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A proxy is a person who represents a member in the shareholders' meeting of a company, with a legal document that could prove their authority.
State laws require public companies to hold a meeting of shareholders every year, and the Securities and Exchange Commission (SEC) requires publicly traded companies to file proxy statements ahead of annual shareholders' meetings and special meetings.
A proxy statement is a document provided by public corporations so that their shareholders can understand how to vote at shareholder meetings and make informed decisions about how to delegate their votes to a proxy.
A company is required to file its proxy statements with the SEC no later than the date proxy materials are first sent or given to shareholders. You can see this filing by using the SEC's database, known as EDGAR. Enter the company's name here and select the appropriate company to view its SEC filings.
A document sent to shareholders letting them know when and where a shareholders' meeting is taking place and detailing the matters to be voted upon at the meeting. You can attend the meeting and vote in person or cast a proxy vote.
Proxy statements describe matters up for shareholder vote, and include management and executive compensation information if the shareholders are voting for the election of directors.
A proxy statement is a statement required of a firm when soliciting shareholder votes. This statement is filed in advance of the annual meeting. The firm needs to file a proxy statement, otherwise known as a Form DEF 14A (Definitive Proxy Statement), with the U.S. Securities and Exchange Commission.