Question

If six directors are to be elected under statutory voting, a stockholder owning 100 shares of stock could cast:

1. 100 votes for each director, 2. 600 votes to one director, 3. 600 votes spread among six directors in any manner chosen

a. 1
b. 2
c. 1 or 2
d. 1, 2, or 3

Answer 1

In a statutory voting system, a stockholder can cast their votes in any manner they choose among the candidates. The correct option is (d).

Step-by-step explanation:

In a statutory voting system, each shareholder is given one vote per share they own, and they can distribute their votes in any manner they choose among the candidates.

So, in this case, the stockholder owning 100 shares of stock could cast 100 votes for each director (option 1) or 600 votes to one director (option 2), or they could spread their 600 votes among the six directors in any manner they choose (option 3). Therefore, the correct answer is option d. 1, 2, or 3.