- A new filing from Slack gives insight into how many shares may be available for sale when the office chat company goes public in its direct listing next week.
- 180 million company executives, investors and employees have converted their high-vote Class B stock into Class A stock since April 30, the company disclosed on Friday.
- CEO Stewart Butterfield and Chief Financial Officer Allen Shim are among the Slack insiders who have converted their equity.
- While these insiders aren’t obligated to sell the shares in the direct listing, shares have to be converted to Class A before they can be sold to the public.
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New information disclosed by Slack hints at just how many shares could be put up for sale when the office chat company goes public in a direct listing on Thursday.
As of June 13, there are 180,969,751 shares of Class A stock outstanding, and 323,542,383 shares of Class B common stock outstanding, Slack disclosed on Friday.
That means that nearly 180 million Class B shareholders have converted their stock since Slack’s last disclosure from April 30.