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Finance Dictionary and Glossary of Investment Terms
Authorization, whether written or electronic, that shareholders' votes may be cast by others. Shareholders can and often do give management their proxies, delegating the right and responsibility to vote their shares as specified.
Authority to act for another, or the person with the power to do so. In the investment world, a proxy may be solicited from shareholders so that management can vote their shares. The word ""proxy"" is also investment shorthand for the proxy statement, a revealing document sent to shareholders annually that discloses what issues may be up for shareholder approval and how much top managers are paid.
Written power of attorney given by a shareholder of a corporation, authorizing someone to vote on his or her behalf at corporate meetings.
A formal document signed by a shareholder to authorize another shareholder, or commonly the company's management, to vote the holder's shares at the annual meeting.