Which of the following best describes the key difference between a shareholder and debenture holder?

1. Upon liquidation, the shareholder will receive a share of the company's assets depending on the terms of issue of shares, whereas the debenture holder ranks ahead of the shareholders.
2. The shareholder is a member of the company with voting rights, whereas the debenture holder is a company creditor without voting rights.
3. The shareholder risks the entire value of the shareholding, whereas the debenture holder will not risk the contribution paid to the company.
4. The shareholder will receive a mandatory sum of dividends payable out of capital, whereas the debenture holder will receive interest on the loan payable out of capital.