According to Yandex, the co-founder and CEO of the Yandex group of companies Arkady Volozh entered into an agreement with the company obliging him and the family trust not to sell or transfer Class B shares in Yandex for another two years - until December 31, 2023. According to the company's explanation on this matter, the ongoing blocking on the sale of these shares "will clarify this issue for the market and ensure the continuity of Yandex in the coming years."
In this case, we are talking about the extension of the agreement between Volozh and Yandex, which was concluded in December 2019 for 2 years.
Yandex co-founder Arkady Volozh owns 30.8 million shares of a class B company. One share Class B will be converted into ten Class A shares. The combined share of Arkady Volozh and his family trust is 8.7% and provides 45.5% of the vote.
Class A Yandex shares on the NASDAQ exchange are traded at $ 68 per share.
At the end of 2018, Arkady Volozh refused to sell his stake in Yandex to Sber. Then the co-founder of the company explained that he supports the efforts of the board of directors for the development of the company, including the assessment of various options for managing the capital structure.

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