Regular shareholder action requires majority of the shares present (some states say a majority of the shares voting) Fundamental changes require approval of majority shares outstanding Shareholders can vote by proxy Notice Quorum Notice Quorum Shareholders elect the directors Shareholders are the owners of the corporation. Shareholders invest equity in the corporation and share in the profits and losses through increased or decreased value of their shares or through distribution of dividends Shareholders act by voting at shareholder meetings. Shareholders elect the directors Shareholders approve or disapprove fundamental changes Shareholders