B. A document that accompanies a request that a shareholder authorize another person to cast the shareholder's vote at a corporate meeting.
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to pronunciation.Legal Definitions -
Proxy - n. 1. One who is authorized to act as a substitute for another; especially, in corporate law, a person who is authorized to vote another's stock shares. 2. The grant of authority by which a person is so authorized. 3. The document granting this authority. --Also termed (for sense 3 in Roman law) procuratorium.
Black's Law Dictionary® Eighth Edition © 2004
Proxy Statement -
An informational document that accompanies a request that a shareholder authorize another person to cast the shareholder's vote at a corporate meeting and which explains the proposed action by the corporation.
Black's Law Dictionary® Eighth Edition © 2004
Recent Usage -
Houston's Reliant Energy Inc. wants a federal judge to give it permission to ignore a request from a shareholder who wants to place a proposal on Reliant's 2007 proxy statement that could make it easier in the future for shareholders to nominate board directors. On Jan. 29, Reliant, a power company, filed a complaint in the U.S. District Court for the Southern District of Texas seeking a declaratory judgment that it can "properly omit" from proxy materials, which will be distributed in connection with the company's 2007 annual meeting, a proposal submitted by Seneca Capital. Seneca Capital is a hedge fund in New York that owns Reliant stock. Seneca Capital asked Reliant to include a proposal on the proxy statement asking shareholders to amend the company's bylaws to permit holders of at least 3 percent of the company's stock to be eligible to nominate a candidate for the company's board of directors. Brenda Sapino Jeffreys Texas Lawyer February 5, 2007