Clearwire 2009 Annual Report Download - page 122

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Upon
li
qu
id
at
i
on,
di
sso
l
ut
i
on or w
i
n
di
ng up, t
h
eC
l
ass A Common Stoc
k
w
ill b
e ent
i
t
l
e
d
to any asset
s
r
ema
i
n
i
ng a
f
ter payment o
f
a
ll d
e
b
ts an
dli
a
bili
t
i
es o
f
C
l
earw
i
re, w
i
t
h
t
h
e except
i
on o
f
certa
i
nm
i
n
i
ma
lli
qu
id
at
i
on
r
i
g
hts provided to the Class B Common Stockholders, which are described below.
Cl
ass B
C
ommon
S
toc
k
T
he Class B Common Stock represents non-economic votin
g
interests in Clearwire and holders of this stoc
k
are cons
id
ere
d
t
h
e non-contro
lli
ng
i
nterests
f
or t
h
e purposes o
ffi
nanc
i
a
l
report
i
ng. I
d
ent
i
ca
l
to t
h
eC
l
ass A Common
S
toc
k
,t
h
e
h
o
ld
ers o
f
C
l
ass B Common Stoc
k
are ent
i
t
l
e
d
to one vote per s
h
are,
h
owever t
h
ey
d
o not
h
ave any r
i
g
h
ts
t
o receive distributions other than stock dividends paid proportionall
y
to each outstandin
g
Class A and Class B
Common Stockholder or upon liquidation of Clearwire, an amount equal to the par value per share, which is
$
0.0001 per share
.
Each holder of Class B Common Stock holds an equivalent number of Clearwire Communications Class
B
Common Interests, w
hi
c
hi
nsu
b
stance re
fl
ects t
h
e
i
r econom
i
c sta
k
e
i
nC
l
earw
i
re. T
hi
s
i
s accomp
li
s
h
e
d
t
h
rou
gh
an
e
xc
h
an
g
e
f
eature t
h
at prov
id
es t
h
e
h
o
ld
er t
h
er
igh
t, at an
y
t
i
me, to exc
h
an
g
e one s
h
are o
f
C
l
ass B Common Stoc
k
p
lus one Clearwire Communications Class B Common Interest for one share of Class A Common Stock.
Cl
earwire
C
ommunications Interests
C
learwire is the sole holder of votin
g
interests in Clearwire Communications. As such, Clearwire control
s
1
00% o
f
t
h
e
d
ec
i
s
i
on ma
ki
ng o
f
C
l
earw
i
re Commun
i
cat
i
ons an
d
conso
lid
ates 100% o
fi
ts operat
i
ons. C
l
earw
i
re
a
l
so
h
o
ld
sa
ll
o
f
t
h
e outstan
di
n
g
C
l
earw
i
re Commun
i
cat
i
ons C
l
ass A Common Interests represent
i
n
g
21.1% o
f
t
he
e
conomics of Clearwire Communications as of December 31, 2009. The holders of the Class B Common Interests
own t
h
e rema
i
n
i
ng 78.9% o
f
t
h
e econom
i
c
i
nterests. T
h
e
f
o
ll
ow
i
ng s
h
ows t
h
ee
ff
ects o
f
t
h
ec
h
anges
i
nC
l
earw
i
re’s
owners
hi
p
i
nterests
i
nC
l
earw
i
re Commun
i
cat
i
ons (
i
nt
h
ousan
d
s):
Yea
r
E
n
ded
December 31,
2009
P
e
r
iod
Fr
om
N
ovember
29,
2008
t
o
December 31,
200
8
Net
l
oss attr
ib
uta
bl
eto
Cl
ear
wi
re . .
.
..........................
$(
319,199
)$(
29,621
)
D
ecrease
i
nC
l
earw
i
re’s a
ddi
t
i
ona
l
pa
id
-
i
n cap
i
ta
lf
or
i
ssuance o
f
Cl
ass A an
d
B Common Stoc
k
re
l
ate
d
to t
h
e post-c
l
os
i
n
g
adj
ustment
............................................
(
33,
6
32
)—
D
ecrease
i
nC
l
earw
i
re’s a
ddi
t
i
ona
l
pa
id
-
i
n cap
i
ta
lf
or
i
ssuance o
f
Cl
ass B
C
ommon
S
toc
k
..................................
(
140,253
)—
I
ncrease
i
nC
l
earw
i
re’s a
ddi
t
i
ona
l
pa
id
-
i
n cap
i
ta
lf
or
i
ssuance o
f
Cl
ass A
C
ommon
S
toc
k
..................................
17
,
957 161
Ch
ange
f
rom net
l
oss attr
ib
uta
bl
etoC
l
earw
i
re an
d
trans
f
ers to non
-
contro
lli
ng
i
nterests .....................................
$(
475,127
)$(
29,460
)
Th
e non-vot
i
ng C
l
earw
i
re Commun
i
cat
i
on un
i
ts are
d
es
i
gnate
d
as e
i
t
h
er C
l
earw
i
re Commun
i
cat
i
ons C
l
ass A
Common Interests, w
hi
c
h
are 100%
h
e
ld by
C
l
earw
i
re, or C
l
earw
i
re Commun
i
cat
i
ons C
l
ass B Common Interests,
w
hich are held by Sprint and the Investors, with the exception of Google. Both classes of non-voting Clearwir
e
Commun
i
cat
i
on un
i
ts part
i
c
i
pate
i
n
di
str
ib
ut
i
ons o
f
C
l
earw
i
re Commun
i
cat
i
ons on an equa
l
an
d
proport
i
onat
e
b
as
i
s
.
Eac
hh
o
ld
er o
f
C
l
earw
i
re Commun
i
cat
i
ons C
l
ass B Common Interests
h
o
ld
s an equ
i
va
l
ent num
b
er o
f
C
l
ass
B
Common Stoc
k
an
d
w
ill b
e ent
i
t
l
e
d
at an
y
t
i
me to exc
h
an
g
e one s
h
are o
f
C
l
ass B Common Stoc
k
p
l
us one C
l
earw
i
re
Communications Class B Common Interest for one share of Class A Common Stock
.
112
CLEARWIRE CORPORATION AND
S
UB
S
IDIARIE
S
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS —
(
Continued
)