Independent Director Share Acquisition

In the Philippines, an independent director can acquire shares through two main methods:
- Original Issuance: The corporation issues new shares, and the independent director acquires them by paying the par value.
- Assignment: The independent director buys existing shares from another shareholder, at a price agreed upon.
Let me know if you need more details about either process.

In the Philippines, there is no specific limit to the number of shares an independent director can acquire. However, to maintain independence, an independent director should not hold shares exceeding *% of the company’s total shares.
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In the Philippines, when an independent director is not re-elected, he is generally not obligated to return or transfer the shares to the corporation or a new independent director. The shares are his personal property.
Do you have any more questions on the responsibilities or rights of independent directors?

In the Philippines, when an independent director is not re-elected, they are not obligated to return the shares to the corporation or transfer them to a new independent director. The shares remain their property unless otherwise stipulated in an agreement.
Do you need information on the process of selling or transferring shares?