Explanation:

- Option 1: bowed

- "Bowed" is the past tense of "bow" and refers to bending the upper part of the body forward as a gesture of respect or greeting. It does not logically complete the sentence about directors making a decision.

- Option 2: braid

- "Braid" is a method of interweaving three or more strands of material to create a decorative band. It is unrelated to decision-making or a group of directors.

- Option 3: bored

- "Bored" is an adjective describing a state of feeling weary or uninterested. It doesn’t fit the context of determining a penalty.

- Option 4: board

- "Board" refers to a group of people who manage and make decisions for an organization—like the "board of directors." This phrase correctly describes who would decide on a penalty.