The moment we’ve all been waiting for has finally arrived, the new and improved proxy form is here! You can find the new form on our website HERE.
Along with a number of helpful and detailed instructions built into the form itself, the proxy form clearly outlines a proxy-holder’s authority at a meeting. The proxy form provides three options:
- If the first box is checked, the proxy-holder solely counts towards quorum. The proxy-holder would not be authorized to vote on any matter at the meeting, including matters of routine procedure.
- If the second box is checked, the proxy-holder may only vote on matters of routine procedure (for instance, vote on the termination of the meeting).
- If the third box is checked, there are two further options:
- OPTION A: If the proxy-giver fills out the remainder of the proxy form, the proxy-holder must vote in accordance with the proxy-giver’s instructions; or
- OPTION B: If the proxy-giver does not fill out the remainder of the proxy form (or does not fill out certain sections of the remainder of the proxy form), the proxy-holder has the authority to vote on any matter at the meeting as they see fit (or vote on the sections of the proxy form that were not filled out). In this case, the proxy-holder should be given ballot(s) at the meeting with respect to the matters they have the authority to vote on.
While some of the debate surrounding the proxies may have been put to rest with the new form, there remains plenty of room for confusion. This may not be the last of the changes to the proxy form as the kinks continue to be ironed out and the reason why many corporations are now looking at the electronic voting alternative. Click HERE for more information.