According to the Internal Revenue Service, five or fewer shareholders have to own at least 50 percent of a company鈥檚 stock for it to be considered a 鈥渃losely held鈥 company 鈥 the distinction for religious exemption made by the Supreme Court ruling.

Charles Dharapak/AP/File
David Green, founder and chief executive officer of Hobby Lobby, walks with his wife Barbara (c.) and members of their family as they acknowledge a cheer from demonstrators in the crowd as they descend the steps of the Supreme Court in Washington in March, after the court heard oral arguments in their case.