Ā鶹app

(12)Ā Ā Stockholdersā€™ Equity

Preferred Stock

Ā鶹appā€™s preferred stock is issuable, from time to time, with such designations, preferences and relative participating, optional or other rights, qualifications, limitations or restrictions thereof, as shall be stated and expressed in a resolution or resolutions providing for the issue of such preferred stock adopted by Ā鶹appā€™s board of directors. As of DecemberĀ 31, 2019, no shares of preferred stock were issued.

Common Stock

As discussed in noteĀ 2, on AprilĀ 15, 2016, the Company completed the Recapitalization of its common stock into three new tracking stock groups, one designated as the Ā鶹app SiriusXM common stock, one designated as the Ā鶹app Braves common stock and one designated as the Ā鶹app Media common stock. As further discussed in noteĀ 2, the Ā鶹app Media common stock was renamed Ā鶹app Formula One common stock on JanuaryĀ 24, 2017 shortly after the Second Closing.

As discussed in noteĀ 1, on JulyĀ 23, 2014, holders of SeriesĀ A and SeriesĀ B Ā鶹app common stock received a dividend of two shares of SeriesĀ C Ā鶹app common stock for each share of SeriesĀ A or SeriesĀ B Ā鶹app common stock held by them as of JulyĀ 7, 2014.

SeriesĀ A Ā鶹app SiriusXM, Ā鶹app Braves and Ā鶹app Formula One common stock have one vote per share, SeriesĀ B Ā鶹app SiriusXM, Ā鶹app Braves and Ā鶹app Formula One common stock have ten votes per share and SeriesĀ C Ā鶹app SiriusXM, Ā鶹app Braves and Ā鶹app Formula One common stock have no votes per share except as otherwise required by Delaware law. Each share of SeriesĀ B common stock is exchangeable at the option of the holder for one share of SeriesĀ A common stock of the same group. All series of our common stock participate on an equal basis with respect to dividends and distributions.

Purchases of Common Stock

There were no repurchases of Ā鶹app common stock made pursuant to the Companyā€™s authorized repurchase program during the year ended December 31, 2017.

During the year ended DecemberĀ 31, 2018, the Company repurchased 10.8Ā million shares of SeriesĀ C Ā鶹app SiriusXM common stock for aggregate cash consideration of $466Ā million under the authorized repurchase program. All of the foregoing shares obtained have been retired and returned to the status of authorized and available for issuance. There were no repurchases of SeriesĀ A Ā鶹app SiriusXM common stock, Ā鶹app Braves common stock or Ā鶹app Formula One common stock and no repurchases of Series C Ā鶹app Braves common stock or Ā鶹app Formula One common stock during the year ended DecemberĀ 31, 2018.

During the year ended DecemberĀ 31, 2019, the Company repurchased 11.0Ā million shares of SeriesĀ C Ā鶹app SiriusXM common stock for aggregate cash consideration of $443Ā million under the authorized repurchase program. All of the foregoing shares obtained have been retired and returned to the status of authorized and available for issuance. There were no repurchases of SeriesĀ A Ā鶹app SiriusXM common stock, Ā鶹app Braves common stock or Ā鶹app Formula One common stock and no repurchases of Series C Ā鶹app Braves common stock or Ā鶹app Formula One common stock during the year ended DecemberĀ 31, 2019.

Dividends Declared by Subsidiary

During the year ended DecemberĀ 31, 2017, Sirius XM Holdings declared a cash dividend each quarter, and paid in cash an aggregate amount of $190Ā million, of which Ā鶹app received $130Ā million.

During the year ended DecemberĀ 31, 2018, Sirius XM Holdings declared a cash dividend each quarter, and paid in cash an aggregate amount of $201Ā million, of which Ā鶹app received $143Ā million.

During the year ended DecemberĀ 31, 2019, Sirius XM Holdings declared a cash dividend each quarter, and paid in cash an aggregate amount of $226Ā million, of which Ā鶹app received $157Ā million. Sirius XM Holdingsā€™ board of directors expects to declare regular quarterly dividends, in an aggregate annual amount of $0.05324 per share of common stock. On JanuaryĀ 30, 2020, Sirius XM Holdingsā€™ board of directors declared a quarterly dividend on its common stock in the amount of $0.01331 per share of common stock, payable on FebruaryĀ 28, 2020 to stockholders of record at the close of business on FebruaryĀ 12, 2020.