EQUITY

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

EQUITY

EQUITY

Common Stock and Class B Common Stock

The Company has two classes of common stock, including common stock (“Common Stock”) and Class B common stock (“Class B Common Stock”), both of which entitle stockholders to one vote per share except as described below.

The Company’s Common Stock trades on the New York Stock Exchange under the symbol “ADT” since the Company’s initial public offering in January 2018.

Class B Common Stock was issued in September 2020 to Google LLC (“Google”) in a private placement pursuant to a securities purchase agreement dated July 31, 2020 (the “Securities Purchase Agreement”). Each share of Class B Common Stock has equal status and rights to dividends as a share of Common Stock. The holders of Class B Common Stock have one vote for each share of Class B Common Stock held on all matters on which stockholders are entitled to vote generally except for voting on the election, appointment, or removal of directors of the Company. Additionally, each share of Class B Common Stock will immediately become convertible into one share of Common Stock, at the option of the holder, subject to certain timing and restrictions.

Dividends

(in thousands, except per share data)			Common Stock				Class B Common Stock
Declaration Date	Record Date	Payment Date	Per Share		Aggregate		Per Share		Aggregate
Six Months Ended June 30, 2022
3/1/2022	3/17/2022	4/4/2022	$	0.035	$	29,842	$	0.035	$	1,916
5/5/2022	6/16/2022	7/5/2022	0.035		30,028		0.035		1,916
		Total	$	0.070	$	59,870	$	0.070	$	3,832
Six Months Ended June 30, 2021
2/25/2021	3/18/2021	4/1/2021	$	0.035	$	27,220	$	0.035	$	1,916
5/5/2021	6/17/2021	7/1/2021	0.035		27,268		0.035		1,916
		Total	$	0.070	$	54,488	$	0.070	$	3,832

Subsequent Event - On August 4, 2022, the Company announced a dividend of $0.035 per share to holders of Common Stock and Class B Common Stock of record on September 15, 2022, which will be distributed on October 4, 2022.

Accumulated Other Comprehensive Income (Loss)

Refer to Note 8 “Derivative Financial Instruments” for AOCI reclassifications associated with cash flow hedges. There were no other reclassifications out of AOCI.