proxy

Proxy

Authorization, whether written or electronic, that shareholders' votes may be cast by others. Shareholders can and often do give management their proxies, delegating the right and responsibility to vote their shares as specified.

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proxy

The written authority to act or speak for another party. Proxies are sent to stockholders by corporate management in order to solicit authority to vote the stockholders' shares at the annual meetings.

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Proxy

1. In publicly-traded companies, the transfer of a right to vote to another individual or group of individuals. At the annual meeting, shareholders who are unable to attend may give proxy to other shareholders, the board of directors, or some other representative. The persons with proxy are usually expected to vote as the shareholder would wish. Most companies encourage shareholders to vote by proxy if they are unable to come to the annual meeting, as this gives decisions the greatest possible legitimacy.

2. A person who has proxy. See also: Proxy committee.

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Proxy. If you own common stock in a US corporation, you have the right to vote on certain company policies and elect the board of directors by casting a proxy, or vote.

You may vote in person at the annual meeting, by phone, or online.

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proxy

A person who stands in the place of another. (1) Normally used in the context of a shareholder granting permission for another shareholder or board member to vote his or her shares of stock. (2) In bankruptcy, creditors may give their proxies to other creditors, to the trustee, or to the debtor's attorney to vote for or against a plan of reorganization. (3) Marriage by proxy is still allowed in a very few states,in which someone stands in for the bride or the groom in the wedding ceremony,usually because one party is in the military service and deployed to a combat area.