Good morning. The 2026 Annual Meeting of Shareholders of American Shared Hospital Services, a California corporation, is now in session and will come to order. Good morning. I am Ray Stachowiak, Executive Chairman of American Shared Hospital Services. It is with great pleasure that I welcome you to our 2026 Annual Meeting of Shareholders. We are pleased to be hosting our meeting virtually. I will serve as Chairman of this meeting. Ms. Alexis Wallace, our Corporate Secretary, will serve as secretary of the meeting. There are four items of business on today's agenda. Number one, the election of Directors. Number two, the non-binding advisory vote on the compensation of our named Executive Officers. Number three, the approval of our amended and restated incentive compensation plan. Number four, the ratification of the selection of our independent registered public accounting firm.
I will describe each proposal in more detail when we open the polls momentarily. There will be an opportunity for questions or comments at the end of the meeting. Please note that in the interest of all shareholders, we will only address those questions that are pertinent to the business of today's meeting. In addition to our management, other attendees today are the members of our Board of Directors, and Mark Hubert is participating virtually as a representative of Baker Tilly US, the company's independent registered public accounting firm. To assure impartial vote tabulation, the Board of Directors appointed Ms. Cynthia Skoglund of American Election Services LLC to serve as the Inspector of Elections for this meeting. Ms. Skoglund has signed an oath to faithfully execute her duties as Inspector of Elections.
Ms. Wallace will now report on the mailing of the proxy materials and the presence of a quorum for today's meeting.
As Secretary, I hereby present that a sworn affidavit of mailing has been delivered attesting to mailing of the notice of this meeting, the notice having been made available on April 30th, 2026, to American Shared stockholders of record at the close of business on Monday, April 27th, 2026, which is the record date for purposes of voting at this meeting. American Shared's transfer agent prepared a complete list of the holders of record of common stock entitled to voting at this meeting. The list includes the names and addresses of the stockholders arranged in alphabetical order and the number of shares held. As Assistant Secretary, I will file the records of the company, a copy of the notice of the meeting, the proxy statement, the form of proxy, the 2025 Annual Report, and the affidavit concerning the mailing of these materials.
The stockholder list shows that as of the record date, there were 6,627,466 shares of common stock outstanding and entitled to vote at this meeting. We are informed by the Inspector of Election that there are represented in person or by proxy shares of common stock representing 4,490,690 votes, or approximately 67.75% 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 this record date, a quorum is present for purposes of transacting business. The first item of business to be considered at this meeting is the election of Directors to serve until the 2027 Annual Meeting of Shareholders, and until their successors are elected and have qualified. The Board of Directors has nominated the following persons to fill four positions on the company's Board of Directors: Daniel G.
Kelly, Jr., Kathleen Miles, Raymond C. Stachowiak, and Vicki L. Wilson. These four individuals are the only persons who have been nominated to stand for election as Directors. The Board of Directors recommends that you vote for the election of the nominees named above. The second piece of business to be considered at this meeting is the advisory vote on the executive compensation of the company's named Executive direct officers for the fiscal year ended December 31st, 2025. The Board of Directors recommends a vote for this proposal. The third piece of business to be considered at this meeting is the approval of our amended and restated incentive compensation plan. The Board of Directors recommends a vote for on this proposal.
The fourth and final piece of business to be considered at this meeting is the ratification of the appointment of Baker Tilly US, LLP as the company's independent registered public accounting firm for the year ending December 31st, 2026. As noted in the company's Form 8-K filed with the Securities and Exchange Commission on June 9th, 2025, Moss Adams LLP merged with Baker Tilly US, LLP, effective June 3rd, 2025. In connection with notification of the merger, the audit committee of our Board approved the appointment of Baker Tilly as the successor to Moss Adams as our independent registered public accounting firm for the fiscal year ending December 31st, 2025. We will consider votes for or against this proposal as votes for or against the ratification of the appointment of Baker Tilly as our independent registered public accounting firm for the fiscal year ending December 31st, 2026.
Similarly, we will consider abstentions on this proposal as abstentions on the vote to ratify the appointment of Baker Tilly as our independent registered public accounting firm for the fiscal year ending December 31st, 2026. The Board of Directors recommends a vote for this proposal. It is now 9:05 A.M., and the polls are open for voting. If you have previously voted, it is not necessary to vote again. If you have not voted or wish to change your vote, please click on Vote Here under the Cast Your Vote section on the platform. We will now give stockholders time to vote. It is now 9:06 A.M., and the polls are closed. The Inspector of Election will provide a final report on the voting results this week.
However, based on the preliminary tally provided by the Inspector of Elections, all four nominees for election as Directors received sufficient votes to be elected. Proposals 2, 3, and 4 have been approved. Go ahead, Ray.
This concludes the formal business, and there appears to be no further business to be brought before the meeting. The meeting is hereby adjourned. We will now take any questions or comments. If you wish to ask a question, now please submit it through the Ask a Question feature on the platform. In the interest of all shareholders, we'll only address those questions that are pertinent to the business of this meeting. We'll now pause for any questions or comments. There appears to be no further questions or comments. We'd like to thank you for participating in our Annual Shareholders Meeting. We thank you all for your continued support.
Ladies and gentlemen, this concludes the meeting. Thank you for joining. You may now disconnect.