Which of the Following Is Not True

Which of the following is not true?

A) Convertible preferred shares give the holder of preferred shares the right to convert the preferred shares into a specified number of common shares under certain specified conditions.
B) Convertible preferred shares require the holder of preferred shares to convert the preferred shares into a specified number of common shares under certain specified conditions.
C) Convertible preferred shares provide the security holders with the possibility of capital appreciation by converting the preferred shares into common shares if the market price of the common shares rises sufficiently.
D) Convertible preferred shares provide the security holders with a relatively assured dividend.
E) Convertible preferred shares provide the security holders with a claim that is senior to that of common shareholders.