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A proxy statement outlines the changes or updates, so that shareholders can verify the information and see the company holding itself accountable for its decisions. Shareholders hold an important role in the future success of the company, which requires access to information.
A proxy statement aims to give shareholders key company and executive information so they can make informed votes at shareholder meetings. Proxy statements ask shareholders to vote for such things as: Electing new board members. Approving the salaries of officers and other top directors.
Eight definitive copies of the proxy statement, form of proxy and all other soliciting materials, in the same form as the materials sent to security holders, must be filed with the Commission no later than the date they are first sent or given to security holders.
Under the SECs Form 10-K,32 definitive proxy statements must be filed no later than 120 days after the end of fiscal year or by April 30, 2025 this year (if the company wants to incorporate Part III information from the proxy statement into its Form 10-K).
SEC Form DEF 14A is a type of proxy statement the SEC requires companies to file before they hold an annual meeting or conduct a shareholder vote. A companys 14A filing contains important financial information and corporate governance committee information.

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The proxy is a requirement for any company with public securities and must be filed with the Securities and Exchange Commission as proscribed in SEC Form DEF 14A. Proxies offer several benefits to the company and shareholders, as well as meeting compliance requirements.