A second proxy received on an account. If the second proxy bears a more recent date than the first proxy, and has a different voting pattern, the second proxy will override the first.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A vote in a shareholder meeting that undoes a previous vote. That is, a shareholder who has, for example, voted for a merger may submit a duplicate proxy to vote against the same merger. When counting votes, the company counts the most recently dated duplicate proxy. This system allows an investor time for a sober second thought; however, he/she must make sure to submit the vote in time to be counted.
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