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Rohan Paul· @rohanpaul_ai · X· · Original publication time AI score40

Anthropic IPO would leave public shareholders with little say over its board, report saysMachine translation

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TechCrunch reports that Anthropic’s Long-Term Benefit Trust holds Class T shares that elect and remove a majority of directors. Another share class held jointly by the seven cofounders gives a majority of them 50.1% of shareholder votes and three board seats. The nominating committee can block the trust’s selection or removal without cause of one specified director and send the decision to an employee vote.

Original post · AI translation

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TechCrunch 发表了一篇文章。Anthropic 上市后,公众股东对董事会成员人选几乎没有发言权。

其长期利益信托的成员包括本·伯南克;该信托持有 T 类股票,有权选举和罢免多数董事。

7 位联合创始人共同持有另一类股份,使其中的多数人掌握 50.1% 的股东投票权和 3 个董事会席位。

董事会提名委员会仍可制衡该信托:它可以阻止信托选择或无故罢免 1 名“指定”董事,并将该决定交由员工投票。

这一条款将员工的影响力正式写入制度;正是这种影响力迫使 OpenAI 董事会在 2023 年解雇萨姆·奥尔特曼后又恢复其职务。

创始人控制权可在上市 10 年后由创始人自行选择终止;一旦留任的创始人少于 3 人,也会自动终止。

该信托将持续存在,直到 85% 的普通股股东投票决定将其撤销,或该信托获得董事会批准后自行退出。

因此,投资者买入的是一家控制权会在创始人、受托人和员工之间转移的公司;如果创始人之间出现分歧,普通股股东的话语权将高于预期。

Source: Rohan Paul · x.com

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