What is proxy voting?

Posted By : Aubrey Mead , on Mar, 2017

 

Proxy voting is the term that is used to describe one of the ways that shareholders can participate in a company’s annual shareholder meeting. Proxy means that you are not going to physically attend the meeting in person; however, you can still submit your vote (usually online or via mail) without physically being there. Every public company holds annual shareholder meetings, and if you hold shares in a particular company, it is your prerogative, and right, to attend them.

A proxy can also refer to the authority given to someone else to vote on a shareholder’s behalf. These individuals are typically financial advisors or mutual fund managers. The term proxy can also mean an individual who can act as an agent on behalf of the shareholder.

The Proxy Process

If you are voting by proxy online, you can do so at websites such as colonialstock.com. Follow these steps to enter your vote (make sure you have your proxy notice close by)

  • Enter the website URL listed on the proxy notice.
  • Look for the “View Shareholder Proxy Material” tab. When you click on it, you should be able to view the materials by clicking the links that are located beside the materials listed.
  • Submit your vote by hitting the “Vote” tab or button; you’ll need to enter your control number. You’ll find that number on your Proxy Notice.
  • Simply follow the prompts to vote for each director or proposal, and then click the “Submit” button.
  • Review your vote to make sure it is accurate. Then click on the “Confirm” link or button for final submission.
  • You can also choose to have your vote emailed to you, or opt in for proxy notices to be emailed to you in the future.

The entire process only takes a few minutes and you can have peace of mind knowing that you vote is submitted and will be kept confidential according to the company’s privacy and security procedures (as well as government authority regulations). For more information Colonial Stock Transfer Company, Inc.

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