WHAT HAPPENED: Google announced plans to issue a new class of stock to shareholders. The new shares won’t have any voting power.
THE THINKING: It will help Google’s senior leaders keep control years from now so they can preserve Google’s long-term interests. Employees given Google stock in the future would get the non-voting stock. The same would hold true for companies that Google buys using its stock. Without change, those extra shares would dilute the management’s voting power over time.
WHAT NOW?: It needs approval in June, though that’s expected.
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