Class B Shares Vote

The board of directors has made a motion that we amend our articles of incorporation to increase the allowed amount of Class B shares from 1,100,000 to 5,000,000.

Voting will be open from Jan. 1 to 10, 2026. Owners can vote in stores at the customer service desk or here online starting Jan. 1.

What are B shares?

Lakewinds Class B shares are a type of ownership interest in the cooperative that are issued to member-owners based on how much they purchase from the cooperative.  Cooperative members “earn” shares through participation — that is, by purchasing groceries and goods. These Class B shares represent the equity portion of the patronage dividend that is retained by Lakewinds. These retained dollars are reinvested back into the co-op to ensure the future financial success of Lakewinds.

Why is this vote taking place now?

The last time this kind of vote was held was in 2013. Since then, thanks to our sales growth and number of new owners, our financial situation has outgrown the limits set in the articles of incorporation as they currently stand. A “yes” vote to increase Class B shares will allow the co-op to grow, invest in stores, and have a strong foundation for the future.

Official Amendment

Article V, Section 1 shall be replaced in its entirety with the following:

Article V. Capital Stock

Section 1.  The amount of authorized capital stock of this cooperative shall be five million two hundred thousand (5,200,000) shares and shall be divided into three classes.  Class A stock shall consist of one hundred thousand (100,000) shares of voting stock with a par value of ninety dollars ($90.00) per share. Class B stock shall consist of five million (5,000,000) shares of non-voting stock with a par value of ten dollars ($10.00) per share. Class C stock shall consist of one hundred thousand (100,000) shares of non-voting stock with a par value of one hundred dollars ($100.00) per share.

Read the current bylaws and articles of incorporation.