A proxy is a legal document that instructs a stockholder's agent on how to vote shares of stock for the stockholder.

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This statement is true. A proxy is a legal document that allows a stockholder to delegate voting power to another person or entity, usually their agent or a proxy firm. The proxy specifies how the stockholder's shares should be voted on a particular matter, such as the election of directors or a proposed merger.

A Proxy Is a Legal Document That Instructs a Stockholder's