Explanation of
Responses: |
(1) |
Represents the number of
shares sold by the Reporting Person to cover tax withholding
obligations in connection with the vesting of restricted stock
units. This sale is mandated by the Issuer's election under its
equity incentive plans to require the satisfaction of tax
withholding obligations to be funded by a "sell to cover"
transaction and does not represent a discretionary trade by the
Reporting Person. |
(2) |
The price reported in Column
4 is a weighted average price calculated by the broker. These
shares were sold as part of a block trade in multiple transactions
at prices ranging from $182.15 to $189.41, inclusive. The Reporting
Person undertakes to provide to the Issuer, any security holder of
the Issuer, or the staff of the Securities and Exchange Commission,
upon request, full information regarding the number of shares sold
at each separate price within the range set forth in this footnote
(2) with regard to the block trade. |
(3) |
Each share of Class B Common
Stock is convertible into one share of Class A Common Stock at the
option of the holder and has no expiration date. |
(4) |
This transaction was
effected pursuant to a Rule 10b5-1 trading plan previously adopted
by the Reporting Person. |
(5) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $180.10 to $181.04 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(6) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $181.15 to $182.10 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(7) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $182.23 to $182.70 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(8) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $183.31 to $184.28 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(9) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $184.34 to $185.29 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(10) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $185.34 to $186.32 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(11) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $186.35 to $187.34 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(12) |
The reported price is a
weighted average price. These shares were sold in multiple
transactions at prices ranging from $187.35 to $187.94 per share,
inclusive. The Reporting Person undertakes to provide to the
Issuer, any security holder of the Issuer, or to the staff of the
Securities and Exchange Commission, upon request, full information
regarding the number of shares sold at each separate price within
the range set forth in this footnote. |
(13) |
Each Restricted Stock Unit
("RSU") represents the right to receive one share of the Issuer's
Class A Common Stock. |
(14) |
25% of the shares underlying
the RSU vested on March 15, 2019, and the remaining shares
underlying the RSU shall vest in 12 equal quarterly installments
thereafter, subject to the Reporting Person's continuous employment
with the Issuer on each such date. |
(15) |
25% of the shares underlying
the RSU vested on March 15, 2020, and the remaining shares
underlying the RSU shall vest in 12 equal quarterly installments
thereafter, subject to the Reporting Person's continuous employment
with the Issuer on each such date. |
(16) |
17% of the shares underlying
the RSU vested on June 15, 2020, 33% of the shares underlying the
RSU shall vest on September 15, 2020, 39% of the shares underlying
the RSU shall vest on December 15, 2020, and the remaining 11% of
the shares underlying the RSU shall vest on March 15, 2021, subject
to the Reporting Person's continuous employment with the Issuer on
each such date. |
(17) |
20% of the shares subject to
the option vested on July 29, 2017, 20% of the shares subject to
the option vested on July 29, 2018, and the remaining shares
subject to the option shall vest in 36 equal monthly installments
thereafter, subject to the Reporting Person's continuous employment
with the Issuer on each such date. The option is early exercisable
by the Reporting Person. |
(18) |
The shares subject to the
option are fully vested and exercisable by the Reporting
Person. |
(19) |
25% of the shares subject to
the option vested on February 1, 2019, and the remaining shares
subject to the option shall vest in 36 equal monthly installments
thereafter, subject to the Reporting Person's continuous employment
with the Issuer on each such date. |
(20) |
25% of the shares subject to
the option vested on February 1, 2020, and the remaining shares
subject to the option shall vest in 36 equal monthly installments
thereafter, subject to the Reporting Person's continuous employment
with the Issuer on each such date. |
(21) |
25% of the shares subject to
the option shall vest on February 1, 2021, and the remaining shares
subject to the option shall vest in 36 equal monthly installments
thereafter, subject to the Reporting Person's continuous employment
with the Issuer on each such date. |
(22) |
25% of the shares underlying
the RSU shall vest on March 15, 2021, and the remaining shares
underlying the RSU shall vest in 12 equal quarterly installments
thereafter, subject to the Reporting Person's continuous employment
with the Issuer on each such date. |