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The Exchange Act of 1 9 3 4 and associated rules govern shareholder proxy voting for public companies. Which of the following is the best

The Exchange Act of 1934 and associated rules govern shareholder proxy voting for public companies. Which of the following is the best description of a proxy?
A shareholders instruction and authorization to vote on an issuers corporate matter
A customers authorization to allow a broker-dealer to trade in the shareholders account at the broker-dealers discretion
A customers authorization to an investment adviser to use its best judgement as to whether to accept a tender offer
An issuers direction to list its shares on a stock exchange.

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