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Cumulative Voting
Cumulative voting is a type of voting process that helps strengthen the ability of minority shareholders
to elect a director. This method allows shareholders to cast all of their votes for a single nominee for the
board of directors when the company has multiple openings on its board. In contrast, in "regular" or
"statutory" voting, shareholders may not give more than one vote per share to any single nominee. For example,
if the election is for four directors and you hold 500 shares (with one vote per share), under the regular method
you could vote a maximum of 500 shares for any one candidate (giving you 2,000 votes total - 500 votes per each
of the four candidates). With cumulative voting, you could choose to vote all 2,000 votes for one candidate,
1,000 each to two candidates, or otherwise divide your votes whichever way you wanted.
http://www.sec.gov/answers/cumulativevote.htm
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