Question
Suppose a firm has 50 million shares of common stock outstanding and eight candidates are up for election to six seats on the board of
Suppose a firm has 50 million shares of common stock outstanding and eight candidates are up for election to six seats on the board of directors. (LG 8-1)
| a. | If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election to the board? |
| b. | If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election to the board? |
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The Compensation Committee Handbook
Authors: James F. Reda, Stewart Reifler, Michael L. Stevens
4th Edition
1118370619, 978-1118370612
