In the context of corporate governance, a proxy vote enables shareholders who cannot attend a meeting to grant their voting rights to another individual, usually a representative from the company, known as a proxy. This is particularly important in organizations where decisions such as mergers, acquisitions, or significant policy changes require shareholder approval. Proxy votes can be cast for various types of decisions, not limited to corporate meetings but also for shareholder ballots. The delegate can vote according to the specific instructions provided by the shareholder or at their discretion if no instructions are given.