most shareholders do not vote by proxy

Reason: Large corporations often have hundreds, thousands, or even millions of shareholders. For small shareholders, it is more convenient for them to assign someone else to vote their shares.

management prohibits small shareholders from attending the annual meeting

Reason: Large corporations often have hundreds, thousands, or even millions of shareholders. For small shareholders, it is more convenient for them to assign someone else to vote their shares. Management cannot prohibit any shareholders from attending the annual meeting.

most shareholders attend the annual meeting

Reason: Most shareholders do not attend the annual meeting because it is inconvenient and they have a fairly small stake in the decisions made.

most small shareholders do not attend the annual meeting