McGregor, Inc. will elect eight board members next month. The company has 50,000 shares outstanding and you have 6,000 of these shares.

1. a. What percentage of stock do you need to elect a director under a flat voting plan? How many additional shares do you need to purchase to meet the requirement?
2. b. What percentage of your shares do you need to elect a director according to the cumulative voting scheme? How many additional shares do you need to purchase to meet the requirement?

Answer rating: 100% (QA)

a Under a flat voting plan each share is entitled to one vote and the candidates with the highest number of votes up to the number of board members to be elected will be elected To calculate the perce... View the full answer