Asked by Esmeralda Pimentel on Jun 04, 2024
Verified
Karen is attending the annual general meeting of shareholders of Express Corporation.Six directors are going to be elected from seventeen nominees during the meeting through straight voting.Karen owns 372 shares of Express.What is the maximum number of nominees Karen can vote for?
A) 1
B) 6
C) 10
D) 17
Straight Voting
A method of voting in corporate elections where shareholders must assign all of their votes to one candidate for each vacancy.
Annual General Meeting
A mandatory yearly gathering of a company's interested shareholders to discuss company affairs.
Nominees
Individuals appointed or proposed to act on behalf of others in specific roles or to fulfill certain duties.
- Acquire knowledge of the diverse voting entitlements and approaches in corporate governance, which include cumulative and straight voting.
Verified Answer
ZK
Zybrea KnightJun 05, 2024
Final Answer :
B
Explanation :
Normally,directors are elected by a single class of shareholders in straight voting,in which each share has one vote for each new director to be elected.Since six directors are to be elected from seventeen nominees through straight voting,Karen can vote for a maximum of six nominees.
Learning Objectives
- Acquire knowledge of the diverse voting entitlements and approaches in corporate governance, which include cumulative and straight voting.