They are the directors! That easy to understand that shareholder are only used to support the efforts of a management to increase their salaries: If the shareprice rocks by little shareholders hyphesm directors sell high tons of shares. If the shareprice drops, directors receive shares cheaper than the market until they will be able to provide - again - by the hyphe of shareholders who buy at the markets.
Stockmakrt is a directors game mainly, and one can only prived by this game by getting in low and selling high - as the directors do. But for us it is much more difficult.
Just one thing I accept: If directors do efforts for progress and growth, they should get paid for this. The questions is only how much and in which way. Sometimes with shares, sometimes by salary.
But,however, do not forget 90% of the shareholder worldwide are losser, also by this facts above!