Voting Trust


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Related to Voting Trust: proxy, Voting trust certificate

Voting Trust

A trust that common shareholders create in order to combine their votes at the annual meeting. Each shareholder transfers his/her voting rights to the trust, while retaining title to the dividends and other rights associated with the stock. The voting trust receives legal title to the common stock and issues voting trust certificates, representing the other rights of common stock, to shareholders. The voting trust uses these shares to vote as a block. This gives participating shareholders a degree of control over the company that they would not otherwise have. Typically, a voting trust can only exist for a certain period of time, depending on the laws of the state in which the company is incorporated.
References in periodicals archive ?
Rather, having been confronted with much misinformation about how the STB is likely to review the proposed voting trust and merger, we feel compelled to correct the record.
Even a proxy agreement or voting trust does not preclude a foreign parent from seeking to influence its cleared U.
In addition to individuals and estates, under current law only four types of trusts are permissible S corporation shareholders: QSSTs, grantor trusts, Internal Revenue Code section 678 trusts and voting trusts.
Contrary to Canadian Pacific's claims, a voting trust under which a transaction would close prior to final STB approval of the merger would not protect Norfolk Southern shareholders from regulatory uncertainty.
Upon advice of counsel, NIC submitted a written request for interpretive guidance to the SEC as to whether or not the shares distributed from the voting trust are prohibited from trading for six months after the date of the trust dissolution under Rule 144.
NIC officers and directors who were members of the voting trust include:
Karen Seaberg is only one of three Voting Trustees of the Cray Family Voting Trust that owns 76% of the outstanding Preferred Stock, which class controls the election of a majority of the directors.
Claude Lessard acting as Voting Trustee under the Shareholders' and Voting Trust Agreement.
From past rulings, it is clear that voting trusts and revocable living trusts qualify, while individual retirement accounts (IRAs) do not.
Steve Pappas will sell or dispose of his Company shares only in the open market; (d) that the date of termination of the voting trust created by Mr.
shareholders maintained ownership of all voting trust units distributed, including the Wyndham Voting Trust units.