proxy (noun, prox-y, \ ˈprɑːksi \) statement (noun, state-ment, \ ˈsteɪtmənt \)
Definition: is an official document that is usually included in a board’s proxy solicitation that is given to the company’s shareholders during their annual meetings and that contains factual information about the events or problems that will be voted on. A proxy statement may contain requests for new assignments to the board, the directors’ salaries, or any other declarations devised by the firm’s management. This statement has to be mandatorily filed by a publicly traded enterprise so that the shareholders are aware of its significant changes or events.
In a Sentence:
- We’ve prepared a proxy statement for the next shareholder’s meeting. Since the members of the board haven’t received a raise in over a year, this is one of the items we want to bring to their attention.
- The proxy statement presented at the meeting led to a lot of controversies. The shareholders were angry because the company’s management didn’t inform them about the loss of its two biggest clients.
Synonyms and related words: proxy, proxy solicitation, proxy tax, mission statement, interim statement
