Hello, welcome to the 2023 DigitalBridge Group, Inc. annual meeting of shareholders. Please note that this meeting is currently being recorded. Questions may be submitted via the messaging icon at the top left of your screen. Type in your message in the Ask a question box, and then click the arrow to send your message. It is my pleasure to now turn the meeting over to your chairperson, Nancy Curtin.
Good morning, ladies and gentlemen. I am Nancy A. Curtin, chairperson of the Board of Directors of the DigitalBridge Group, Inc. It's a pleasure to welcome you and to call to order our 2023 annual meeting of stockholders. In accordance with our bylaws, I will serve as chairperson of this meeting. We will first conduct the formal business of the meeting by voting on the proposals described in our proxy materials. As is our custom, we will answer questions about the proposals and the company following presentation of the proposals and the conclusion of the meeting. Only stockholders may submit a question. Should you wish to submit a question during the meeting, as mentioned, please click on the messaging icon at the top left of your screen, type your question into the text box, and then click the send icon at the right of that text box.
Please note that in the interest of all shareholders, we will only address those questions that are pertinent to the business of the meeting. Before proceeding further, I'd like to introduce the company's other directors and certain officers who are present at the meeting today. Jeanne Diefenderfer, Jon A. Fosheim, Marc C. Ganzi, CEO of the company. Gregory J. McCray, Sháka Rasheed, Dale Anne Reiss, David M. Tolley, Jacky Wu, Chief Financial Officer of the company, Ronald M. Sanders, Chief Legal Officer and Secretary, and Severin White, Managing Director and Head of Public Investor Relations. Notice of the meeting. We've received an affidavit from our proxy solicitation agent certifying to the mailing of notice of this meeting commencing on April 7, 2023, to stockholders of record at the close of business on the record date March 15, 2023.
We're in the company furnished to such stockholders a proxy statement, annual report for the period ended December 31, 2022, and proxy card. This affidavit, together with copies of the notice of the meeting, proxy statement, annual report, and proxy card, will be filed with the minutes of the meeting. Barry Rosenthal of the American Stock Transfer & Trust Company has been appointed Inspector of Elections and has taken his oath. A copy of his oath will be filed with the minutes of the meeting. As of the record date, there were 161,632,617 shares of our Class A common stock and 166,494 shares of our Class B common stock outstanding. The Inspector of Elections has advised me that a quorum is now present.
Therefore, this meeting is duly organized for the transaction of business. We will now commence with the formal business items on the agenda. The first item of business on the agenda is the election of nine individuals to serve as members of the board of directors of the company for one year terms until the 2024 annual meeting of stockholders and until their successors are duly elected and qualified. Under the company's bylaws, the only persons who have been properly nominated are those nominees listed in the company's proxy statement. That's myself, Nancy A. Curtin, James Keith Brown, Jeanne H. Diefenderfer, Jon A. Fosheim, Marc C. Ganzi, Gregory J. McCray, Sháka Rasheed, Dale Anne Reiss, and David M. Tolley. I therefore declare that nominations for directors are closed.
The proposal to elect the nine nominees is described in detail in the company's proxy statement distributed in connection with this meeting, and the following resolution is deemed duly present at the meeting.
Resolved that the stockholders of the company hereby vote to elect each of the nine nominees identified above to serve until the 2024 annual meeting of stockholders and until their successors are duly elected and qualified.
The second item of business on the agenda is the approval on a non-binding basis of the compensation of the company's named executive officers, which is described in detail in the company's proxy statement distributed in connection with the meeting. The following resolution is deemed duly presented at the meeting.
Resolved that the compensation paid to the company's named executive officers, as disclosed in the proxy statement pursuant to Item 402 of Regulation S-K, including the compensation discussion and analysis, compensation tables, and narrative discussion, is hereby approved on an advisory basis.
The third item of business on the agenda is the advisory vote on the frequency with which non-binding advisory votes on executive compensation should be held in the future. Stockholders may vote for every one year, every two years, or every three years. The fourth item of business on the agenda is the approval of an amendment of the company's charter in the form presented in the proxy statement to decrease the number of authorized shares of common stock. The following resolution is deemed duly presented at the meeting.
Resolved that the amendment to the charter, as shown on Exhibit A to the proxy statement to decrease the number of authoried shares of Class A common stock from $949 million to $237,250,000 million. The number of authorized shares of Class B common stock from $1 million to $ 250,000 million. The number of authorized shares of Performance common stock from $50 million to $12,500,000 million is hereby approved.
The fifth item of business on the agenda is the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2023, which is described in detail in the company's proxy statement distributed in connection with this meeting. In addition, representatives of Ernst & Young LLP are here today to respond to any appropriate questions stockholders may have during the question and answer period later in the meeting. The following resolution is deemed duly presented at the meeting.
Resolved that the stockholders of the company hereby ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2023.
The polls are now open for voting on these proposals. The link which permits you to submit a ballot should now be visible to you. The floor is also now open for questions or comments from stockholders of the company concerning any of these proposals. Should you wish to submit a question, please click on the messaging icon at the top left of your screen, type the question into the text box, then click the send icon at the right of that text box. Please note that in the interest of all shareholders, we will only address those questions that are pertinent to the business of the meeting.
There are no questions.
If there are no further questions, we will proceed with the meeting. If you've already voted your shares and do not wish to change your vote, no action is required at this time. If you've not yet voted or would like to change your vote, you may do so now by clicking the proxy voting site link on the left-hand side of your screen. If you previously voted by proxy, submission of a new vote will revoke your prior proxy. I will now ask the Inspector of Elections to review all submitted votes. There being no further ballots, I declare the polls are now closed. All ballots and proxies are now in the custody of the Inspector of Elections. The Inspector of Elections has determined that proposals one, four, and five have been approved by the necessary votes. Therefore, the resolutions for such proposals have been duly adopted.
Proposal two did not receive a majority of the votes cast and has not been approved. The Inspector of Elections has determined that with respect to Proposal three, stockholders have voted on an advisory basis to hold future advisory votes to approve executive compensation annually. The report of the Inspector of Elections, which contains the final vote totals, will be filed with the minutes of this meeting in the company's minute book. This concludes the 2023 annual meeting of the company stockholders. I declare that this meeting is now adjourned. I want to thank you for attending today's meeting. We are grateful for your interest and support in DigitalBridge. I, your management, will be glad to entertain any questions concerning the company generally at this time.
If you'd like to submit a question, please again, click on the messaging icon at the top left of your screen, type the question into the text box, then click the send icon at the right of that text box.
There are no questions.
If there are no further questions, thank you again for attending. Stay safe and well, and we hope to see you again next year.