Disney's Unusually High Retail Ownership Makes Shareholder Vote a Popularity Contest

Disney has an unusually high percentage (up to 40%) of individual/retail investors who hold shares
These small shareholders are being bombarded with campaign materials urging them to vote certain ways
An activist investor, Nelson Peltz, is seeking 2 board seats, so every shareholder vote matters
On average, individuals own only 15% of public company shares, but Disney is widely known so more individuals invest
The text discusses how retail investors often don't feel comfortable investing in unknown companies, but know and relate to Disney