Annual report pursuant to Section 13 and 15(d)

Business Operations and Organization (Tables)

v3.21.1
Business Operations and Organization (Tables)
 12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Stockholders Equity
The following table sets forth the economic and voting interests of holders of our Common Stock as of the date of this Form 10-K:
Class of Common Stock (ownership)
Total Shares Outstanding (1)
Class A Shares (as converted) (2)
Economic Interest in the Operating Company (3)
Voting Interest in Greenlane (4)
Economic Interest in Greenlane (5)
Class A 13,322,416 13,322,416 31.6  % 14.3  % 100.0  %
Class B (non-founder members) 3,490,909 3,490,909 8.3  % 3.8  % —  %
Class C (founder members) 76,039,218 25,346,406 60.1  % 81.9  % —  %
Total 92,852,543 42,159,731 100.0  % 100.0  % 100.0  %
(1) Represents the total number of outstanding shares for each class of common stock as of December, 31, 2020.
(2) Represents the number of shares of Class A common stock that would be outstanding assuming the exchange of all outstanding shares of Class B common stock and Class C common stock upon redemption of all related Common Units. Shares of Class B common stock and Class C common stock, as the case may be, would be canceled, without consideration, on a one-to-one basis in the case of Class B common stock and a three-to-one basis in the case of Class C common stock, pursuant to the terms and subject to the conditions of the Operating Agreement.
(3) Represents the indirect economic interest in the Operating Company through the holders' ownership of common stock.
(4) Represents the aggregate voting interest in us through the holders' ownership of Common Stock. Each share of Class A common stock, Class B common stock and Class C common stock entitles its holder to one vote per share on all matters submitted to a vote of our stockholders.
(5) Represents the aggregate economic interest in us through the holders' ownership of Class A common stock.