Shareholders of record is a misleading figure. That only accounts for those who have the (physical) certificate in their name. 98% of shareholders have their equity in brokers accounts. That's why you never get notice of meetings, voting, and other proxy stuff in the mail. Did anyone on here get a notice of the shareholders meeting yesterday? The exception to all of this I believe is when a company offers dividends (cash or stock equity etc.). They route the dividend to the broker, and the broker passes it along to our accounts. I woundn't be suprised if PSPW has 1000+ shareholders.