What is a remote proxy solicitation?

A Remote Proxy Solicitation is a process where a third-party firm or individual is hired, often working remotely, to gather proxy votes from shareholders for a company's annual or special meeting. These professionals contact shareholders, provide information about proposals, and encourage them to vote in accordance with the company's recommendations. The goal is to ensure a sufficient number of votes are cast to reach quorum and pass important resolutions. Remote work allows these specialists to operate efficiently using digital tools and communication platforms.