A share class is what defines different types of shares in company stock. Different share classes will hold different levels of voting rights and may contain other provisions attached to those shares.
To create a share class on Orchestra, you will need to be logged in and have access as a company administrator to make any changes. From your dashboard, click the ‘Share Register’ dropdown from the toolbar on the left of the page and select ‘Share classes'.
Existing Share Classes
On the next page, you will see all of your existing share classes listed. Each class will have a description of the class of shares. This can be an explanation of when these shares were issued, or anything material relating to that class. Each share class also has an option to be restricted or unrestricted. When enabled, share class restrictions will prevent you from performing certain actions such as share transfers. There is also a restriction description, outlining what the restriction on the relevant share class is.
Any of these attributes can be modified by clicking on the name of the share class, where you can edit the name, description, and restrictions on the share class.
Creating a New Share Class
To create a new share class, click the 'Create share class' button. Input fields will pop up, allowing you to specify a name for the share class, any description necessary for the shares, and restrict the shares if applicable. Once you have entered the details, click 'Create' to generate a new class of shares.