- Proxy
- 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. Shareholders can and often do give management their proxy, representing the right and responsibility to vote their shares as specified in the proxy statement. The New York Times Financial Glossary
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1. someone whom you choose to act for you. For example, if a person owning shares in a company cannot come to a company meeting, someone else can be given the power to vote for him or her:• If you have consulted the proxy and confirmed that he or she is able and willing to vote for you, they do not have to sign any forms.
• The poll showed 68% in favour of the idea, mainly proxy votes from institutional shareholders.
2. a document that gives one person the power to speak, vote, or make decisions for someone else, especially at a meeting3. by proxy if you do something by proxy, you arrange for someone else to do it for you:• You will need to say on the application form whether you want to attend the meeting or vote by proxy.
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A written authorization by a shareholder for another party, or a company's board of directors, to cast votes at a shareholders' meeting. Proxy votes are often gathered by dissident shareholders who wish to force the board of directors to change policy.* * *
proxy UK US /ˈprɒksi/ noun► [C or U] a written document that officially gives someone the authority to do something for another person, for example by voting at a meeting for them: »A creditor may give a proxy to any person of full age requiring him or her to vote for or against any specified resolution.
»proxy materials/cards/forms
► [C or U] a person who you choose to do something officially for you, for example to vote at a meeting or in an election when you are not able to vote yourself: »Your proxy does not necessarily have to sign the form himself or herself.
»Any patron with a registered ballot book may participate in the minimum-bid auction in person Saturday, or via proxy.
»proxy votes/voting
► [C] a situation, process, or activity to which another situation, etc. is compared, especially in order to calculate how successful or unsuccessful it is: a proxy for sth »Wall Street typically uses volume growth as a proxy for the underlying health of a business.
Financial and business terms. 2012.
