Snap is moving ahead with its 2026 annual meeting on July 30, but the outcome is effectively already decided.
Stockholders holding a majority of the voting power have said they intend to approve both items by written consent before the meeting: the election of 13 directors and the ratification of Ernst & Young LLP as the company’s independent registered public accounting firm for fiscal 2026.
The voting power is heavily concentrated. As of June 26, 2026, Snap had 1,428,130,737 shares of Class A common stock outstanding, 22,523,290 shares of Class B, and 231,626,943 shares of Class C. Class A holders do not get a vote on the pending matters. Class B shares carry one vote each, while Class C shares carry 10 votes each.
That structure leaves co-founder and CEO Evan Spiegel and co-founder and CTO Robert Murphy with voting rights over more than 99% of the voting power of the shares entitled to vote. The company says Spiegel and Murphy intend to vote their Class C shares “for” each director nominee and “for” the audit firm ratification.
The meeting itself will be virtual and open at 2:00 p.m. Pacific time. Stockholders as of the June 26 record date who hold Class B or Class C shares may vote; Class A holders may attend but cannot vote.
For the board slate, Snap is asking stockholders to re-elect 13 current directors. The company says those directors will serve until the next annual meeting, or until a successor is elected and qualified.
Snap also disclosed the scale of the voting pool behind the consent: 22,523,290 Class B shares and 231,626,943 Class C shares were outstanding and entitled to vote as of the record date. Since Class C shares have 10 votes apiece, that class dominates the tally. As a result of these announcements, the company's shares have moved 0.74% on the market, and are now trading at a price of $4.735. If you want to know more, read the company's complete 8-K report here.
