{"id":935377,"date":"2026-02-09T17:21:41","date_gmt":"2026-02-09T22:21:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\/"},"modified":"2026-02-09T17:21:41","modified_gmt":"2026-02-09T22:21:41","slug":"shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\/","title":{"rendered":"Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder"},"content":{"rendered":"<p>        <!--.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder<\/b><\/p>\n<p>CENTER VALLEY, Pa.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nShift4 Payments, Inc. (the \u201cCompany\u201d) is pleased to announce the completion of a simplification of its corporate structure (the \u201cSimplification Transaction\u201d) that the Company previously announced was being negotiated. The Simplification Transaction collapsed the Company\u2019s multi-share class structure into a single Class A share class structure and resulted in our Founder and former CEO, Jared Isaacman, simultaneously assigning and waiving his rights under the Tax Receivable Agreement (the \u201cTRA\u201d) with the Company.<\/p>\n<p><b>Transaction overview<\/b><\/p>\n<p>\nOn February 7, 2026, the Company, Shift4 Payments, LLC, Mr. Isaacman, and Rook Holdings Inc. (\u201cRook\u201d), an entity controlled by Mr. Isaacman, entered into an agreement to effect a corporate structure simplification to transfer and waive Rook\u2019s rights under the TRA and collapse the share class structure. Prior to the completion of the Simplification Transaction, all Class B and C shares were beneficially owned by Mr. Isaacman and Rook. Through this transaction, Mr. Isaacman has converted his equity interests in Shift4 Payments, LLC, along with his Class B and C shares in the Company into Class A shares. This transaction eliminated the Company&#8217;s previous &#8220;controlled company&#8221; status under NYSE corporate governance standards. Mr. Isaacman remains the Company&#8217;s largest equity holder with an approximately 25.9% ownership, following more than 25 years of founding, leading, and growing the business into a global financial technology powerhouse.<\/p>\n<p><span class=\"bwuline\">Actions completed under the Simplification Transaction Agreement:<\/span><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRook redeemed and exchanged all of its LLC Interests on a one\u2011for\u2011one basis for Class A shares and the corresponding Class B shares were cancelled;<\/p>\n<\/li>\n<li>\nMr. Isaacman and Rook converted all Class C shares on a one\u2011for\u2011one basis for Class A shares and Rook waived its consent rights under the prior stockholders agreement;<\/p>\n<\/li>\n<li>\nRook assigned its rights and benefits under the TRA to the Company, <i>making the company the sole beneficiary of the tax benefits associated with Rook\u2019s TRA;<\/i><\/li>\n<li>\nConsideration: In exchange for these and other company benefits, Mr. Isaacman (in part via Rook) received aggregate value of $191.8 million, consisting of (1) approximately $138.8 million in cash (tax distributions previously held by the Company), (2) 423,296 shares of the Company\u2019s mandatory convertible preferred stock issued in a private placement; and (3) deemed satisfaction in full of Mr. Isaacman\u2019s previously disclosed agreement to fund 50% of the Company\u2019s discretionary equity award program for non-management employees.<\/p>\n<\/li>\n<\/ul>\n<p><span class=\"bwuline\">Key benefits to the Company and investors:<\/span><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThis transaction eliminated Mr. Isaacman\u2019s voting and contractual control rights, and thus the Company&#8217;s previous &#8220;controlled company&#8221; status under NYSE corporate governance standards.<\/p>\n<\/li>\n<li>\nRemoving multiple share classes and super-voting stock attracts a wider audience of institutional and retail investors and certain indices. It also increases the public stockholders\u2019 influence on any potential future change of control transaction.<\/p>\n<\/li>\n<li>\nThe Company is relieved of an estimated $440 million of future TRA payments, removing a large and uncertain future cash outflow while improving long\u2011term free cash flow visibility. These benefits are now retained by the Company and its shareholders.<\/p>\n<\/li>\n<\/ul>\n<p>\nA special committee of the Company\u2019s Board of Directors, who retained PJT Partners LP as its independent financial advisor and Morris, Nichols, Arsht &amp; Tunnell LLP as its independent Delaware counsel, approved the Simplification Transaction.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nExcept for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Simplification Transaction, the assignment and waiver of the TRA and payments pursuant to the TRA, the elimination of voting and contractual control rights, other benefits to the Company, future negotiations, and the timing of any of the foregoing. Actual results may differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to the other risks, uncertainties, and other important factors disclosed in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2024, as updated by the Company\u2019s other filings with the SEC, copies of which are available free of charge on the Company\u2019s website at investors.shift4.com. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.<\/p>\n<p><b>About Shift4<\/b><\/p>\n<p>\nShift4 (NYSE: FOUR) powers the experience economy, enabling businesses to deliver the moments that matter. Transforming how people shop, dine, stay, and play, Shift4\u2019s commerce technology allows for a seamless experience at any scale. From your neighborhood restaurant to the world\u2019s largest event venues, Shift4 handles billions of transactions annually for hundreds of thousands of businesses around the world. For more information, visit shift4.com.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260209956354r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260209956354\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260209956354\/en\/<\/a><\/span><\/p>\n<p><b>Investor Relations:<\/b><\/p>\n<p>\nTom McCrohan<br \/>\n<br \/>EVP, Head of Investor Relations<br \/>\n<br \/>Shift4<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@shift4.com\">investors@shift4.com<\/a><\/p>\n<p>\nPaloma Main<br \/>\n<br \/>Director, Strategy &amp; Investor Relations<br \/>\n<br \/>Shift4<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@shift4.com\">investors@shift4.com<\/a><\/p>\n<p><b>Media Contacts:<\/b><\/p>\n<p>\nNate Hirshberg<br \/>\n<br \/>SVP, Marketing<br \/>\n<br \/>Shift4<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:nhirshberg@shift4.com\">nhirshberg@shift4.com<\/a><\/p>\n<p>\nICR<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Shift4pr@icrinc.com\">Shift4pr@icrinc.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Pennsylvania<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Fintech Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260209956354\/en\/1266423\/3\/Shift4_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder CENTER VALLEY, Pa.&#8211;(BUSINESS WIRE)&#8211; Shift4 Payments, Inc. (the \u201cCompany\u201d) is pleased to announce the completion of a simplification of its corporate structure (the \u201cSimplification Transaction\u201d) that the Company previously announced was being negotiated. The Simplification Transaction collapsed the Company\u2019s multi-share class structure into a single Class A share class structure and resulted in our Founder and former CEO, Jared Isaacman, simultaneously assigning and waiving his rights under the Tax Receivable Agreement (the \u201cTRA\u201d) with the Company. Transaction overview On February 7, 2026, the Company, Shift4 Payments, LLC, Mr. Isaacman, and Rook Holdings Inc. (\u201cRook\u201d), an entity controlled by Mr. Isaacman, entered &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-935377","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder CENTER VALLEY, Pa.&#8211;(BUSINESS WIRE)&#8211; Shift4 Payments, Inc. (the \u201cCompany\u201d) is pleased to announce the completion of a simplification of its corporate structure (the \u201cSimplification Transaction\u201d) that the Company previously announced was being negotiated. The Simplification Transaction collapsed the Company\u2019s multi-share class structure into a single Class A share class structure and resulted in our Founder and former CEO, Jared Isaacman, simultaneously assigning and waiving his rights under the Tax Receivable Agreement (the \u201cTRA\u201d) with the Company. Transaction overview On February 7, 2026, the Company, Shift4 Payments, LLC, Mr. Isaacman, and Rook Holdings Inc. (\u201cRook\u201d), an entity controlled by Mr. Isaacman, entered &hellip; Continue reading &quot;Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-09T22:21:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260209956354r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder\",\"datePublished\":\"2026-02-09T22:21:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\\\/\"},\"wordCount\":874,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20260209956354r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shift4-payments-inc-now-a-single-share-class-company-removing-super-voting-stock-and-eliminating-tax-receivable-obligations-to-founder\\\/\",\"name\":\"Shift4 Payments, Inc., Now a Single Share Class Company, Removing Super-Voting Stock, and Eliminating Tax Receivable Obligations to Founder - 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(the \u201cCompany\u201d) is pleased to announce the completion of a simplification of its corporate structure (the \u201cSimplification Transaction\u201d) that the Company previously announced was being negotiated. The Simplification Transaction collapsed the Company\u2019s multi-share class structure into a single Class A share class structure and resulted in our Founder and former CEO, Jared Isaacman, simultaneously assigning and waiving his rights under the Tax Receivable Agreement (the \u201cTRA\u201d) with the Company. Transaction overview On February 7, 2026, the Company, Shift4 Payments, LLC, Mr. Isaacman, and Rook Holdings Inc. 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