Wake North Carolina Proposed Amendment to create a class of Common Stock that has 1-20th vote per share

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• County: Wake
• Control #: US-CC-3-189X
• Format: Word; Rich Text

Description

This sample form, a detailed Proposed Amendment to Create a Class of Common Stock That Has 1/20th Vote Per Share document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Wake North Carolina Proposed Amendment aims to introduce a new class of Common Stock that assigns a 1-20th vote per share. This means that for every share of this class, the holder would possess a voting power equivalent to one-twentieth of a regular Common Stock share. By implementing this amendment, Wake North Carolina seeks to address certain equity and governance issues within the stock market. Introducing a tiered voting system, the Wake North Carolina Proposed Amendment offers several types of Common Stock with 1-20th vote per share, each catering to different needs and scenarios. These different types include: 1. Class A Common Stock: This class represents the traditional form of Common Stock, where each share carries one full vote in company matters. 2. Class B Common Stock: The proposed amendment creates this class to offer a 1-20th voting power per share. Shareholders with Class B Common Stock would have slightly reduced voting rights compared to Class A Common Stockholders. 3. Class C Common Stock: Another variation included in the amendment, Class C Common Stock grants 1-20th voting rights per share. Shareholders in this class hold the same voting power as those with Class B Common Stock. 4. Class D Common Stock: This class is further established to provide yet another option for investors seeking Common Stock with a 1-20th vote per share. Class D Common Stockholders would also have one-twentieth the voting power compared to Class A Common Stockholders. With the introduction of these distinct classes, the Wake North Carolina Proposed Amendment aims to provide more flexibility in stock ownership, accommodating shareholders who may desire functional differences in voting rights. It aims to strike a balance between shareholder control and attracting investment by offering various types of Common Stock with differing levels of voting power.

The Wake North Carolina Proposed Amendment aims to introduce a new class of Common Stock that assigns a 1-20th vote per share. This means that for every share of this class, the holder would possess a voting power equivalent to one-twentieth of a regular Common Stock share. By implementing this amendment, Wake North Carolina seeks to address certain equity and governance issues within the stock market. Introducing a tiered voting system, the Wake North Carolina Proposed Amendment offers several types of Common Stock with 1-20th vote per share, each catering to different needs and scenarios. These different types include: 1. Class A Common Stock: This class represents the traditional form of Common Stock, where each share carries one full vote in company matters. 2. Class B Common Stock: The proposed amendment creates this class to offer a 1-20th voting power per share. Shareholders with Class B Common Stock would have slightly reduced voting rights compared to Class A Common Stockholders. 3. Class C Common Stock: Another variation included in the amendment, Class C Common Stock grants 1-20th voting rights per share. Shareholders in this class hold the same voting power as those with Class B Common Stock. 4. Class D Common Stock: This class is further established to provide yet another option for investors seeking Common Stock with a 1-20th vote per share. Class D Common Stockholders would also have one-twentieth the voting power compared to Class A Common Stockholders. With the introduction of these distinct classes, the Wake North Carolina Proposed Amendment aims to provide more flexibility in stock ownership, accommodating shareholders who may desire functional differences in voting rights. It aims to strike a balance between shareholder control and attracting investment by offering various types of Common Stock with differing levels of voting power.