What role does a proxy play in corporate voting?

A proxy is an individual or entity authorized to act on behalf of a shareholder in corporate voting matters. This role is essential in corporate governance as it allows shareholders to delegate their voting rights, especially if they are unable to attend a meeting in person. By allowing individuals to represent shareholders' votes, proxies facilitate participation in governance processes and ensure that the interests of shareholders are voiced in decisions regarding corporate actions, management appointments, and other essential matters. This system helps maintain the democratic process within the corporation, ensuring that all shareholder voices can be heard, even when they are not physically present.