There Are Three Seats Open on the Board of Directors

question 26

Multiple Choice

There are three seats open on the board of directors of ABC, Inc. Ann owns voting shares of ABC common stock. If ABC uses cumulative voting, the maximum number of shares that Ann can vote for any one position is equal to:

• A) The number of open seats.
• B) One-third of the number of shares owned.
• C) The number of shares owned.
• D) Three times the number of shares owned multiplied by the number of open seats.
• E) The number of seats open times the number of shares owned.

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Definitions:

Plant Decision

A decision regarding operations, management, or other strategic planning aspects in the context of a manufacturing or processing plant.

Personnel Used

The number and type of employees employed in a business or organization for its operation.

Total Number

The sum or aggregate count of units or elements in a set or group.

Ohio

A state located in the Midwestern region of the United States, known for its diverse geography from flat farmland to steep elevations at the Appalachian foothills.