Voting Trust

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Related to Voting Trust: proxy, Voting trust certificate

Voting Trust

A type of agreement by which two or more individuals who own corporate stock that carries voting rights transfer their shares to another party for voting purposes, so as to control corporate affairs.

A voting trust is created by an agreement between a group of stockholders and the trustee to whom they transfer their voting rights or by a group of identical agreements between individual shareholders and a common trustee. Such agreements ordinarily provide that control of stock is given to the trustee for a term of years, for a time period contingent upon a certain event, or until the termination of the agreement. Voting trust agreements may provide that the stockholders can direct how the stock is to be voted.

voting trust

n. a trust which solicits vote proxies of shareholders of a corporation to elect a board directors and vote on other matters at a shareholders' meeting. A voting trust is usually operated by current directors to insure continued control, but occasionally a voting trust represents a person or group trying to gain control of the corporation. (See: corporation, shareholder, stockholder, proxy)

References in periodicals archive ?
In addition, this statute states that the voting trust "becomes effective on the date the first shares subject to the trust are registered in the trustee's name" (137).
It would be difficult to find a stronger list of names than that comprising the voting trust, it consisting of J.
Even a proxy agreement or voting trust does not preclude a foreign parent from seeking to influence its cleared U.
A voting trust is used when a business's founder has died and no successor has been named.
Wortman is suing Carvin for breach of fiduciary duty and breach of contract concerning the stock option agreement, employment agreement and voting trust.
When the error was recognized, the stock was transferred to a voting trust in which each beneficiary would be counted as a shareholder.
Upon the closing of the acquisition, G&W transferred the stock of P&W to a voting trust which will remain in effect until the US Surface Transportation Board (STB) approves G&W's control of P&W, which is anticipated to occur in the fourth quarter of 2016.
Surface Transportation Board's (STB) decision on its petition for a declaratory order confirming the viability of the proposed voting trust structure, an option CP has proposed as the fastest way for NS shareholders to receive consideration for their shares.
44) a share, proposing the set up of a new shareholder pact and voting trust covering 50.
A voting trust that includes those Stephens affiliates still controls more than 6.
2042-1 (c)(6), an individual will be treated as owning shares held by (1) him, (2) him and another person jointly or (3) the trustee of a voting trust or any other trust with respect to which the individual is treated as owner.
Given we have also asked the Surface Transportation Board for a declaratory order on the voting trust model we were pleased to hear that Norfolk Southern may now be willing to engage in direct face-to-face discussions.