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    Stock Voting Shares for Hilton: guarantee a seat on the BOD

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    Hilton has 220,000 shares of stock outstanding with a current market value of $34 a share. I own 40,000 of these shares.

    Next month, the election will be held to select three new members to the board of directors. The firm uses a cumulative voting system.

    How much additional money do I need to spend to guarantee that I will be elected to the board assuming that everyone else votes for one of the other candidates?

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    The number of shares required ...

    Solution Summary

    Answers a conceptual question on Stock Voting Shares.