Proxy statement

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Proxy statement

Document intended to provide shareholders with information necessary to vote in an informed manner on matters to be brought up at a stockholders' meeting. Includes information on closely held shares. Information required by the SEC that must be provided to shareholders who wish to vote for directors and on other company decisions by proxy.

Proxy Statement

In publicly-traded companies, a statement indicating 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.

proxy statement

The material accompanying solicitation of a proxy from stockholders. The proxy statement lists the items to be voted on including nominees for directorships, the auditing firm recommended by directors, the salaries of top officers and directors, and resolutions submitted by management and stockholders. Proxy statements are required by the SEC.

Proxy statement.

The Securities and Exchange Commission (SEC) requires that all publicly traded companies provide a proxy statement to their shareholders prior to the annual meeting.

The proxy statement presents the candidates who have been nominated to the board of directors and any proposed changes in corporate management that require shareholder approval.

The statement also states the position the board of directors takes on the nominations and proposals. By law, the proxy statement must also present shareholder proposals even if they are at odds with the board's position.

SEC rules also require that the proxy statement shows, in chart form, the total compensation of the company's five highest paid executives and compares the stock's performance to the performance of similar companies and the appropriate benchmark.

References in periodicals archive ?
BANKING AND CREDIT NEWS-November 20, 2017-Donnelley Financial Solutions guide helps transform proxy statements
M2 EQUITYBITES-November 20, 2017-Donnelley Financial Solutions guide helps transform proxy statements
Of the 27 named executives at the seven publicly traded newspaper businesses that reported executive compensation for 2012, 2013 and 2014 via their 2015 annual meeting proxy statements, the average salary and benefits increase from 2013 to 2014 was 43 percent.
The start of the year typically means a glut of proxy statements for investors, but the recipients of those statements may not be reading as much of the document as companies would like.
The 2015 proxy environment has taken a distinctive shape, molded by recent developments as shareholders continue to push for a voice in proxy statements. These developments are set against the backdrop of the practice of companies seeking no-action relief from the Securities and Exchange Commission (SEC) when the company intends to exclude a shareholder's proposal in its proxy statement.
Reviewing annual reports, proxy statements and other literature will help keep you better informed about your company and its prospects, as well as warn you of any possible disagreements among company management and large shareholders.
Proxy statements describing the proposals on the agenda andproxy cards for use by shareholders that cannot attend the meeting in personwill be sent by mail, on or about November 9, 2009, to the Company'sshareholders of record and to shareholders that hold shares registered withthe American Stock Transfer & Trust Company.
"Proxy statements, by nature, are lengthy and graphically unappealing, with big blocks of text and few pictures," says Barbara Whelahan, a columnist for the financial website bankrate.com.
Randy Jayne, managing partner with executive search firm Heidrick & Struggles, interpreted the results of a survey of the proxy statements of some 75 Fortune 500 companies, reviewing their executive compensation practices.
The SEC's requirements pertaining to "Audit Committee Disclosure" specifically address the audit committee's responsibility in terms of the ISB Standard and require the audit committee to state (within its proxy statements) whether it has received from the auditors the independence disclosures required by ISB Standard No.
21, 2000, and began requiring companies to disclose in annual proxy statements fees paid for audit and nonaudit services.
Once a year, companies send shareholders proxy statements and a ballot along with their annual reports, in effect allowing investors to vote on how the company should be run (through the board of directors who represent them) without investors having to attend shareholder meetings.