StockClass

Object - Stock Class#

https://raw.githubusercontent.com/Open-Cap-Table-Coalition/Open-Cap-Format-OCF/main/schema/objects/StockClass.schema.json

Description: Object describing a class of stock issued by the issuer

Data Type: OCF Object - STOCK_CLASS

Composed From:

schema/primitives/objects/Object

Properties:

Property	Type	Description	Required
id	`STRING`	Identifier for the object	`REQUIRED`
comments	[`STRING`]	Unstructured text comments related to and stored for the object	-
object_type	Constant: `STOCK_CLASS` Defined in schema/enums/ObjectType	Object type field	`REQUIRED`
name	`STRING`	Name for the stock type (e.g. Series A Preferred or Class A Common)	`REQUIRED`
class_type	`Enum - Stock Class Type` Description: Enumeration of stock class types ONE OF: • COMMON • PREFERRED	The type of this stock class (e.g. Preferred or Common)	`REQUIRED`
default_id_prefix	`STRING`	Default prefix for certificate numbers in certificated shares (e.g. CS- in CS-1). If certificate IDs have a dash, the prefix should end in the dash like CS-	`REQUIRED`
initial_shares_authorized	ONE OF the Following Types/Objs: • `Enum - Authorized Shares Types` Description: Enumeration of authorized shares types ONE OF: • NOT APPLICABLE • UNLIMITED • schema/types/Numeric	The initial number of shares authorized for this stock class	`REQUIRED`
board_approval_date	schema/types/Date	Date on which the board approved the stock class	-
stockholder_approval_date	schema/types/Date	Date on which the stockholders approved the stock class	-
votes_per_share	schema/types/Numeric	The number of votes each share of this stock class gets	`REQUIRED`
par_value	schema/types/Monetary	Per-share par value of this stock class	-
price_per_share	schema/types/Monetary	Per-share price this stock class was issued for	-
seniority	schema/types/Numeric	Seniority of the stock - determines repayment priority. Seniority is ordered by increasing number so that stock classes with a higher seniority have higher repayment priority. The following properties hold for all stock classes for a given company: a) transitivity: stock classes are absolutely stackable by seniority and in increasing numerical order, b) non-uniqueness: multiple stock classes can have the same Seniority number and therefore have the same liquidation/repayment order. In practice, stock classes with same seniority may be created at different points in time and (for example, an extension of an existing preferred financing round), and also a new stock class can be created with seniority between two existing stock classes, in which case it is assigned some decimal number between the numbers representing seniority of the respective classes.	`REQUIRED`
conversion_rights	[ schema/types/conversion_rights/StockClassConversionRight ]	List of stock class conversion rights possible for this stock class	-
liquidation_preference_multiple	schema/types/Numeric	The liquidation preference per share for this stock class	-
participation_cap_multiple	schema/types/Numeric	The participation cap multiple per share for this stock class	-

Source Code: schema/objects/StockClass

Examples:

[
  {
    "object_type": "STOCK_CLASS",
    "id": "8d8371e8-d41d-4a49-9f42-b91758fd155d",
    "name": "Common Stock",
    "class_type": "COMMON",
    "default_id_prefix": "CS-",
    "initial_shares_authorized": "1000000000.00",
    "board_approval_date": "2001-02-28",
    "votes_per_share": "1",
    "par_value": {
      "amount": "0.0001000000",
      "currency": "USD"
    },
    "price_per_share": {
      "amount": "0.0001000000",
      "currency": "USD"
    },
    "seniority": "1",
    "conversion_rights": [],
    "liquidation_preference_multiple": "1",
    "participation_cap_multiple": "1",
    "comments": []
  },
  {
    "object_type": "STOCK_CLASS",
    "id": "cc775778-7d6e-4f8a-93cf-4df2242d7d6d",
    "name": "Series Seed Preferred",
    "class_type": "PREFERRED",
    "default_id_prefix": "PS-",
    "initial_shares_authorized": "10000000.00",
    "board_approval_date": "2021-01-28",
    "votes_per_share": "1",
    "seniority": "2",
    "conversion_rights": [
      {
        "conversion_mechanism": {
          "type": "RATIO_CONVERSION",
          "conversion_price": {
            "amount": "1.00",
            "currency": "USD"
          },
          "ratio": {
            "numerator": "1",
            "denominator": "1"
          },
          "rounding_type": "NORMAL"
        },
        "converts_to_stock_class_id": "8d8371e8-d41d-4a49-9f42-b91758fd155d"
      }
    ],
    "liquidation_preference_multiple": "2",
    "participation_cap_multiple": "2",
    "comments": []
  }
]