Proxy Vote

A proxy vote is a ballot cast by one person or firm on behalf of a shareholder of a corporation who may not be able to attend a shareholder meeting, or who otherwise desires not to vote on an issue. Shareholders receive a proxy ballot in the mail along with an information booklet called a proxy statement, which describes the issues to be voted on during the shareholder meeting. In a shareholder meeting, shareholders may be casting votes about who to elect as directors of the board, approving a merger or acquisition, or approving a stock compensation plan.