CORRECTION: DRS percentage of 'Free Float' is Actually 36.51%
So, I am in a discord with u/bpiraeus and right after posting the 25.45% of the Free float, I realized something in the 10-K that was filed yesterday, we discussed it with our other friend Ark, and he posted the update. Since my post got over 10,000 upvotes, I think it is important to post this as well, since the previous post had incorrect information.
on page F-3 there is an important statement in the table:
"Class A common stock — $.001 par value; authorized 300.0 shares; 75.9 and 65.3 shares issued and outstanding, respectively"
There are 10.6 million shares restricted, which are not on the market and will only be awarded to insiders based on vesting schedules.
This means that computershared.net needs to update its float total to not include these shares.
Institutional Unknown:
- 13,716,541
Mutual Funds:
- 7,957,066
ETFs:
- 6,690,476
Insider:
- 12,612,303
Restricted:
- 10,600,000
Float Total:
24,374,395
DRS total:
-8,900,000
Remaining Float:
15,474,395
Please help me get this to the mods so they can recategorize my post yesterday to wherever it belongs.
A 13% discrepancy between the stated float and the actual float could be the cause for 100% utilization, because any trading algo that has a 13% difference in expected vs actual is basically worthless.
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