Yelp Inc.on Sept. 23 reported conversion of Class A and Class B shares into a singleclass of common stock.
The company said all outstanding shares of its Class A andClass B common stock were automatically converted into a single class of commonstock on a 1-for-1 basis, effective at 5 p.m. ET on Sept. 22. Yelpfiled a certificate with the Delaware secretary of state on Sept. 23 for thechange.
The conversion did not impact the economic rights of holdersof either class of shares, but eliminated the difference in voting powers ofthe two classes of shares. Now all shares of Yelp's outstanding capital stockare now entitled to one vote per share.
Trading in the single class of common stock will continue onthe NYSE under the ticker symbol YELP.