What is proxy voting, and why is it important?
Every publicly traded company has an annual meeting where management presents a ballot of several issues for shareholders to vote on. Shareholders who attend the annual meeting may cast their votes in person during the meeting, but most shareholders cast their votes by proxy—either electronically or by mail. A proxy vote represents a vote regarding one issue on a company ballot. The issues typically voted on at annual meetings include the election of directors, ratification of auditors, executive compensation, and other corporate governance issues. Shareholders can also place issues on the company’s ballot, called shareholder proposals. Social proposals can cover corporate governance or social issues, such as reporting on the environment or labor standards, and are usually sponsored by institutional investors like the General Board. The General Board generally votes proxies for all of the companies in which it invests, totaling approximately 2,500 U.S. and 450 international company mee
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