Class A vs. Class C Stock: Differences and Examples

Not all shares are created equal when it comes to buying stock. For example, Class A shares often come with more voting power, while Class C shares may offer limited or no voting rights but can still grant access to dividends or capital gains. These classifications can affect how much influence shareholders have over corporate decisions, particularly in companies with dual-class structures.

For help selecting stocks and managing your portfolio, consider working with a financial advisor.

What Are Class A and Class C Shares of Stock?

When corporations issue different classes of stock, Class A shares are often positioned at the top of the hierarchy. These shares typically come with enhanced voting rights and privileges.

While a standard common share might carry one vote per share, Class A shares frequently offer multiple votes, sometimes 10 or more. This concentrated voting power enables Class A shareholders to exert significant influence over board elections, merger approvals and policy changes. Their job is to provide a group of shareholders greater influence over company decisions.

Class C shares generally come with fewer voting rights than Class A, sometimes none at all. This makes them a distinct investment option for shareholders who prioritize economic benefits over corporate governance participation. For everyday investors, this means owning a piece of the company without significantly influencing its management decisions.

Is There a Class B?

Yes, Class B shares of stock also exist. These shares usually carry fewer voting rights than Class A shares but more than Class C shares, striking a middle ground in dual- or multi-class structures. They are often held by company insiders, such as founders or executives, to retain some control while allowing broader investment. However, sometimes companies grant greater vo

Example of Class A and Class C Shares

Not all companies have multiple classes of stock, let alone Class A and Class C shares.

Liberty Global, a multinational telecommunications company, issues Class A (ticker: LBTYA), Class B (ticker: LBTYB) and Class C shares (ticker: LBTYK). Class A shares come with one vote each, while Class C shares carry no voting rights. This structure enables Liberty Global to attract public capital without altering control held by insiders, who typically hold Class B shares with enhanced voting power (10 votes per share).

Under Armour also maintains both Class A and Class C shares. Its Class A shares (ticker: UAA) come with one vote each, while its Class C shares (ticker: UA) do not carry any voting rights. Founder Kevin Plank holds Class B shares with ten votes apiece, giving him ongoing control of the company despite limited public voting influence. This structure enables Under Armour to access investor capital while maintaining founder oversight.

Class A vs. Class C Shares: Key Differences

Class A and Class C shares differ primarily in how they balance investor rights with company control. While both can represent ownership in a company, they typically vary in terms of voting power, availability and the roles they serve in corporate structures. Below are the key distinctions:

Voting rights: Class A shares usually come with voting rights—often one vote per share—giving shareholders a voice in corporate decisions. Class C shares typically have no voting rights.
Ownership structure: Class A shares are often held by both the public and insiders, while Class C shares are commonly used to raise capital without diluting control, especially in founder-led companies.
Public availability: Both Class A and Class C shares may be publicly traded, but C shares are often issued in greater quantities to maximize capital access with limited governance impact.
Use by companies: Class C shares are frequently used for employee compensation or acquisitions where voting rights are not necessary. Class A shares are more common for general public trading.
Ticker symbols: Companies often assign different tickers to distinguish between classes—for example, Alphabet’s GOOGL (Class A) vs. GOOG (Class C).

Why There Are Different Classes of Stock

Multiple share classes allow companies to separate economic ownership from control. This structure is often used by founders and early executives who want to access public capital without surrendering influence over long-term strategy.

By issuing shares with different voting rights, companies can tailor ownership to various stakeholder groups—such as giving employees equity incentives without voting power or offering institutional investors greater governance input.

It also gives founders a way to maintain vision consistency without the short-term pressure that may come from activist shareholders. In some cases, companies use this structure to shield management from hostile takeovers or to preserve strategic independence while scaling.

Although this approach can create tension between governance and capital access, it offers flexibility in corporate structuring that appeals to firms with strong leadership intent on retaining influence after going public.

Bottom Line

Class A and Class C shares reflect two approaches to structuring shareholder roles—one focused on voting power, the other on economic participation. Companies use this separation to maintain control while still opening the door to broader investment. For shareholders, choosing between Class A and Class C often comes down to whether having a say in corporate decisions matters as much as sharing in potential financial returns.

Portfolio Management Tips

A financial advisor can help build and manage a portfolio that fits your specific needs, taking into account factors like taxes, income goals and risk preferences. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Short-term goals may call for lower-risk assets like bonds or cash equivalents, while long-term goals can support more volatility through equities or alternative investments. Matching investment choices to time frames helps manage both risk and liquidity.