ieko holds 50 out of 180 shares of Natural Gas, Inc. Natural Gas uses cumulative voting to elect directors. At the annual shareholder meeting, the shareholders must vote for 5 new directors. This means that a. Mieko has a total of 180 votes which has may cast all on one candidate or split them among several nominees. b. Mieko has a total of 250 votes which he may cast all on one candidate or split them among several nominees. c. Meiko has a total of 50 votes which he may cast all on one candidate or split them among several nominees. d. Mieko has a total

ieko holds 50 out of 180 shares of Natural Gas, Inc. Natural Gas uses cumulative voting to elect directors. At the annual shareholder meeting, the shareholders must vote for 5 new directors. This means that a. Mieko has a total of 180 votes which has may cast all on one candidate or split them among several nominees. b. Mieko has a total of 250 votes which he may cast all on one candidate or split them among several nominees. c. Meiko has a total of 50 votes which he may cast all on one candidate or split them among several nominees. d. Mieko has a total

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter7: Common Stock: Characteristics, Valuation, And Issuance

Section: Chapter Questions

Problem 15P

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Carl Hubbell owns 6,001 shares of the Piston Corp. There are 12 seats on the company board of directors, and the company has a total of 78,000 shares of stock outstanding. The Piston Corp. utilizes cumulative voting. Can Mr. Hubbell elect himself to the board when the vote to elect 12 directors is held next week? (Use Formula 17-2 to determine if he can elect one director.)
Highway 65, Incorporated, is going to elect Seven board members next month. Marisol owns 17.3 percent of the total shares outstanding. a. What percentage of stock is needed to have one of her friends elected under the cumulative voting rule? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What percentage of stock is needed to have one of her friends elected under the staggered cumulative voting rule, under which shareholders vote on One board member(s) at a time? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Percent of stock needed b. Percent of stock needed % %
You own 250 shares out of 1,500 shares outstanding. Your co-owner owns the other 1,250 shares. There are 4 directors being elected. Assuming cumulative voting, calculate the number of shares you need to own to elect at least one director to the Board.
Acme Corporation’s articles of incorporation require cumulative voting for the election of its directors. The board of directors of Acme Corporation consists of nine directors, each elected annually. a. Smith owns 24 percent of the outstanding shares of Acme Corporation. How many directors can he elect with his votes? b. If Acme Corporation were to classify its board into three classes, each consisting of three directors elected every three years, how many directors would Smith be able to elect?
Rho Corporation is electing three directors to its board using cumulative voting, and there are 1,000,000 shares outstanding. If you were a shareholder who wants to be elected to the board, how many Rho Corporation shares must you own to guarantee yourself a directorship seat on the board?
Highway 65, Incorporated, is going to elect Seven board members next month. Marisol owns 17.3 percent of the total shares outstanding. a. What percentage of stock is needed to have one of her friends elected under the cumulative voting rule? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What percentage of stock is needed to have one of her friends elected under the staggered cumulative voting rule, under which shareholders vote on One board member(s) at a time? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. 8.33% a. Percent of stock needed b. Percent of stock needed 50.00 %
If there are 10 directors to be elected and a shareholder owns 120 shares, calculate the maximum number of votes that he or she can cast for a favorite candidate under each of the voting methods.
Larry Nelson holds 1,000 shares of General Electric (GE) common stock. As a stockholder, he has the right to be involved in the election of its directors, who are responsible for managing the company and achieving the company's objectives. True or False: Larry will receive dividends together with preferred stockholders. O False O True Larry also holds 2,000 shares of common stock in a company that only has 20,000 shares outstanding. The company's stock currently is valued at $45.00 per share. The company needs to raise new capital to invest in production. The company is looking to issue 5,000 new shares at a price of $36.00 per share. Larry worries about the value of his investment. Larry's current investment in the company is investment will be worth This scenario is an example of If the company issues new shares and Larry makes no additional purchase, Larry's Larry could be protected if the firm's corporate charter includes a If Larry exercises the provisions in the corporate charter…
If there are 10 directors to be elected and a shareholder owns 120 shares, calculate the maximum number of votes that he or she can cast for a favorite candidate under each of the voting methods. Maximum Number of Votes a. Majority voting b. Cumulative voting
Larry Nelson holds 1,000 shares of General Electric (GE) common stock. As a stockholder, he has the right to be involved in the election of its directors, who are responsible for managing the company and achieving the company’s objectives. True or False: Larry will receive dividends after preferred stockholders. True False Larry also holds 2,000 shares of common stock in a company that only has 20,000 shares outstanding. The company’s stock currently is valued at $42.00 per share. The company needs to raise new capital to invest in production. The company is looking to issue 5,000 new shares at a price of $33.60 per share. Larry worries about the value of his investment. Larry’s current investment in the company is __$84,000 ,$33,600, $50,400 ,$92,400. If the company issues new shares and Larry makes no additional purchase, Larry’s investment will be worth __ $201,600 $84,000 $120,960 $80,640.
The Board of Directors of CYZ Corporation votes to issue two shares of stock for each share held as a stock dividend to shareholders. Just prior to the dividend, Cheryl owns 100 shares of CYZ Corporation stock that she purchased for $10 per share. She receives 200 new shares as a result of the dividend. How much gross income must Cheryl report as a result of the dividend and what is her stock basis after the dividend?
63. XYZ is a stock corporation that wishes to elect 15 directors. stockholder C, owns 5,000 shares of stock in XYZ corporation. Apply the formula used in the casting of votes to determine the amount of shares that stockholder C can cast during the election. * A. C is entitled to 5,000 shares. B. C is entitled to 75,000 shares C. C is entitled to 750,000 shares

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	a.	Mieko has a total of 180 votes which has may cast all on one candidate or split them among several nominees.
	b.	Mieko has a total of 250 votes which he may cast all on one candidate or split them among several nominees.
	c.	Meiko has a total of 50 votes which he may cast all on one candidate or split them among several nominees.
	d.	Mieko has a total of 200 votes which he may cast all on one candidate or split them among several nominees.