Proxy Statement

A proxy statement contains information regarding an issue that needs to be voted on at a shareholders' meeting. The Securities and Exchange Commission (SEC) requires that a proxy statement be filed with the SEC before soliciting a shareholder vote. The proxy statement should contain pertinent, factual information concerning the matter to be voted on. A proxy statement may also include general matters or concerns to be discussed at the meeting. Examples of what may appear on a proxy statement include proposals for new additions to the board of directors, information on directors' salaries and perks, and information on bonus and options plans for directors. The meetings for which the proxy statement is distributed may be the standard annual meeting or a special meeting. A proxy statement exist to help shareholders make informed decisions at these meetings.