Corporate form of business Firms must issue common stock andmay issue preferred stock. Suppose that stockholders are electing a board of directors for a corporation with 6 members. Suppose that an investor with 100 shares can use, at most, 100 shares to vote for any given seat. This voting method most closely resembles a voting system. Suppose that a firm has 500 shares outstanding. You own 10.00% of this firms stock and the firm wants to sell 100. If you have preemptive rights, you would have the right to purchase of these shares