joining a growing list of companies that have split their shares to make them more attractive for investors.Shopify said each shareholder, as of June 22, would receive nine more shares on June 28 for each share held.
Currently, the company’s class A shares carry one vote per share and class B shares carry 10 votes per share.The company also said it would authorize a new class of shares, called the Founder share, to Tobi Lutke, its chief executive officer and founder. The Founder share will provide Lutke with a variable number of votes and combined with his previously owned shares from other classes, will represent 40 per cent of the total voting power attached to all of Shopify’s outstanding shares.
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