Trading of shareholder votes is the practice of exchanging one's shareholder votes in corporate elections for cash or other forms of payment. Trades may involve multiple shareholders with varying interests in corporate matters, but may be of particular value to activist investors or a company's board of directors.
Several high-profile cases of vote trading have occurred in the United States, most notably Hewlett v. Hewlett-Packard Company[1] in April 2002. In writing the ruling for that case, Chancellor William B. Chandler III of the Delaware Court of Chancery noted, "Shareholders are free to do whatever they want with their votes, including selling them to the highest bidder." Shareholder votes may be considered fundamentally different from political votes in the sense that political votes are often guaranteed as inalienable rights, while no such condition applies to shareholder votes. Similar to trading votes, proxy voting is when a voter appoints another person to vote on their behalf, the difference being whether an explicit economic value transaction accompanies the appointment or not.
Tradingofshareholdervotes is the practice of exchanging one's shareholdervotes in corporate elections for cash or other forms of payment. Trades may...
A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation...
Shareholder activism is a form of activism in which shareholders use equity stakes in a corporation to put pressure on its management. A fairly small stake...
so votetrading is very often informal and thus not binding. One form ofvotetrading that is formal is one that involves the tradingof proxy voting rights...
number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidation of assets...
A shareholder nomination to the AGM committee SNAC sometimes called a 'Shareholder Committee') is a voluntary committee formed with the Chairman of the...
additional ports as trading bases and safeguarded their interests by taking over surrounding territory. It remained an important trading concern and paid...
shareholders the ability to, remove the board of directors with a simple majority ofvotes change the company constitution with a three quarter vote (unless...
securities of a publicly traded company are owned by many investors while the shares of a privately held company are owned by relatively few shareholders. A company...
requiring the majority shareholder(s) to buy out the disappointed minority shareholder at a fair value. Insider trading is the tradingof a corporation's stock...
allow them to submit and vote on proposals to amend the bylaws or to mandate actions by the board. Pre-emption rights and shareholder rights plans regulate...
identification and nomination of directors (that shareholdersvote for or against) are often done by the board itself, leading to a high degree of self-perpetuation...
commonly advise institutional shareholders on how they should vote. Proxy solicitation firms assist in helping corral votes for a certain resolution. Domini...
provides services to shareholders (in most cases an institutional investor of some type) to vote their shares at shareholder meetings of, usually, listed...
stock-market trading led to greater need for such intermediaries, and the need for shareholders to vote by proxy via the intermediaries instead of directly...
to buy and sell votes, or to tradevotes. Using this anonymous ballot system provides identity protection from vote buying or trading, since these exchanges...
still lower than the trading price of Towers Watson shares at the time of the announcement. The deal also gave Willis Group shareholders more control despite...
conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders, and can permit the ownership and control of a number...
in their trading book, and holding less than 10% of the total amount ofvoting rights issued. Issuers are obliged to treat those shareholders equally,...
regulate shareholdervoting rights "proportionately". Today, many corporations have unequal shareholdervoting rights, up to a limit of ten votes per share...
Federation of Exchanges. On 18 March it was announced that trading in OFZ bonds should be resumed on 21 March. On 23 March, it was announced that tradingof 33...
agreements with other Class B shareholders, he also controls the votesof 32 other million Class B shares. This gives him control of about 392 million Class...
in turn held 100% of the old Porsche AG) and currently is the major shareholder in Volkswagen AG (31.3%) and holds the majority voting rights (53.1%). At...
by a company of its own shares. It represents an alternate and more flexible way (relative to dividends) of returning money to shareholders. When used in...
picked up stock trading in 2019 and amassed a fortune through his position in Tesla. He is the company's third largest individual shareholder, behind Elon...
Global Information