# Class C ownership and liquidity illustration

This package separates common-share economics, ordinary votes and the recipient of cash. It is based on the signed October 20 Founder Alignment Agreement, not earlier negotiating proposals in the preliminary information statement.

Run `node ownership.mjs` and `node verify.mjs`. Inputs and sources are in `evidence.json`; saved output is `results.json`. Figures can be rebuilt with `node render-figures.mjs`, adding `--png` when Sharp is available (or set `AIC_SHARP_MODULE`).

## Ownership ledger

The initial hypothetical company has 900 A and 100 B shares, all 100 B held by the illustrated founder group. A/B/C ordinary vote weights are 1/10/0. The group has 10% of economic share units and 52.63% of ordinary votes. The initial pro rata C dividend leaves both percentages unchanged. A 200-share C primary sale at 5 cash units raises 1,000 for the company and reduces the group's economic percentage to 9.09%, without changing its votes. A secondary sale of 20 free C produces 100 for the seller, not the company. A later 10-C sale plus paired 10-B-to-A conversion produces 50 seller cash and changes the vote ratio. A qualifying pro rata additional dividend again leaves percentage ownership unchanged.

Cash columns are incremental flows for each event. No stock value, voting premium, class-specific discount, tax, fee or investment return is calculated. The sale price is a hypothetical post-initial-dividend assumption. No price is used to value the pro rata dividends. The illustration is not Meta's actual capitalization or any sale by its founder.

## Release and stapling

The release example assumes all 100 initial C units remain owned: 20 initially free and 80 subject to matching conditions. Each qualifying full quarter releases 2.5 units, not 2.5% of the remaining block. An unqualified quarter pauses the count, not ownership. Additional-dividend conditions, actual calendar dating and other events are outside this simple path; cessation of B holdings is separately tested as a release override.

The stapling calculator takes one independent pre-sale snapshot. It uses `min(1,(A+B+credits)/stapledC)`, applies available credits by default, then rounds up remaining matched A/B sale or B-to-A conversion actions. It does not update a trading account or determine complete permission to trade. Actual inputs must be reassessed for each transaction, with charter, insider-trading, notice and cure conditions considered separately. The no-B release overrides the ordinary ratio.

Source provisions also govern additional dividends, post-leadership restrictions, resumption, terminations and certificate disputes. No new Additional Dividend Date may occur after the founder's death; this is separate from a failure of continued leadership. These conditions are recorded qualitatively, not replaced by the calculator. New financing proceeds and actual founder transactions remain unknown. Reuse AIC figures and calculations with attribution, dates and assumptions retained; original documents remain with their publishers.