QUALIFIED 423(B) PLAN
An Employee Stock Purchase Plan that is based upon the length of time the shares were held prior to being sold. This plan provides special tax treatment to employers that offer this type of plan.
QUALIFIED INSTITUTIONAL BUYER (QIB)
Institutions that manage at least $100 million in securities which include banks, savings and loans institutions, insurance companies, investment companies, employee benefit plans, or an entity owned entirely by qualified investors. Also included are registered broker-dealers owning and investing, on a discretionary basis, $10 million in securities of non-affiliates.
A quorum refers to the minimum acceptable level of individuals with a vested interest in a company needed to make the proceedings of a meeting valid under the corporate charter. This clause or general agreement ensures there is sufficient representation present at meetings before any changes can be made by the board. A quorum is normally comprised of a group that is considered as large as possible to be depended on to attend all corporate meetings, which is a qualitative assessment.
The price being bid (by a prospective buyer) or offered (by a potential seller) for a security. It usually refers to the highest bid and lowest asked (offered) price currently available on a security.