Peloton Insiders will have 20 Votes Per Share — Twice as Many as Those at Other Startups — But CEO John Foley may not Wield all the Power after the IPO
Read Full Article
- Like many startups that have gone public recently, Peloton will have a stock structure that gives extra votes to certain insiders.
- Many companies with such arrangements give insiders 10 votes per share, but Peloton CEO John Foley and some early investors in the fitness firm will get 20 votes per share.
- At least as things stand now, Foley wouldn't have majority control by himself, because he's not the biggest holder of super-voting shares...