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During each election term only one class is open to elections, thereby staggering the board directorship.
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Open itbers are grouped into classes; for example, Class 1, Class 2, Class 3, etc. Each class represents a certain percentage of the total number of board positions. For example, a class is commonly comprised on one-third of the total board members. <span>During each election term only one class is open to elections, thereby staggering the board directorship.
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Staggered Board [imagelink]
DEFINITION of '<span>Staggered Board'
A staggered board consists of a board of directors whose members are grouped into classes; for example, Class 1, Class 2, Class 3, etc. Each class represents a certain percentage of the total number of board positions. For example, a class is commonly comprised on one-third of the total board members. During each election term only one class is open to elections, thereby staggering the board directorship.
BREAKING DOWN 'Staggered Board'
A staggered board is also known as a classified board because of the different "classes" involved. A Summary
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