What must a dissenting shareholder do to perfect their right of appraisal?

To perfect their right of appraisal, a dissenting shareholder is required to file a written notice of objection before the vote on the proposed corporate action that they oppose. This notice serves as formal communication to the corporation of the shareholder's dissatisfaction with the action and intent to dissent. By doing this, the shareholder preserves the right to seek a judicial appraisal of their shares' value if the action proceeds.

This process is crucial because it establishes a record of dissent and protects the shareholder's right to compensation based on fair value, as opposed to potentially receiving less favorable terms. The act of filing the notice is a key procedural step that must occur before the shareholder can invoke their appraisal rights effectively.

Other options, such as supporting the proposed change or remaining silent, do not meet the requirements for perfecting appraisal rights and would negate the shareholder's ability to seek a fair valuation of their shares later on.