Adam, Fred, Marc and Greg are among the shareholders of the same corporation, where they are also employed. Adam holds $25\%$ of the total shares, Fred holds $15\%,$ Greg holds $10\%$ and Marc holds $8\%.$ Which of the shareholders are "connected individuals" for purposes of pension planning?

Question $26$ options:

Adam and Fred

All of them

Adam, Fred, and Marc only

Adam, Fred, and Greg only