All-Holders Rule

No, all-holders do not rule the planet (though we hear all hosers rule Canada). Rather, the all holders rule refers to a Securities and Exchange Commission (SEC) regulation that says publicly traded companies must offer new issues of stock or other securities to all current shareholders "of the same class." Don't rush to the barricades we'll explain.

So if the company wants to issue more Class B shares, it has to allow all current Class B shareholders to participate. And if the company wants to buy back any Class B shares, it has to allow current Class B shareholders to sell their shares back. If you only have Class A shares, you are out of luck. The term also refers to another SEC rule that says a tender offer to buy another company must include all the target company's shareholders.