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The documentS–1Anthropic, PBC26 OCT 2026 · 421 PP.
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Table of Contents

Class F Common Stock Voting Mechanics

Under the terms of the Founder LLC Agreement, the manner in which our Class F common stock will be voted 
will be determined as follows:

Matter
General 
stockholder 
matters

Amendments to 
Class F rights

Amendments to 
LTBT / Class T 
rights

Written consent

Threshold(1)

Majority(2)

If threshold is met
Class F common stock 
is voted accordingly.

Otherwise
Class F common stock is voted 
proportionately with the votes 
of Class A common stock cast 
(subject to a quorum of a 
majority of outstanding Class A 
common stock).

Supermajority(3)(4)

Trust Amendment 
Supermajority(4)(5)

The applicable majority, 
Supermajority(3), or Trust 
Amendment Supermajority(5) 
if action were taken at a 
meeting.

Class F common stock 
is voted “for” the 
proposal.

Class F common stock is voted 
“against” (or “withhold” as to) 
such proposal.

Class F common stock 
is voted “for” the 
proposal.

Class F common stock is voted 
“against” (or “withhold” as to) 
such proposal. 

Consent is delivered 
with respect to our 
Class F common stock.

No consent is delivered with 
respect to our Class F common 
stock.

(3)

______________
(1) Each Continuing Founder will be entitled to one vote when determining how our Class F common stock will be voted.
(2)

If a majority of the Continuing Founders deliver the same instruction as to how the votes corresponding to our Class F common 
stock  shall  be  cast,  including  “for,”  “against,”  or  “withhold,”  but  excluding  an  instruction  to  “abstain,”  our  Class  F  common 
stock will be voted accordingly. If a majority of the Continuing Founders deliver instructions to “abstain” or do not deliver the 
same or any instructions, our Class F common stock will be voted proportionately with the votes of Class A common stock cast 
(subject to a quorum of a majority of outstanding Class A common stock).
“Supermajority” means the total number of Continuing Founders entitled to vote, minus one, delivers instructions to vote “for” 
the proposal. If there are fewer than three Continuing Founders, a Supermajority requires unanimity of Continuing Founders.
If a proposal requires both a Supermajority and a Trust Amendment Supermajority, both thresholds must be satisfied. 

(4)
(5) A  “Trust  Amendment  Supermajority”  will  be  satisfied  if  (i)  66  2/3%  of  the  Continuing  Founders,  rounded  up  to  the  nearest 
whole number, deliver instructions to vote “for” the proposal, and approval by 75% of the votes cast by our Class E common 
stock (subject to a quorum of a majority of outstanding Class E common stock) and a majority of the votes cast by our Class A 
common stock (subject to a quorum of a majority of the outstanding shares of Class A common stock) is also obtained or (ii) 
until the third anniversary of the completion of this offering, the Continuing Founders unanimously deliver instructions to vote 
“for” the proposal, and approval by a majority of the votes cast by our Class E common stock (subject to a quorum of 40% of the 
outstanding  Class  E  common  stock)  and  a  majority  of  the  votes  cast  by  our  outstanding  Class  A  common  stock  (subject  to  a 
quorum  of  a  majority  of  outstanding  shares  of  Class  A  common  stock)  is  also  obtained.  Pursuant  to  the  Stockholders’ 
Agreement,  the  Founder  LLC  will  also  vote  or  consent  the  share  of  Class  F  common  stock  in  favor  of  amendments  that  are 
approved  by  80%  of  the  authorized  members  of  our  board  of  directors  and  80%  of  the  Trustees  then  in  office  (in  each  case, 
rounded up or down to the nearest whole number (any exact 0.5 rounding up)).

Transfer Agent and Registrar 

Upon  the  completion  of  this  offering,  the  transfer  agent  and  registrar  for  our  Class  A  common  stock  will  be 
Computershare Trust Company, N.A. The transfer agent’s address is 150 Royall Street, Canton, MA 02021.

Limitations of Liability and Indemnification 

See  the  section  titled  “Certain  Relationships  and  Related  Person  Transactions—Limitation  of  Liability  and 
Indemnification of Officers and Directors.” 

Listing 

We have applied to list our Class A common stock on the Nasdaq Global Select Market under the symbol “ANT.”

306

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Find a section 16 starting points

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  1. Founders’ letterp. 3SEC
  2. Defined termsp. 12SEC
  3. Prospectus summaryp. 16SEC
  4. Risk factorsp. 38SEC
  5. Management’s discussion & analysisp. 144SEC
  6. Businessp. 190SEC
  7. Governancep. 254SEC
  8. Executive compensationp. 275SEC
  9. Related-person transactionsp. 293SEC
  10. Principal & selling stockholdersp. 299SEC
  11. Capital-stock rightsp. 303SEC
  12. Shares eligible for future salep. 318SEC
  13. Underwritingp. 327SEC
  14. Auditor change & expertsp. 345SEC
  15. Financial statements & notesp. 347SEC
  16. Part II & exhibit indexp. 413SEC

How this was made

Read in full.
Kept in context.

A snapshot of the filing dated , rather than a live record of later events.

3primary reviewers
421pages reviewed
43image instances checked

The review

Three primary reviewers read non-overlapping ranges of the complete main filing. All 43 embedded image instances were transcribed and visually reviewed, including the founders’ letter, charts, and customer case studies. Financial tables were also checked visually for dates, units, and column alignment.

A separate reviewer checked the draft’s calculations, accounting interpretations, and customer qualifications. An additional check covered the later merged findings. The result is 62 findings and 21 customer examples.

The boundary

Companion contracts and other exhibits named in the filing’s index are separate documents and were not independently reviewed. Customer outcomes, technical benchmarks, forecasts, and scientific priority claims remain attributed company or customer disclosures.

The numbers

Dollar figures are U.S. dollars. H1 means the six months ended June 30; Q2 means the three months ended June 30. The 2026 interim financial statements are unaudited. Our calculations show their inputs and are labeled separately from reported values.

Blank fields stay undisclosed. Figures with different periods, conditions, or potentially overlapping scopes are kept separate. An earlier tender price is not an IPO price.

What the evidence labels mean
Reported in filing
A company disclosure, with the period and accounting basis retained.
Company estimate / company claim
An estimate or assertion attributed to the company, with its uncertainty preserved.
Our calculation
A derived figure using cited inputs. It is not a separately reported company metric.
Customer example
A selected case study, with its measurement limits. It is not representative ROI.
Proposed / conditional
A status qualifier for an arrangement that is not yet effective or depends on stated conditions.

About updates. This edition is tied to the October 26, 2026 filing. Any later revision should identify its new source date and preserve the basis of earlier claims.

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Anthropic · Form S-1PDF 1

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Filed October 26, 2026. PDF is approximately 46 MB and opens only when requested. Section links may precede the exact cited paragraph.