If you own convertible preferred stock,what right does the convertibility feature give you?

Question

Quizplus · Accepted Answer

The convertibility feature of convertible preferred stock allows the holder to convert their shares into a predetermined number of the company's common shares at any time before the maturity date. This gives the holder the option to convert if they believe the common stock is likely to provide a better return in the future.

If You Own Convertible Preferred Stock,what Right Does the Convertibility