GitLab (GTLB) disclosed that Sytse Sijbrandij converted all of his GitLab class B common stock into class A common stock on May 14. The conversion was not made in connection with a purchase or sale of GitLab stock. Each share of the company’s class B common stock entitles its holder to cast 10 votes per share, compared to one vote per share for the class A common stock. “The conversion was undertaken by Mr. Sijbrandij for personal tax planning matters and was not the result of any disagreement with the Company,” GitLab added.
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