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Shareholders who do not attend the Annual General Meeting (AGM) of a company may vote their shares through a proxy, by authorising someone else to cast votes on their behalf, or may vote by email.
Proxy statements are intended for shareholders with voting rights, while annual reports are for anyone following the company. This may be shareholders, including potential investors, regulators, financial institutions and more.
Proxy statements must offer insights into board and company performance, including: The salaries of the company's five highest-paid executives (including bonuses and equity) and the appropriate benchmark in chart form. Executive performance and the performance of executives of similar companies.
The information required in the proxy statement must include: (1) the identity of the late filer; (2) the number of late filings; (3) the number of transactions not reported on time; and (4) any known failure to file a required form. The solicitation of proxies section is required by Item 4 of Schedule 14A.
A proxy is an agent legally authorized to act on behalf of another party. The proxy may also allow an investor to vote without being physically present at the annual shareholder's meeting.