Executor and Proxy

noun

• A person appointed by a testator to carry out the terms of the will. .

• (n.) One who executes or performs; a doer; as, an executor of baseness.
• (n.) The person appointed by a testator to execute his will or to see its provisions carried into effect, after his decease.
• (n.) An executioner.

EXECUTOR is a legal entity, frequently an individual, known before death to a testator, who is named in the testator's will to carry out the desires of the deceased after his death as designated in the will. Executors must be approved by the court of law probating the will. An executor pays all indebtedness as claimed by creditors of the estate, with the approval of the court of law, and then carries out or executes the will according to the terms set forth by the testator.

noun

• A person authorized to act for another.
  • synonyms: placeholder, procurator
• A power of attorney document given by shareholders of a corporation authorizing a specific vote on their behalf at a corporate meeting. .

• (n.) The person who is substituted or deputed to act or vote for another.
• (n.) A writing by which one person authorizes another to vote in his stead, as in a corporation meeting.
• (n.) The written appointment of a proctor in suits in the ecclesiastical courts.
• (n.) The agency for another who acts through the agent; authority to act for another, especially to vote in a legislative or corporate capacity.
• (v.i.) To act or vote by proxy; to do anything by the agency of another.
• (n.) See Procuration.

If you own common stock in a US corporation, you have the right to vote on company policies and to elect the company's board of directors. You may vote in person at the annual meeting or authorize the board to vote on your behalf using an absentee ballot, or' Proxy', which you can submit by mail or, increasingly often, by telephone or over the Internet. The Securities and Exchange Commission (SEC) requires each company to provide a proxy statement, which describes the issues being voted on and introduces the candidates for director. The proxy also reports the total compensation of the company's top five executives, as well as the company's stock performance in relation to Standard & Poor's 500-stock Index (S&P 500) and to comparable companies in the industry.