Actually, there is. If you loan your shares to someone who shorts (i.e. sells them to someone else), the person who purchased the shares that you loaned out is the owner of record and can vote. You no longer own those shares because you loaned them out, therefore you have no shares to vote until the person you loaned them to purchases them back and returns them. Otherwise those shares would be worth two votes each; to you and the person who purchased them.

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There is absolutely no ambiguity here.

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