"Contrary to certain news reports, T. Rowe Price is not contesting the plan by Snap Inc. to issue non-voting shares in its impending initial public offering. We believe that our investment in Snap continues to be in our clients' best interests. We maintain a good relationship with Snap and its management team and look forward to further constructive conversations in the future. While we generally do not favor proposals that would create disproportionate voting rights, we evaluate each proposal on a case-by-case basis solely with the best interests of our clients in mind."
