Shareholder vote tabulation is the process of counting, checking and certifying the votes cast on each resolution put to a shareholder meeting. It is carried out by the company's registrar or transfer agent, by a specialist tabulation agent or, in the United States, by an independent inspector of elections. The tabulator receives each proxy voting instruction lodged before the deadline, adds the votes cast in person or online at the meeting, and produces totals for, against and abstaining on every item.
Each vote is checked against the holder's entitlement on the share register at the record date. The tabulator rejects duplicates, applies the latest valid instruction where a holder has voted more than once, and confirms that the quorum is met. Difficulties arise where nominees vote for many clients: lending and unsettled trades can lead to more votes being submitted than shares held. The certified result is announced after the meeting, completing the proxy voting cycle.