Is 2.5B still current/at what ratio of O/S would the CEO be at risk of losing a majority voting control (incl. preferred). Seems this limit would be important with the control he seems to want to maintain with movie distribution and financing dealings – (going to tuff it out going it alone so to speak)?.
An aspect of the bump was Manu keeping his voting rights. He has 10M preferred. Initially his voting rights were 25 to 1. So with 250M shares he would no longer control the company. They are now 250 to 1. So issuing more than 2.5B shares would risk his controlling the company.
Of course he could increase the authorized and increase his voting rights again.