Dr. Phil wishes to know how many shares are necessary to elect 9 directors out of...
Dr. Phil wishes to know how many shares are necessary to elect 9 directors out of 17 directors up for election for the board of the Winfrey Publishing Company. There are 310,000 shares outstanding. (Do not round intermediate calculations.)
Homework Answers
Number of shares needed = [(Number of directors desired × Total number of shares outstanding) / (Total number of directors to be elected + 1)] + 1
Number of shares needed = [(9 × 310,000) / (17 + 1)] + 1
Number of shares needed = 155,001 shares
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Dr. Phil wishes to know how many shares are necessary to elect 9
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