Proxy

Business, Legal & Accounting Glossary

Definition: Proxy


Proxy


What is the dictionary definition of Proxy?

Dictionary Definition


  1. A written authorization given by a shareholder for someone else, usually the company’s management, to cast his/her vote at a shareholder meeting or at another time.
  2. More generally, a person who represents another person.

Full Definition of Proxy


A proxy is a written agreement authorizing a specified person to act as a shareholder’s agent in voting your shares usually at the company’s annual meeting of shareholders, but for any specified period or purpose.

The proxy statement mailed to shareholders of record lists candidates running for positions on the board of directors and any known issues scheduled to come before the shareholders for a vote. The proxy can instruct the agent how to vote on each item or can grant the agent the ability to vote as they feel appropriate. The proxy can be rescinded at any time if the shareholder changes his mind or decides to attend the meeting and vote in person.

Proxy fights have been known to occur when competing groups attempt to make major changes in a company. One might be a hostile takeover offer, or a major change of policy possibly involving a change in board of directors membership and selection of a new CEO. Then shareholders can receive multiple requests for proxies and advice from management on how to vote.


Related Phrases


Agent
Annual meeting of shareholders
Board of directors
CEO
Hostile takeover
Proxy fight
Proxy statement
Shareholder


Cite Term


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Page URL
https://payrollheaven.com/define/proxy/
Modern Language Association (MLA):
Proxy. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 28, 2024 https://payrollheaven.com/define/proxy/.
Chicago Manual of Style (CMS):
Proxy. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/proxy/ (accessed: March 28, 2024).
American Psychological Association (APA):
Proxy. PayrollHeaven.com. Retrieved March 28, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/proxy/

Definition Sources


Definitions for Proxy are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 29th November, 2021 | 0 Views.