Good day, welcome to the Silvergate Capital Corporation 2020 annual meeting of stockholders. I would now like to turn the conference over to Alan Lane, CEO. Please go ahead.
Thank you. Good morning, and welcome to the 2020 annual stockholders meeting of Silvergate Capital Corporation. I am Alan Lane, Silvergate's CEO and President. It is my pleasure to welcome you here today for this meeting and to introduce Dennis Frank, Silvergate's Chairman of the Board.
Thank you, Alan, and welcome everyone. Thanks for joining us today. We're excited to be hosting our first annual meeting as a public company and our first virtual stockholders meeting. We have stockholders attending via the web portal and via the 800 number we provided for the meeting. We'll conduct the business portion of our meeting first and answer questions at the end of the meeting. Though we may not be able to answer every question, we will do our best to respond to as many as possible. In keeping with the digital approach of this year's meeting, it is now 11:01 A.M. or 8:01 A.M. Pacific Time, 11:01 A.M. Eastern Standard Time. This meeting is officially called to order. I would like to introduce the other members of the board present today.
We have Alan Lane, who you just heard from, our CEO and President, who's also CEO of the company's subsidiary, Silvergate Bank. Robert Campbell is our Lead Director, Chairman of our Audit and Compensation Committees, and a member of our Nominating and Corporate Governance Committee. Derek Eisele is Executive Vice President of the company and President of Silvergate Bank. Tom Dircks is Chairman of our Nominating and Corporate Governance Committee and a member of our Audit and Compensation Committees. Paul Colucci is a member of our Audit and Compensation Committees. Karen Brassfield is a member of our Audit and Nominating and Corporate Governance Committees. Scott Reed is a member of our Compensation Committee. Mike Lempres is a member of our Nominating and Corporate Governance Committee. I, again, am Dennis Frank, Chairman of the Board.
Brief biographies for each of our directors are included in the proxy statement for this annual meeting, available to all stockholders on the investor relations portion of the company's website. Also with us today is Judy Knowles, Corporate Secretary. Judy will act as Secretary of the meeting. I will turn to her with any procedural issues that may arise. Finally, the company has appointed Broadridge Financial Solutions to act as our Inspector of Election. Michael Jim Kwiatkowski from Broadridge is with us on the line and has taken the oath of Inspector of Elections. After the formal meeting has been adjourned, we'll provide time for general questions. Validated stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to two questions. Note that this meeting is being recorded.
However, no one attending via the webcast or telephone is permitted to use any audio recording device. The board of directors fixed April 6th, 2020, as the record date for determining stockholders entitled to vote at this meeting. An affidavit has been delivered attesting to the fact that a notice of intent, internet availability of the notice of the meeting, the proxy statement and the annual report to stockholders were mailed on or about April 17th, 2020, to all stockholders of our Class A common stock as of the record date and will be incorporated into the minutes of this meeting. The stockholder list shows that as of the record date, there were 18,371,294 shares of Class A common stock outstanding entitled to vote at this meeting.
We're informed by the Inspector of Election that there are represented at this meeting in person or by proxy shares of common stock representing 12,957,042 votes, or approximately 70.52% of the voting power on the record date. Since this represents more than a majority of the voting power of all issued and outstanding stock entitled to vote on the record date, a quorum is present for purposes of transacting business. Judy Knowles will present the proposals that are before the Silvergate stockholders today. Judy?
Thank you. The proposals to be voted on are, Proposal 1, the election of directors. For election as Class 2 directors to hold office until the 2021 annual meeting of stockholders or until their successors are duly elected and qualified, Karen Brassfield, Michael Lempres, and Scott Reed. Proposal 2 is ratification of the appointment of Crowe LLP as the company's independent registered public accounting firm for fiscal year 2020. I return the meeting to you, Mr. Chairman.
Thank you, Judy. The polls are now officially open. Any stockholder who has not yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who've sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. Now that everyone has had the opportunity to vote, I declare the polls for our 2020 annual stockholder meeting closed and ask the Inspector of Election to report the results. Michael?
Thank you, Mr. Chairman. The preliminary vote report shows that the nominees for election to the board have been duly elected and that Crowe LLP has been ratified as the company's independent accounting firm for the fiscal year 2020. The company will report the final vote results in a Form 8-K to be filed with the Securities and Exchange Commission within four business days. I return the meeting to you, Mr. Frank.
Thank you, Michael. There being no further business to come before the meeting, the 2020 annual meeting of stockholders of Silvergate Capital Corporation is now adjourned, and I will ask our CEO, Alan Lane, to handle our question and answer period. Alan?
Thank you, Dennis.
My pleasure.
We welcome stockholder questions and will attempt to answer as many questions as time allows. Only questions that are germane to the meeting will be addressed. We'll have a short pause now to see if there are any questions. We're still here folks, j ust waiting to see if anybody pops a question in. We'll give it another minute. All right. W ell, that wasn't quite a minute, but we can see how many shareholders and other guests are logged into the call. We have not seen any questions. With that, on behalf of the company's directors, management, and employees, we appreciate your having chosen to invest in Silvergate and taking the time to attend our 2020 virtual annual meeting. Thank you, and have a good day.