Good morning. Welcome to the Cirrus Logic, Inc. annual meeting of stockholders. I would now like to turn the conference over to Michael Barrett. Please go ahead.
Good morning. I'm Michael Barrett, the Assistant Corporate Secretary of Cirrus Logic, and it's my pleasure to welcome you to our 2019 annual meeting of stockholders. It's approximately 11:00 A.M., and in accordance with the notice of the meeting, I call Cirrus Logic's annual meeting to order. We are conducting today's annual meeting entirely electronically, which will allow a broader group of stockholders to participate. With me today is Dr. Jason Rhode, Director and Chief Executive Officer of the company. Jason?
Thank you. Before we move on to official business, I would like to introduce the company's other directors who are present on the call with us today: John Carter, Alec Davern, Tim Dehne, Deirdre Hanford, Al Schuele, and David Tuckerman. Also in attendance are Thurman Case, our Chief Financial Officer. Scott Thomas, our General Counsel. Chelsea Heffernan, our Director of Investor Relations. Amy Garrett, our Financial Reporting Manager, who is also acting as our Inspector of Elections. Melissa Allen-Smith of Ernst & Young, the company's independent registered public accounting firm. And Paul Tobias, the company's outside corporate counsel from Vinson & Elkins. We will conduct our annual meeting pursuant to the posted agenda. If there are any questions submitted today about any of the proposals up for vote, we will address them prior to closing the polls. Also, upon adjournment, I will make a few brief remarks.
This format will allow us to complete our formal business and then move on to matters of general interest. To begin our formal meeting, I would ask Michael to present the Secretary's report on the mailing of the notice of this meeting and the presence of a quorum.
Stated in the notice of meeting and proxy statement, the purposes of this meeting are: one, to elect seven company directors for one-year terms, two, to ratify the appointment of Ernst & Young as our independent registered public accounting firm for fiscal year 2020, three, to hold an advisory vote to approve executive compensation, and four, to consider such other business as may properly come before the meeting.
The board fixed June 3, 2019, as the record date for determining stockholders entitled to vote. An affidavit is on file with the company attesting to the fact that a notice of internet availability of proxy materials was mailed to all stockholders of record on or around June 21, 2019. A complete list of the stockholders entitled to vote has been available and open to inspection by any stockholder for at least 10 days prior to this meeting at the company's headquarters.
A total of approximately 58.1 million shares of common stock were outstanding as of the record date and are entitled to vote at today's meeting. The holders of approximately 53.9 million shares of common stock are present today either in person or by proxy. These shares represent approximately 93% of the voting power of the outstanding shares on the record date, and as a result, a quorum is present.
On the basis of the Secretary's report, the meeting is convened. The minutes of last year's annual meeting are available for review by any stockholder. Copies can be obtained by calling or writing the Office of the Corporate Secretary. The polls are now open for voting. The vast majority of our stockholders have already sent in their proxies, and they do not need to take any further action with respect to the matters to be voted on today unless they wish to change their vote. For this reason, we will be able to report preliminary voting results momentarily when the polls close. For stockholders of record, you may vote now via the internet by clicking on the Vote Here button. For stockholders who own shares through a broker, you will have to vote your shares based on the instructions provided by your broker.
The first item of business is the election of directors to hold office for the ensuing year and until their successors are elected and qualified. We will elect a board of seven members today.
The board's nominees for director for the ensuing year or until their successors are elected and qualified are John C. Carter, Alexander M. Davern, Timothy R. Dehne, Deirdre Hanford, Jason P. Rhode, Alan R. Schuele, and David J. Tuckerman. Biographies of these nominees were included in our proxy statement. The board's slate of directors is now formally placed before the meeting.
Under our bylaws, the nominations are closed. The next item of business is the ratification of the Audit Committee's appointment of Ernst & Young as our independent registered public accounting firm for fiscal year 2020.
The audit committee of the company's board of directors has appointed Ernst & Young as the company's independent registered public accounting firm for its 2020 fiscal year. This appointment is now submitted for stockholder ratification.
The next item of business is an advisory vote to approve executive compensation. As described in our proxy statement, the company's board of directors recommends that our stockholders vote for the following resolution: Resolved that the compensation paid to the company's named executive officers, as disclosed pursuant to Item 402 of Regulation S-K, including the compensation discussion and analysis, compensation tables, and narrative discussion, is hereby approved. This resolution is now formally submitted for stockholder approval.
Michael, are there any other matters to be voted on?
There are none.
Have any questions been submitted by our stockholders regarding the proposals to be voted on today?
There have been no questions submitted regarding those proposals. The polls are now closed. The preliminary results of our stockholders' votes on these items of business will be announced momentarily. The final results, including the shares voted at this meeting, will be tallied and then filed with the Securities and Exchange Commission on a Form 8-K filing. Stockholders may also obtain results by calling or writing the Office of the Corporate Secretary. Will the Inspector read those results?
The preliminary results of the voting are as follows: The board's slate of seven director nominees has been approved, with each director nominee having been elected by the vote required under our bylaws. The selection of Ernst & Young LLP as the company's independent registered public accounting firm for fiscal year 2020 has been ratified, and executive compensation has been approved.
Thank you, Amy, and to everyone attending. That concludes the formal part of our meeting. Cirrus Logic's 2019 annual meeting is now adjourned. We will now close with a few remarks from Jason.
This past year, Cirrus Logic executed on a number of strategic initiatives that we believe will drive growth opportunities in the future. We expanded our penetration of the Android market as demand for our boosted amplifiers continued to increase. We are excited to be shipping with seven out of the top 10 smartphone OEMs and expect more devices utilizing Cirrus Logic components to be introduced over the next 12 months. Additionally, we gained momentum with our haptic drivers product line as we continue to move beyond audio and voice into adjacent markets. We remain focused on delivering long-term growth through investment in innovative products where we can leverage our expertise in low-power, low-latency signal processing. On July 31, we shared our fiscal year Q1 results and Q2 outlook via a shareholder letter and an earnings call, which included a Q&A session.
To view this information or to contact us with a question about our results and operations, please visit our Investor Relations website at investor.cirrus.com. Chelsea, during today's meeting, have we received any questions related to matters of general interest?
We have not.
I would again like to express my sincere appreciation to the stockholders who participated and voted today. That concludes our 2019 annual meeting. Goodbye.
The conference has now concluded. We thank you for attending today's presentation. You may now.