What is a proxy vote?

A proxy vote is a way for shareholders of a company to vote on corporate matters without actually being present at the meeting. In California, shareholders of a corporation are allowed to vote by proxy, but there are rules around who can cast a proxy vote and how it must be done. A proxy vote is a type of absentee voting, where a shareholder gives someone else the authority to cast their vote for them. The person casting the proxy vote is known as the "proxyholder", and they are typically chosen by the shareholder ahead of time. The proxyholder can be a third party, such as an attorney, or they can simply be someone who is not the shareholder (such as a spouse). In order for a proxy vote to be valid in California, the shareholder must fill out a valid proxy form and provide it to the proxyholder. The proxyholder must then submit the form to the corporation at least 48 hours before the vote takes place. Proxy voting is an important tool, particularly for larger companies where it is difficult for all shareholders to attend a meeting in person. By allowing proxy votes, shareholders have the opportunity to have their voice heard, even when they are unable to attend the meeting.

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What is a proxy vote?

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