A staggered board of directors consists of directors who are grouped into classes – Class 1, Class 2, Class 3, etc. Each class holds a certain percentage of the total number of positions. During elections, only one class is open, hence the name –“staggered” board. A staggered board i...
Information oncorporate governancepolicies and board composition can be found in a public company's prospectus andproxy statement. A company’s board policies are typically created at the time of incorporation and are included in their bylaws. Usually,company board policieswill require a shareholder vo...
The initial varied terms will create a staggered term structure; thereafter the chair and two (2) members-at-large shall be elected in the even-numbered years to serve a term of two (2) years or until their successors are elected. What do the bylaws changes mean for you? in Massachusetts...