When shareholders give managers their proxy, it means that:

A. Shareholders let managers make day-to-day decisions about how to run the firm.

B. Shareholders issue a formal, written complaint to the senior managers about how the firm is being managed.

C. Shareholders let managers cast their votes for them.

D. Shareholders are firing the senior management team.

When shareholders give managers their proxy, it means that shareholders are authorizing the managers to vote on their behalf during company meetings.

Explanation:

When shareholders give managers their proxy, it means that shareholders are authorizing the managers to vote on their behalf during company meetings. Proxy voting allows shareholders who are unable to attend meetings to still have a say in the decision-making process.

Shareholders can give their proxy to the managers to vote on specific issues or for the entire meeting. This practice is common in corporate governance and ensures that shareholders' interests are represented even if they cannot personally attend the meetings.

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