Form 1120, Schedule K, Question 16

Question on the form: During this tax year, did the corporation have an 80%-or-more change in ownership, including a change due to redemption of its own stock?

 

Situation: A C-Corp was founded in 2020, and in the same year, 80% of total common stock were issued to a solo founder.

 

Question: Would that be seen as an Ownership change?