Zuckerberg Pledges Eight Years in California or Meta's Headquarters State
Photo: TokenPost
Meta’s planned nonvoting share distribution is tied to an eight-year residency pledge from CEO Mark Zuckerberg, who can live in California or the state where Meta is headquartered. The agreement allows an exception for material unforeseen circumstances and gives Zuckerberg a way to sell part of his economic stake without reducing his voting control. The arrangement follows his consideration of moving his primary residence out of California in response to Proposition 40, a proposed tax on billionaires. Meta will issue one Class C share for each Class A or Class B share.
Source: TokenPost
