The holdings of institutional investors (pensions, mutual funds, and so-called “activist investors” with a lot of cash) far outstrip the shares issued to employ

The holdings of institutional investors (pensions, mutual funds, and so-called “activist investors” with a lot of cash) far outstrip the shares issued to employees as compensation. Plus, since it is seen as part of pay, many employees sell their holdings quickly. There’s no reason to suspect US companies would ever grant enough shares for employees to band together in this way. That would be anathema to management and board control of worker conditions and output. Regular employees are interested in the company’s shares insofar as the price is high, not as a means to influence company governance.