Investor Presentaiton
Basic and Adjusted Diluted Shares Outstanding Calculation
Total Bitcoin Holdings
6/30/2020
12/31/2020
70,470
12/31/2021
124,391
12/31/2022
132,500
12/31/2023
189,150
Shares Outstanding (in '000s)
Class A
7,651
7,623
9,322
9,585
14,904
Class B
2,035
1,964
1,964
1,964
1,964
Basic Shares Outstanding
(1)
9,686
9,587
11,286
11,549
16,868
2025 Convert Shares @$398
1,633
1,633
1,633
1,633
2027 Convert Shares @$1,432
733
733
733
Options Outstanding
1,481
1,157
1,167
1,577
1,294
RSU/PSU Unvested
74
105
120
235
Adj. Diluted Shares Outstanding
(2)
11,167
12,451
14,924
15,612
20,763
(1) Basic Shares Outstanding reflects the actual Class A and Class B common stock outstanding as of the dates presented.
(2) Adjusted Diluted Shares Outstanding reflects the maximum potential impact from conversion of our 2025 and 2027 Convertible Notes at conversion prices of $398 and $1,432, respectively,
outstanding stock option awards at average exercise price of $287, outstanding restricted stock units and performance stock units as of the dates presented.
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