Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Equity | 10. EQUITY The Company completed the Corporate Conversion on April 28, 2026 pursuant to which Pershing Square Holdco, L.P. converted into Pershing Square Inc., a Nevada corporation. Additional information regarding the Corporate Conversion and related transactions is included in Note 1. Authorized Capital Stock Pursuant to the Company's Articles of Incorporation, the Company is authorized to issue: 1,000,000,000 shares of common stock, par value $0.001 per share; and 100,000,000 shares of preferred stock, par value $0.001 per share. As of June 30, 2026, 400,000,000 shares of common stock and one special voting share, which is classified as preferred stock, were issued and outstanding. No other shares of preferred stock were issued and outstanding. The Board of Directors is authorized, subject to applicable law and the Company's organizational documents, to establish one or more series of preferred stock and determine the rights, preferences and privileges associated with such series. Special Voting Share Upon completion of the Corporate Conversion, the non-economic interest previously held by Holdco GP was converted into one special voting share of PS Inc., which is currently held by ManagementCo. The special voting share has only voting power (which will in no event be less than one vote) equal to that number of votes required, when taken together with the aggregate voting power of the shares of the Company’s common stock over which ManagementCo then has voting power, to give ManagementCo a majority of the aggregate voting power of the special voting share and the then-outstanding shares of the Company’s common stock. The special voting share does not participate in dividends or other economic distributions and does not share in the Company's earnings or losses, and is not considered a participating security under ASC 260, Earnings Per Share. The existence of the special voting share therefore has no effect on the Company's calculation of basic or diluted earnings per share. Accordingly, the special voting share would have no impact for as long as ManagementCo continues to hold a majority of the Company’s common stock, but, in the event this were no longer the case, would protect the Company from change of control events, such as the risk that changes in the ownership of the Company’s voting securities could be deemed to have resulted in an “assignment” of PSCM’s investment management agreements under the Investment Company Act of 1940 or the Investment Advisers Act of 1940, as amended, or a “change of control” under the indentures governing PSH’s senior notes. Dividends The Company did not declare any dividends during the three and six months ended June 30, 2026. |