DEFINITION of Duplicate Proxy
A duplicate proxy is a second voting proxy that allows a shareholder to override a submitted vote. In the case of duplicates, only the most recent is counted.
BREAKING DOWN Duplicate Proxy
Issuing a duplicate proxy will retract a shareholder's earlier decision. Most firms will provide shareholders with multiple proxy forms, allowing them to change their mind when voting on corporate issues. The second proxy should be submitted in a timely manner, or the shareholder risks missing the voting process.
In proxy voting, a shareholder delegates his/her vote to a representative casts their vote for them. When companies seek shareholder approvals for certain actions, they must submit a proxy statement to the Securities and Exchange Commission, also known as SEC Form DEF 14A. The proxy statement includes background information on the issues to be decided as well as information on the company and its executives.