June 24, 2023
Allowing derivatives owners to vote without owning the underling stock is disastrous. Buying an option linking 100 shares is most of the time cheaper than buying 100 shares themselves. The derivative owner technically doesn't own the shares until it's exercised. There can too many uncovered derivatives liable for more than the total amount of shares exist for a company. It severely skew supply and demand.
Whoever wanting this to happen is either a criminal or his accomplice.