You want a seat on the board of directors of Four Keys Inc T

You want a seat on the board of directors of Four Keys, Inc. The company has 290,000 shares of stock outstanding and the stock sells for $49 per share. There are currently 5 seats up for election. The company uses straight voting. How many shares do you need to guarantee that you will be elected to the board?

96,668 shares

48,334 shares

58,000 shares

130,501 shares

145,001 shares

Solution

Straight voting means one shareholder will have one vote.

So to get a seat among 5 seats ,

I should have Outstanding shares/5

= 290000/5

= 58000