DEF Bank is composed of 11 Board of Directors. The total outstanding shares are 53,255 with a par value of 100. It's authorized capital stock is 10 million, 75% are common shares. All the preference shares are subscribed of which 70% are paid. All of the outstanding shares will vote, either personally or thru proxy. All other classes of shares are deprived of the right to vote except common shares. How many shares are needed to elect 4 directors?