Irrevocable Proxy
What is this form?
The irrevocable proxy is a legal document that allows a shareholder to delegate their voting rights to another person, known as a proxy, without the option to revoke that authority. This form ensures that the designated proxy can vote on behalf of the shareholder at corporate meetings, including votes related to important decisions. Unlike a regular proxy, which can be revoked at any time, this proxy remains effective until a specified date, providing enhanced stability in voting matters.
Key parts of this document
- Identification of the shareholder and the number of shares owned.
- Designation of the proxy holder and their right to vote on behalf of the shareholder.
- Statement of the irrevocability of the proxy until a specified end date.
- Agreement to indicate the existence of the proxy on the share certificates.
- Signature and date of the shareholder, along with witness signatures.
Common use cases
This form is particularly useful when a shareholder is unable to attend a corporate meeting and wishes to ensure their votes are counted. It is commonly used in situations where shareholders want to provide their proxies with the authority to vote without the risk of losing that authority prior to the meeting, such as during extended corporate governance discussions or significant stockholder votes.
Who can use this document
- Shareholders of a corporation who want to delegate their voting rights.
- Individuals looking to maintain control over their shares while being unable to attend meetings.
- Investors in corporations requiring a formalized voting delegation for critical decisions.
Instructions for completing this form
- Identify the shareholder by entering their name and the number of shares owned.
- Name the individual being granted proxy authority.
- Clearly state the irrevocable nature of the proxy and the expiration date.
- Ensure all elements are signed by the shareholder and include witness signatures.
- Annex a legend indicating the outstanding proxy on share certificates as necessary.
Notarization guidance
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to specify the expiration date of the irrevocable proxy.
- Not having the form signed in the presence of witnesses.
- Omitting the identification of the proxy or the number of shares.
Benefits of using this form online
- Convenience of downloading and filling out the form from home.
- Editability ensures that all necessary details can be accurately entered before printing.
- Reliability from using templates drafted by licensed attorneys.
What to keep in mind
- An irrevocable proxy allows someone to cast votes on your behalf without the option to revoke your decision.
- Ensure all relevant details are correctly filled out to avoid potential voting disputes.
- Use this form when you want to entrust your voting power to another individual for a specified period.
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FAQ
A proxy is an agent legally authorized to act on behalf of another party or a format that allows an investor to vote without being physically present at the meeting.
A proxy is a person who is designated by another to represent that individual at a meeting or before a public body.It also refers to the written authorization allowing one person to act on behalf of another.
What is a Proxy Statement? A proxy statement is a document containing the information the Securities and Exchange Commission (SEC) requires companies to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual or special stockholder meeting.
A proxy is an agent legally authorized to act on behalf of another party or a format that allows an investor to vote without being physically present at the meeting.
A revocable proxy is an authorization to a person to act on behalf of another party, which may be revoked at any time by the grantor of the proxy.Revocable proxies are typically issued in connection with stock related matters.
A member of a company is entitled to appoint another person as his proxy to exercise all or any of his rights to attend, speak and vote at a meeting of the company. A member can appoint any other person to act as his proxy; it does not have to be another shareholder of the company.
An example of proxy is someone who is named to make health care decisions for you if you are unable to do so. An example of proxy is when you register to vote and have someone else actually cast your ballot.
Proxy, a term denoting either a person who is authorized to stand in place of another or the legal instrument by which the authority is conferred.
A Proxy Form is a document by which a registered member of a company appoints another person (the proxy) to attend a company meeting and vote on the member's behalf. Every member of a company that is entitled to attend and vote at company meetings can either vote in person or through a proxy.
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.
