The Proxy Process
The proxy process — or proxy voting — is the term used to describe the means for shareholders to participate in a company’s annual shareholders meeting,without attending the meeting. This way, shareholders who do not attend a meeting may vote on the matters to be considered at the meeting. These votes typically are held once a year in connection with the company’s annual shareholders meeting.
Shareholders may vote in person by attending the shareholder meeting, or, shareholders may vote by proxy online, by mail or by telephone.
A proxy also refers to the authority or instrument that permits another individual to vote on a shareholder’s behalf at an annual or special shareholder meeting — for example, your broker or financial adviser or the manager of a mutual or pension fund in which you may be invested. Proxy may also mean the person empowered to act as an agent to vote on behalf of the shareholder.