Good morning, and welcome to ZyVersa Therapeutics' 2023 Annual Stockholder Meeting. My name is Steve Glover. I'm Chief Executive Officer, President, and Chairman of the Board of Directors of ZyVersa Therapeutics. I'm pleased that you could join today for the updates for our year. The meeting is being held virtually to enable stockholders to attend regardless of their location. As is our custom, we will conduct the business portion of our meeting first and answer questions at the end of the meeting if time permits. Please keep in mind that we are not at liberty to share any material, non-public information. This meeting is officially called to order, and the polls are now open. You may vote online prior to closing of the polls in accordance with the proxy information you received prior to the meeting. I am pleased to introduce the other members of our board.
Robert G. Finizio, Chairman of our Compensation Committee and member of our Audit Committee, Greg Freitag, Chairperson of our Audit Committee and member of our Nominating and Corporate Governance Committee, James Sapirstein, Chairperson of our Nominating and Corporate Governance Committee and member of our Audit and Compensation Committees, and Dr. Minchul Park, who is a member of our Compensation and Nominating and Corporate Governance Committees. I would also like to introduce our management team, Peter Wolf, Chief Financial Officer and Corporate Secretary, Dr. Pablo Guzman, Chief Medical Officer, and Karen Cashmere, our Chief Commercial Officer. I will now turn the meeting over to Peter Wolf, who will act as Secretary of this meeting.
Thanks, Steve. We're joined here today by our independent auditor, Ernst & Young LLP, represented by one of the partners, Amy Sadler, and our legal counsel, Thompson Hine LLP, represented by one of the partners, Faith Charles. I would like to announce that Marlene Aguilar of Compass Branding Group has been appointed to act as Inspector of Elections. Ms. Aguilar's role is to verify the voter qualifications, accept their votes, and to tally the final votes. She has taken the oath of office to execute her duties with strict impartiality. We will now proceed with the formal business of the meeting, following which we will answer questions from stockholders, time permitting. You may submit questions in the designated field on the web portal. I will now turn the meeting over to the Inspector of Elections.
Thank you. ZyVersa’s Board of Directors fixed September 11th, 2023 , as the record date for determining stockholders entitled to vote at this meeting. An affidavit has been delivered, attesting to the fact that all stockholders of record were sent information about internet availability of proxy materials, and paper copies of the proxy materials were mailed to stockholders who requested them around September 15th, 2023 . Proxies have been received for 19,980,254 of the 36,394,188 shares of common stock outstanding and entitled to vote as of the record date. This represents approximately 55% of the total number of outstanding shares and constitutes a quorum for the meeting today. I will now turn the meeting back to Mr. Wolf, who will discuss the proposals for the vote.
Thank you. There are five proposals to be considered by the stockholders. Proposal One is the election of two Class I director nominees, Gregory G. Freitag and James Sapirstein, to hold office for a term of three years and until their successors are duly elected and qualified. Proposal Two is ratification of the appointment of ZyVersa’s Audit Committee of Ernst & Young LLP as the company’s independent public accounting firm for the fiscal year ending December 31, 2023. Proposal Three is the adoption and approval of an amendment to our Second Amended and Restated Certificate of Incorporation to increase the authorized number of shares of our capital stock from 111 million to 251 million, and the number of authorized shares of our common stock from 110 million to 250 million.
Proposal Three, or Proposal Four, I'm sorry, is approval of amendment and restatement of our 2022 Omnibus Equity Incentive Plan to increase the number of shares of common stock reserved for issuance thereunder by four million shares to 5,453,107 shares.
Finally, Proposal Five is the adoption and approval of an amendment to our Second Amended and Restated Certificate of Incorporation to effect a Reverse Stock Split of our issued shares of common stock at a ratio within the range of not less than 1-for-10 and not greater than 1-for-50, with the exact ratio within such range to be determined at the sole discretion of our board of directors, without further approval or authorization of stockholders before the filing of an amendment to the Second Amended and Restated Certificate of Incorporation , affecting the proposed Reverse Stock Split.
Now I will turn the meeting back over to Mr. Glover.
The polls remain open to vote on each of the five proposals outlined. This is the last call to submit your ballot. Any stockholder who hasn't 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 provided there. Stockholders who have sent in their proxies or voted via telephone or internet and do not want to change their vote, do not need to take any further action. Each share of ZyVersa common stock is entitled to one vote. We will now pause to enable the final voting. Now that everyone has had the opportunity to vote, I declare that the polls are closed on all proposals. Our Inspector of Elections will now announce the preliminary vote results.
Thank you. The preliminary vote report shows that Proposal One: to elect two nominees to the board, is approved. Proposal Two: to ratify the company's independent public accounting firm, is approved. Proposal Three: to increase the authorized number of shares of the company's capital and common stock, is approved. Proposal Four: to increase the number of shares of common stock reserved for issuance under the company's incentive plan, is approved. Proposal Five: to effect a reverse stock split, is also approved.
Thank you, Marlene. ZyVersa will report the final vote results in a Form 8-K to be filed within four business days. There being no further business, the annual meeting of stockholders of ZyVersa Therapeutics is now adjourned. At this time, we are offering any stockholders in attendance the opportunity to ask questions, bearing in mind that we are not at liberty to share any material, non-public information. Please note, we will attempt to answer as many questions as time allows. You may submit questions in the designated field on the web portal. As there are no further questions, this concludes our meeting. Thank you for your attendance today. We appreciate your continued support, and have a great rest of the day.
The meeting has now concluded. Thank you for joining, and have a pleasant day.