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LSDefine

Simple English definitions for legal terms

staggered board of directors

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A quick definition of staggered board of directors:

A staggered board of directors is a group of people who are elected to make important decisions for a company or organization. Their terms of service overlap, so only some members are voted on in each election. This means that not all members of the board change at the same time. Some members serve for two or more years, and their terms expire at different times. This type of board is also called a classified board of directors.

A more thorough explanation:

A staggered board of directors is a type of board of directors where the members' terms of service overlap so that only part of the board's makeup is voted on in any single election. This means that not all members of the board are up for election at the same time.

For example, let's say a company has a board of directors with nine members. If the board is staggered, three members might be up for election every year, with each member serving a three-year term. This means that only one-third of the board is up for election each year.

Staggered boards are often used by companies to provide stability and continuity in their leadership. By having only a portion of the board up for election each year, the company can ensure that there is always some level of experience and institutional knowledge on the board.

However, staggered boards can also make it more difficult for shareholders to make changes to the board. If a shareholder wants to replace a majority of the board, they may have to wait several years to do so.

Overall, staggered boards are just one way that companies can structure their boards of directors. The decision to use a staggered board or not will depend on the specific needs and goals of the company.

stacking | stagiarius

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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