Welcome to the Annual Meeting for Mobile Infrastructure Corporation. Our host for today's call is Manuel Chavez, Chief Executive Officer and Chairman of the Board of Directors. Now I'll turn the call over to your host. Mr. Chavez, please go ahead.
Meeting, please come to order. Good morning, ladies and gentlemen. I am Manuel Chavez, Chief Executive Officer and Co-Chairman of the Board of Directors of Mobile Infrastructure Corporation. On behalf of the company, I want to welcome you and thank you for virtually attending our annual meeting of stockholders. In accordance with the company's bylaws, I will act as chairman of this meeting. Before turning to the formal items of business, I would like to begin by introducing the people who have joined us virtually for this meeting. We welcome Stephanie Hogue, our President, Treasurer, Secretary, and Member of the Board of Directors, and the other current members of our Board of Directors: Jeffrey B. Oscher, David Garfinkel, Danica Holley, and Damon Jones. Ms. Hogue will act as secretary of this meeting.
I would also like to introduce James Raitt, a representative of American Election Services LLC, who has been appointed as inspector of election for this meeting and has taken an oath of office as inspector of election, which shall be filed with the minutes of this meeting. Before we turn to the business portion of the meeting, I'd like to quickly cover the order of the day and the procedures we will follow. The agenda for today's meeting is posted on our virtual meeting page. You can access the rules of conduct for today's meeting on that page under Rules of Conduct. The agenda sets forth the proposal for stockholder consideration and order of business, which will be conducted in accordance with the company's bylaws and rules of conduct. To conduct an orderly meeting, we ask that participants abide by these rules.
Also, today's meeting may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act that involve risks, uncertainties, and other factors that are detailed from time to time in our 10-K and other filings with the SEC. We assume no obligation to update forward-looking statements. If you have already authorized your proxy to vote your shares, you need not vote at this meeting since the persons designated as proxies will vote for you as indicated in your voting instructions. If you have not yet authorized a proxy, or if you want to change your vote, you may do so by clicking on the voting button on the bottom of the virtual meeting page, and you can do so until the polls are closed. There will be an opportunity for questions about the proposal after it is presented and before the polls are closed.
If you have any questions about the proposal, you may submit them now using the Ask a Question box on the meeting page. Please adhere to the rules of conduct if you choose to ask a question. I would now like to present to you the secretary of the meeting, Stephanie Hogue. Stephanie, would you please present the required formal documents and affirm that the meeting is duly convened for the transaction of business?
Thank you, Manuel. I have here copies of the Notice of Annual Meeting of Stockholders, the Proxy Statement, and the Forms of Proxy, together with the duly signed and notarized Affidavit of Distribution from Broadridge Financial Solutions Incorporated, the company's mailing agent, certifying that the Notice of Annual Meeting of Shareholders and the company proxy materials were distributed to stockholders of record commencing April 23rd, 2025. These documents will be filed with the records of this meeting. The Board of Directors set the close of business on April 14th, 2025, as the record date for determining stockholders entitled to notice of and to vote at this meeting. I have been advised by the inspector of election that a majority of the outstanding shares of common stock are represented in person or by proxy at this meeting.
Thank you, Stephanie. I declare that a quorum is present and the meeting is duly convened. Proposal One, Election of Directors. As noted in the company's supplemental proxy materials, the non-binding proposal to ratify the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2025, has been withdrawn. Accordingly, the only proposal before the stockholders is the election of the six directors to serve until the annual meeting of stockholders in 2026 and until their successors are duly elected and qualify. The Board of Directors of Mobile Infrastructure Corporation has nominated and recommends that stockholders vote for the election of Manuel Chavez, Stephanie Hogue, David Garfinkel, Danica Holley, Damon Jones, and Jeffrey Oscher as Directors of Mobile Infrastructure Corporation.
The affirmative vote of a plurality of the votes cast at the meeting is required to elect each of the directors. I will now pause for any questions on the proposal. If you have not already submitted a question, you may do so now using the Ask a Question box on the meeting page. Stephanie, have any questions on the proposal been submitted?
No questions on the proposal have been submitted.
Having concluded with no questions on the proposal, the presentation of the proposal for stockholders' consideration is concluded, and we will proceed with the voting. The time is now 9:06 A.M., and the polls are now open for voting on the matters before this meeting. Again, if you have already authorized your proxy to vote your shares, then there is no need for you to cast your vote. If you have not authorized a proxy or voted yet or wish to change your vote, please use the voting function on the virtual meeting page. We will now give everyone a moment to cast their votes. Since all the stockholders have had an opportunity to vote, I now declare the polls closed at 9:08 A.M. this June 18th, 2025. The votes will now be tabulated by the inspector of election, after which we will announce the preliminary results of the voting.
Based on the preliminary voting results, the nominees for directors have each received a plurality of the votes cast and have each been elected to serve as members of the Board of Directors until our 2026 annual meeting of stockholders and until their respective successors are duly elected and qualified. The inspector of election report with respect to the final results for the voting will be filed with the minutes of this meeting, and we will publicly report on the final certified results within four business days of this meeting. With no business to be considered, the formal portion of this meeting is adjourned. I'd like to take a moment to speak directly to our shareholders about a significant and very positive step forward in the evolution of Mobile Infrastructure's leadership.
As you know, our company is executing a multi-year strategic plan focused on streamlining our portfolio, strengthening our balance sheet, and positioning Mobile for long-term durable growth. This includes the targeted recycling of up to $100 million in non-core assets, a disciplined initiative that is already reshaping our platform for stronger performance. To fully capitalize on this next phase, we are realigning our leadership structure to ensure we have the right skill sets focused on the right priorities. As part of this realignment and following the election of directors at the upcoming annual meeting effective August 1, 2025, Stephanie Hogue will assume the role of Chief Executive Officer and President. Stephanie and I have worked together side- by- side for six years, navigating everything from strategic pivots to capital markets to operational execution.
Throughout that time, she's demonstrated the strategic clarity, operational discipline, and leadership acumen required to take Mobile into the next chapter. I have complete confidence in her ability to lead the company, and I believe this transition is the right next step for Mobile and for our shareholders. In her new role, Stephanie will continue to lead on the operational front while driving balance sheet execution, two of the most critical levers in delivering sustainable value. For my part, I will transition into the role of Executive Chairman, where I will be able to focus more deeply on our capital rotation strategy, leveraging my experience in highly bespoke real estate and parking transactions to unlock near-term value and reposition our portfolio for long-term success. Together, we are aligned in our belief that this evolution strengthens our foundation and sharpens our focus. Thank you for your continued trust and partnership.
With that, we conclude the 2025 Annual Meeting of Stockholders.
That concludes our meeting today. Thank you for joining. You may now disconnect.