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Shopify Proposes ‘Founder Share’ for CEO,10-for-1 Stock Split

By
Malique Morris
· · Source: The Information

Shopify on Monday proposed 10-for-1 stock split as well as changes that would protect the voting power of CEO Tobias Lütke. Under the proposal, the e-commerce giant would issue a “founder share” to Lütke that would give him a total of 40% voting control of the company. The share expires if Lütke, who founded Shopify in 2004, leaves the company and cannot be transferred to anyone else. Both...

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