(Reuters) – Reddit co-founder and CEO Steve Huffman beneficially owns 62.4 million Class A shares of the social media company, a regulatory filing showed on Friday. Those shares were equivalent to 61.5% of the share class, based on a calculation that includes factors such as the right to acquire more shares by exercising stock options […]
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Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows
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(Reuters) – Reddit co-founder and CEO Steve Huffman beneficially owns 62.4 million Class A shares of the social media company, a regulatory filing showed on Friday.
Those shares were equivalent to 61.5% of the share class, based on a calculation that includes factors such as the right to acquire more shares by exercising stock options and the conversion of Class B shares into Class A shares, according to the filing.
Reddit, whose initial public offering in March valued the company at $6.4 billion, will report quarterly results for the first time on Tuesday.
(Reporting by Akash Sriram in Bengaluru and Noel Randewich in Oakland; Editing by Alan Barona)