Definition of proxy
1 : the agency, function, or office of a deputy who acts as a substitute for another
2a : authority or power to act for anotherb : a document giving such authority; specifically : a power of attorney authorizing a specified person to vote corporate stock
3 : a person authorized to act for another : procurator
Examples of proxy in a Sentence
Since I wouldn't be available to vote, I nominated him to act as my proxy.
sent a proxy to the meeting to cast his vote for him
Recent Examples of proxy from the Web
Using a magnetic resonance scanner, a noninvasive instrument that can peer deeply inside the body, the scientists measured the amount of fat in each bird before and after the 2-hour flight test—a proxy for how much energy the birds spent.
As part of the work, the team also evaluated whether a proxy for flying ability—the ratio of a bird’s wing length to its width—had an effect.
Australian legislators finally voted to change the rules, allowing new mothers to breastfeed in the chamber and not to have to cast their votes by way of proxy.
In the summer of 2016, Tim Canova was the South Florida proxy for the dying embers of Bernie Sanders’ presidential bid.
Shares in T-Mobile, on the other hand, have jumped about 11 percent since the Dec. 31 price used in its proxy to value the parachutes.
Hezbollah has long been allied with Iran and are fighting in Syria as Iranian proxies.
The greatest damage has already been done, and that is the shattering of beloved myths and comforting relationships by the proxy of television and nostalgia.
The U.S. oil-rig count typically is viewed as a proxy for activity in the sector.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'proxy'. Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Proxies and Proxy Servers
Proxy comes from a contracted form of the Middle English word procuracie (meaning “procuration”). A proxy may refer to a person who is authorized to act for another or it may designate the function or authority of serving in another’s stead. In the latter sense, it generally is preceded by the word by (“vote by proxy”).
Proxy has recently taken on meanings in computing, where it is found in such phrases as proxy server, a computer system that facilitates the exchange of data between users on a network.
Origin and Etymology of proxy
Middle English proxi, procucie, contraction of procuracie, from Anglo-French, from Medieval Latin procuratia, alteration of Latin procuratio procuration
First Known Use: 15th centurySee Words from the same year
Financial Definition of PROXY
What It Is
A proxy is the common name for the Securities and Exchange Commission (SEC) Form 14-A (the "proxy statement"), which is the document containing the voting ballot and material information related to the propositions to be determined.
How It Works
Shareholders in corporations have the right to vote on matters such as electing directors, selecting an auditor, approving a merger, or selling the company. The SEC requires public companies to file proxy statements prior to the companies' annual shareholder meetings; the objective is to inform shareholders of the meeting, what matters are up for a vote, and instructions for voting. The proxy statement contains background information so that shareholders can make informed voting decisions. Proxy statements often reveal the relationships between board members and management (i.e., family ties, prior professional relationships, etc.)
Shareholders can vote by mailing their ballots; they don't have to attend the company's annual meeting or vote in person. In many cases, shareholders don't actually receive a proxy statement in the mail if they own shares indirectly, as is the case with mutual funds (in that situation, shareholders own shares of the mutual fund rather than shares of the underlying assets).
Investors who hold shares in street name (that is, the shares are registered to the investor's brokerage firm rather than in his or her own name) might also not receive proxies. In these cases, the fund manager or brokerage firm is the actual shareholder in the eyes of the company, and they receive the proxy statement and can vote the shares. These representatives are responsible for voting the shares in the best interest of their investors, and in many cases, a mutual fund is a sizeable shareholder--its vote may have a significant impact on the company.
Why It Matters
One of the most basic rights of shareholders is the right to vote. The proxy and the voting process it is associated with are manifestations of this most fundamental right. Shareholders are the owners of a company, and they can use their votes to influence a company, sometimes against management's wishes. These are called callable preferred stock fights.
One type of information that is often of particular interest is management compensation data. Companies must disclose how much particular executives are making and how those executives are compensated. For example, a proxy may disclose that a CEO is bonused a certain amount when the company achieves a certain percentage of customer growth; this is helpful to shareholders because it might explain why the CEO is focused on advertising campaigns rather than infrastructure or product development.
PROXY Defined for English Language Learners
Definition of proxy for English Language Learners
: a person who is given the power or authority to do something (such as to vote) for someone else
: power or authority that is given to allow a person to act for someone else
PROXY Defined for Kids
Definition of proxy for Students
1 : authority to act for another or a paper giving such authority
2 : a person with authority to act for another
Legal Definition of proxy
1 : the act or practice of a person serving as an authorized agent or substitute for another —used especially in the phrase by proxy
2a : authority or power to act for another b : a statement or document giving such authorization; specifically : an oral consent or written document (as a power of attorney) given by a stockholder to a specified person or persons to vote corporate stock
3a : a person authorized to act or make decisions for another appointed a health-care proxy b : something serving to replace or substitute for another thing
Origin and Etymology of proxy
Middle English procucie, contraction of procuracie, from Anglo-French, from Medieval Latin procuratia, alteration of Latin procuratio appointment of another as one's agent
Seen and Heard
What made you want to look up proxy? Please tell us where you read or heard it (including the quote, if possible).