Significant for what, to order it around and tell it who to hire for which time slots?
Significant in that they have a greater say in the company across the board. Significant in that the SEC requires anyone with great than 5% ownership of voting shares to register within 90 days of reaching or surpassing that threshold. Significant in that many corporate raiders have had less than 7% and have taken control of corporations or “blackmailed” corporations for financial or political or ideological influence.