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For the stock split, shareholders of record as of the close of business on June 22, 2022 will receive on June 28, 2022 nine additional Class A subordinate voting shares or Class B multiple voting shares, as applicable, for every one share held.
The founder share would preserve CEO and founder Tobi Lutke’s 40% voting power. It will sunset if Tobi no longer serves the Company in certain capacities or Tobi, his immediate family and his affiliates no longer hold a number of Class A and Class B shares equal to at least 30% of the Class B shares currently held by Tobi and his affiliates.
Shares of Shopify are down 73% year-to-date but remain up 2109% from the 2015 IPO price of $17.
