Dual-Class Shares (Super-Voting Structure)

A share structure with two (or more) classes of common stock that carry identical economic rights but different voting power per share — commonly a founder-held class with 10-30+ votes per share versus one vote per share for the class sold to public investors.

Definition

Super-Voting Structure – A share structure with two (or more) classes of common stock that carry identical economic rights but different voting power per share — commonly a founder-held class with 10-30+ votes per share versus one vote per share for the class sold to public investors. Lets a founder retain majority voting control of the company while owning a small minority of its actual economic value, which limits public shareholders' ability to influence board composition, executive pay, or major corporate transactions regardless of how many Class A shares they collectively hold. Found In: Cover Page, Notes to Financial Statements (equity), Risk Factors