When ARXS insiders can sell

LLC and Jefferies LLC for a period of 180 days after the date of this prospectus (the "restricted period"). The restrictions on our actions, as described above, do not apply to certain customary transactions, including (A) the offer, issuance, sale and disposition of the shares of Class A common stock in this offering; (B) the issuance of our stock pursuant to employee stock option plans existing on, or upon the conversion or exchange of convertible or exchangeable securities outstanding as of, the date of this prospectus; (C) grants of stock options, stock awards, restricted stock, RSUs, st…

Upon completion of this offering, we will have 63,653,980 shares of Class A common stock outstanding (or 69,728,980 shares of Class A common stock if the underwriters exercise their option to purchase additional shares in full), 340,676,786 shares of Class B common stock outstanding, no shares of Class C common stock outstanding and one share of convertible common stock outstanding. All shares sold in this offering will be freely transferable without restriction or registration under the Securities Act, except for any shares purchased by one of our "affiliates," as that term is defined in Rule 144 under the Securities Act.

(vii) above, that the donee, devisee, transferee or distributee has agreed to be bound by a lock-up agreement in the form of the lock-up agreement; (b) enter into or amend a written plan meeting the requirements of Rule 10b5-1 under the Exchange Act relating to the transfer, sale or other disposition of the lock-up party's lock-up securities, if then permitted by us, provided that none of the securities subject to such plan may be transferred, sold or otherwise disposed of until after the expiration of the lock-up period and no public announcement, report or filing under the Exchange Act, or any other public filing, report or announ…

Notwithstanding the foregoing, the lock-up parties may: (a) transfer the lock-up securities: (i) as one or more bona fide gifts or charitable contributions, or for bona fide estate planning purposes, (ii) upon death by will, testamentary document or intestate succession, (iii) if the party is a natural person, to any member of the lock-up party's immediate family (for purposes of the lock-up agreement, "immediate family" shall mean any relationship by blood, current or former marriage, domestic partnership or adoption, not mor…

Notwithstanding the foregoing, the lock-up parties may: (a) transfer the lock-up securities: (i) as one or more bona fide gifts or charitable contributions, or for bona fide estate planning purposes, (ii) upon death by will, testamentary document or intestate succession, (iii) if the party is a natural person, to any member of the lock-up party's immediate family (for purposes of the lock-up agreement, "immediate family" shall mean any relationship by blood, current or former marriage, domestic partnership or adoption, not more remote than first cousin) or to any trust, partnership, limi…

…r Class A common stock, or 5% of the shares being offered pursuant to this prospectus, for sale at the initial public offering price to certain individuals and entities as determined by certain of our officers through a directed share program. See "Underwriting—Directed Share Program" for additional information. One or more funds and/or accounts managed by Capital International Investors, one or more funds and/or accounts managed by Capital Research Global Investors, certain funds and accounts managed by Janus Henderson Investors, and certain accounts advised by T. Rowe Price Investment Management, Inc. (the "Cornerstone Investors")

Grant and Exercise of Options . Each participant will be granted, on the first trading day of an offering period (the "grant date") an option to purchase, on each purchase date during the offering period, a number of shares of our Class A common stock determined by dividing the participant's accumulated payroll deductions by the applicable purchase price. Unless determined otherwise by the compensation committee, the purchase price for the option will be 85% of the fair market value of a share of our Class A common stock on the purchase date.