| Who Will Own and Control It? | ||
FeeSimpleHosting, Inc. is a Delaware C corporation. Its organization, structure, bylaws, and the disposition of its common stock are fully set forth in the FeeSimpleHosting organizing documents which can be found elsewhere on this website. Nothing on this page should be construed as amending or interpreting those documents in any way. Briefly, the majority of FSH stock, more than 80% of it, will be given to participating title insurance underwriters at no cost. Shares will be apportioned among them according to their national market share. (In fact, the FSH proposal asks no one for money. The only cost to underwriters and local offices will be the cost of preparing themselves to use the facility.) Small blocks of common stock will be granted to members of the FSH Working Group and to others who were key and critical to the work of creating this novel and unique mission. Other shares will be part of the compensation packages of executives recruited to build and operate the FeeSimpleHosting facility. Other shares will be held in treasury. Dividends may be paid on FeeSimpleHosting shares at some point down the line when its debt is under control, its future is assured, and the company's board of directors so decides. Although shareholders will be free to sell their stock, title insurance underwriters are expected to prefer that it be kept within the industry and its insuring community. No significant market for shares is expected to come into being. As with all corporations, guidance and control of FeeSimpleHosting will be vested in its board of directors. Day to day management will be the province of its executive officers. No member of the FSH Working Group has expressed any interest in being an executive officer. |
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