What is Proxy Vote?

A proxy vote is a voting ballot that is cast by one person on behalf of another. It is a common method for shareholders to cast votes when they cannot personally attend a corporate meeting where voting takes place.

Proxy votes are generally cast by shareholders when voting on certain corporate matters, such as electing directors, voting on mergers and acquisitions or voting on stock compensation plans. The process involves the corporation sending the shareholder a proxy voting form along with a statement that describe any issues to be voted on by the shareholder. The shareholder then completes the form and returns it to the corporation and their vote is counted as if they voted in person.