When you own common stock in a publicly-traded company, you have the right to vote on certain business decisions.
Traditionally, only shareholders with at least one full share as of a vote’s Record Date are eligible to vote in corporate elections. This typically happens at shareholder meetings, online in a process called “proxy voting,” or over the phone. Owners of stock through Bumped, however, may be eligible to participate in proxy voting even with only fractional shares.
How it works
The number of shares held typically equates to the number of votes allowed. In the case of voting with fractional shares, only votes that add up to full shares are counted. Here’s an example of how voting with fractional shares works:
- Jenny owns .25 shares of Totally Made Up Company stock, so she has .25 votes. She votes “nay” in an election.
- Rian owns 1.4 shares. They vote “yea.”
- Tyler owns 1.75 shares. He votes “yea.”
- Amy owns .75 shares and votes “nay.”
The “yea” votes, in this case, add up to 3 shares voted (1.4 + 1.75 = 3.15) and the remaining .15 isn’t counted. The “nay” votes add up to 1 share voted (.25 + .75 = 1). That said, if Amy didn’t vote “nay” with her .75 shares, then Jenny’s vote with .25 would not be counted.
Even if you only hold a small fractional piece of stock from a company, it still makes sense to vote, since other people with fractional shares have the ability to vote, too. Your opinion matters.
How to vote
When a company you own stock in through Bumped has an upcoming election for you to vote in, you’ll get an email from email@example.com inviting you to vote and providing instructions. Those instructions may include info on how to vote online (proxy voting), at a shareholder meeting, or over the phone. Please note that while each company has different rules regarding who can attend a shareholder meeting in-person, in some cases you may need to have at least one full share to do so.
These instructions are about voting online.
Note: Beware phishing! As with any email, please be cautious before clicking links and make sure it’s from a source you trust. In this case, that’s firstname.lastname@example.org. You’ll never be asked for your Bumped password or any personal information as part of the voting process. You will, however, be asked for a Control Number and the last three digits of your Apex account number—both of these should be included in the email.
The email will include information about the company holding the meeting and will include links to important info that could help inform your vote.
To start your proxy vote, you can click either “vote now” or “Now via Proxy Vote.”
From there, you’ll be taken to a webpage asking for a 4-digit PIN to sign in. It’s likely you don’t yet have a PIN, so all you have to do is request one at the bottom of the page, and you’ll get an email including a new PIN.
After you have your PIN, you can sign in and vote.