Prior to this offering, there has been no public market for our Class A common stock. As a result, Mr. Xu will be able to determine or significantly influence any action requiring the approval of our stockholders, including the election of our board of directors, theĪdoption of amendments to our certificate of incorporation and bylaws, and the approval of any merger, consolidation, sale of all or substantially all of our assets, or other major corporate transaction. Fang and Tang, and their respective permitted entities and permitted transferees, at hisĭiscretion on all matters to be voted upon by stockholders. Messrs. Xu, Fang, and Tang have entered into a votingĪgreement whereby Mr. Xu will have the authority (and irrevocable proxy) to direct the vote and vote the shares of Class B common stock held by Messrs. Xu, Fang, and Tang had been exercised or vested and exchanged for shares ofĬlass B common stock as of the date of the completion of this offering, Messrs. Xu, Fang, and Tang would collectively hold 79% of the voting power of our outstanding capital stock. If all such equity awards held by Messrs. Xu, Fang, and Tang exercise or vest in equity awards outstanding at the time of the completion of this offering. Xu, Fang, and Tang will collectively hold approximately 69% of the voting power of our outstanding capital stock, which voting power may increase over time as Upon completion of this offering, Messrs. Who are all current executives and directors. Upon the completion of this offering, all shares of Class B common stock will be held by Tony Xu, Andy Fang, and Stanley Tang, or our Co-Founders, Upon the completion of this offering, no shares of Class C common stock will be issued and outstanding. Shares of Class C common stock have no voting rights, except as otherwise required by law,Īnd will convert into Class A common stock, on a share-for-share basis, following the conversion or exchange of all outstanding shares of Class B common stock into shares of Class A common stock and upon the date or time specified by the holders ofĪ majority of the outstanding shares of Class A common stock voting as a separate class. Each share of Class B common stock is entitled to 20 votes per share and is convertible at any time into one share of Class A common stock. Each share of Class A common stock is entitled to one The rights of the holders of Class A common stock, Class B common stock, and Class C common stock are identical, except with respect to voting and conversion. We have three classes of authorized common stock, Class A common stock, Class B common The new fact sheet provides more information on 2016 Social Security and SSI changes.Offering of shares of Class A common stock of DoorDash, Inc. These amounts will remain unchanged in 2016. Since there is no COLA, the statute also prohibits a change in the maximum amount of earnings subject to the Social Security tax, as well as the retirement earnings test exempt amounts. Other changes that would normally take effect based on changes in the national average wage index also won’t begin in January 2016.
Prices for goods and services, on average, haven’t increased enough to affect the COLA. When inflation stays at the same rate, your cost of living also stays the same. As a result, your SSI benefit rate and, for most people, your Social Security benefit amount will stay the same in 2016. The CPI has not risen since the last cost-of-living adjustment in 2015. The government measures changes in the cost of living through the Department of Labor’s Consumer Price Index (CPI-W). By law, the monthly Social Security and SSI federal benefit rate increases when there is a rise in the cost of living. Social Security’s annual cost-of-living adjustment (COLA) is an increase in the benefit amount people receive each month.
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