Hello, and welcome to C3.ai's 2023 Annual Meeting of Stockholders. I am Derron Blakely, C3.ai's General Counsel. We are pleased to be conducting today's meeting as an audio webcast and are happy you can join us. As a reminder, this meeting is being recorded. The meeting will now come to order. I will begin with a few introductions. I'm joined today by Thomas Siebel, Chief Executive Officer and Chairman of C3.ai, and Chair of today's meeting. I'm also joined by Juho Parkkinen, Chief Financial Officer of C3.ai, and Guy Wanger, C3.ai's Chief Administrative Officer. I would like to welcome the members of our Board of Directors who are attending this meeting. We also have with us representatives from Deloitte & Touche, LLP, our independent registered public accounting firm, as well as legal counsel from Cooley LLP.
Finally, Nick Carideo from The Carideo Group is participating on this webcast and will act as the Inspector of Elections for today's meeting. He has signed an oath of office, which will be filed with the minutes of this meeting. I would now like to review the meeting procedures and formalities, the proposals to be considered by stockholders, and to conduct voting on the proposals properly before this meeting. This meeting is being held in accordance with C3.ai's amended and restated bylaws and Delaware law. A copy of the rules of conduct that govern today's meeting can be found in the Meeting Materials section of the web portal for today's virtual meeting. We ask that you abide by these rules in order to facilitate an orderly meeting.
I have, at this meeting, a complete list of the holders of record of the company's Class A and Class B common stock on August 8, 2023, the record date for this meeting. A list of stockholders of record is available for inspection by stockholders of record during this meeting for any reason germane to this meeting. Please click on the button on the bottom right of your screen to view the list. I also have an affidavit certifying that on August 23, 2023, a Notice of Annual Meeting of Stockholders of the company was deposited in the US mail to all stockholders of record as of the record date, August 8, 2023. Today, we will address the matters described in the company's proxy statement as dated August 23, 2023.
We will open the polls, and each proposal to be voted on will be presented in the order set forth in the company's proxy statement. No other matters have been properly brought for consideration at today's meeting. If you have not already voted and wish to vote during today's meeting, you may vote at any time while the polls remain open. If you have already submitted your vote by proxy and you do not wish to change your vote, you do not need to vote now, and your shares will be voted as previously instructed. If you intend to vote and have not already done so, you must submit your vote online for it to be counted. The polls will close immediately following the reading of the proposals. Once voting has passed, the polls will be closed, the votes tabulated, and preliminary voting results announced.
This will conclude the formal business of the meeting. After the formal business of the meeting has been concluded, we will take appropriate questions from stockholders. Any stockholder entitled to vote at the meeting and logged into the web portal may ask a question at any time by entering it into the appropriate section of the web portal. Please note that the question must conform to the posted rules of conduct for the meeting to be addressed. I have been informed by Mr. Carideo that a majority of the voting power of the outstanding shares of the company's capital stock entitled to vote at today's meeting are present either virtually or by proxy. As this constitutes a quorum, today's meeting is duly convened and open for business. We will now proceed with the formal business of the meeting.
It is shortly after 10 A.M. Pacific Time, and at the direction of the meeting's chair, the polls are open for stockholders desiring to vote today. As a reminder, if you have already sent in a proxy or voted via telephone or internet, and you do not wish to change your vote, no further action is needed. There are four proposals to be considered by the stockholders at this meeting, each of which is more fully described in the company's proxy statement dated August 23, 2023. The first proposal is the election of four Class III directors, each to hold office until the 2026 Annual Meeting of Stockholders and until his or her successors are duly elected and qualified, or until his or her earlier death, resignation, or removal.
The Class III director nominees are Michael G. McCaffrey, Condoleezza Rice, Jim H. Snabe, and Stephen M. Ward, Jr. The Board of Directors recommends that you vote for the election of each of these Class III director nominees. The second proposal is a non-binding advisory vote on the compensation of the company's named executive officers as disclosed in the company's proxy statement. The Board of Directors recommends that you vote on an advisory basis for the approval of the compensation of our named executive officers, as disclosed in the company's proxy statement.
The third proposal relates to amendments to our 2020 Equity Incentive Plan to increase the maximum number of shares that may be automatically added to the share reserve on May 1 of each year from 2024 to 2023, from the current maximum of 5% to a new maximum of 7% of the total number of shares of our capital stock outstanding as of April 30 of the immediately preceding fiscal year. The Board of Directors recommends that you vote for these amendments to the 2020 Equity Incentive Plan. The fourth proposal is the ratification of the appointment of Deloitte & Touche, LLP as the company's independent registered public accounting firm for the fiscal year ending April 30, 2024. The Board of Directors recommends that you vote for the ratification of the appointment of Deloitte & Touche, LLP.
No other proposals have been properly presented for consideration at today's meeting. At the direction of the meeting's chair, the polls are now closed for voting. No additional ballots, proxy, or votes, and no changes or revocations will be accepted. Based on the preliminary voting results, as reported by the Inspector of Elections, the stockholders have elected each of the Class III director nominees to hold office as Class III directors until the 2026 Annual Meeting of Stockholders and until his or her successors are duly elected and qualified, or until his or her earlier death, resignation, or removal.
Approved on an advisory basis, the compensation of the company's named executive officers, approved the amendments to the company's 2020 Equity Incentive Plan to increase the maximum number of shares added to the share reserve from 5%-7%, and ratified the appointment of Deloitte & Touche, LLP, as the company's independent registered public accounting firm for the fiscal year ending April 30, 2024. We expect to disclose preliminary voting results, or if available to us, final voting results on a current report on Form 8-K to be filed with the SEC within four business days after this meeting. If not earlier reported, we expect to report our final voting results in an amendment to our Form 8-K within four business days after the final results are known to us. This concludes our planned agenda for today.
There being no other formal business before us, the annual meeting is adjourned. We will now open the floor to any appropriate questions. Are there any questions? There are no questions. There being no questions, we will conclude this webcast. We thank you again for your attendance and your continued support of C3.ai.
The meeting has now concluded. Thank you for joining, and have a pleasant day.