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SIRI » Topics » What are the voting rights of the holders of our common stock and our preferred stock?This excerpt taken from the SIRI DEF 14A filed Apr 30, 2009. What are
the voting rights of the holders of our common stock and our
preferred stock?
Each holder of our common stock is entitled to one vote per
common share on all matters to be acted upon at the annual
meeting and the holder of our Series A Convertible
Preferred Stock is entitled to 1/5 of a vote per share of our
Series A Convertible Preferred Stock on all matters to be
acted upon at the annual meeting. Holders of our common stock
shall also vote separately as a class to approve each amendment
to our certificate of incorporation.
The holder of our
Series B-1
Preferred Stock does not have the right to vote with the holders
of our common stock and our Series A Convertible Preferred
Stock to elect the Common Stock Directors at the annual meeting.
On all other matters submitted to a vote of the holders of our
common stock, the holder of our
Series B-1
Preferred Stock is entitled to slightly less than 207 votes per
share of
Series B-1
Preferred Stock, voting together with the holders of our common
stock and Series A Convertible Preferred Stock as a single
class. On the record date, 3,856,414,132 shares of our
common stock were outstanding. In addition,
24,808,959 shares of our Series A Convertible
Preferred Stock, representing aggregate voting power of
4,961,792 shares of common stock, and
12,500,000 shares of our
Series B-1
Preferred Stock, representing aggregate voting power of
2,586,976,762 shares of common stock, are outstanding.
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