proxy contests

A proxy contest occurs when an outside group or shareholder challenges a company's management by trying to persuade other shareholders to vote differently on company decisions, often including the election of board members. This process typically involves the challenger submitting proxy materials to solicit votes in favor of their proposed change, aiming to influence the company's direction. Proxy contests are a way for shareholders to effect change or express disagreement with current management without taking full control, and they often arise when there are disagreements over company strategy, leadership, or governance.