65. XYZ is a stock corporation that wishes to elect 12 directors. Stockholder C, owns 10,000 shares out of 50,000 outstanding shares of XYZ corporation. Now, Stockholder C intends to know whether his shares of stocks are enough to secure the two slots of his desired directors to run said corporation. Is the shares of stocks owned by Stockholder C sufficient? A. Yes. Since Stockholder C own 10,000 shares out of the 50,000 outstanding shares of XYZ Corporation. Therefore, he can cast 5,000 shares each to his two desired directors to form part of XYZ's Board of Directors. B.No. Since Stockholder C owns 10,000 shares out of the 50,000 outstanding shares of XYZ Corporation, his share is insufficient to secure two slots of his desired directors. Hence, with the shares of stock he owns, he may only secure one slot in the Board of Directors to run XYZ Corporation.
65. XYZ is a stock corporation that wishes to elect 12 directors. Stockholder C, owns 10,000 shares out of 50,000 outstanding shares of XYZ corporation. Now, Stockholder C intends to know whether his shares of stocks are enough to secure the two slots of his desired directors to run said corporation. Is the shares of stocks owned by Stockholder C sufficient?
A. Yes. Since Stockholder C own 10,000 shares out of the 50,000 outstanding shares of XYZ Corporation. Therefore, he can cast 5,000 shares each to his two desired directors to form part of XYZ's Board of Directors.
B.No. Since Stockholder C owns 10,000 shares out of the 50,000 outstanding shares of XYZ Corporation, his share is insufficient to secure two slots of his desired directors. Hence, with the shares of stock he owns, he may only secure one slot in the Board of Directors to run XYZ Corporation.
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