Definition of Treasury Stock:
Shares of stock of a corporation which were issued and later re-acquired by the corporation. This can occur several ways, including by repurchase by the company or if the shares were subject to vesting (i.e. risk of forfeiture) and the vesting conditions were not satisfied, which results in a forfeiture of the shares back to the company. Treasury stock is considered “issued, but not outstanding.”
Today’s Question — Saturday, March 20
Must the board of directors meet and hold meetings?
The corporate protections afforded by operating your business through an LLC or corporation are typically recognized by a court if certain corporate formalities are honored, including recognizing basic corporate governance matters, such as holding regular board of directors meetings, not commingling corporate funds with those of individual stockholders or other businesses, and holding stockholder meetings.
