Preferred shares represent an ownership interest in a corporation and normally carry the right to receive dividends and the right to any remaining property on the wind-up of the corporation in priority to holders of common shares (see liquidation preference). Preferred shares can be convertible into common shares, nd redeemable at the option of the holder or the corporation. Although preferred shares do not normally carry the right to vote, preferred share classes in startup financing rounds (Series A, Series B, etc…) normally do carry the right to vote.