Welcome to the Electronic Arts 2019 Annual Meeting of Stockholders. My name is Jake Schatz, and I'm EA's General Counsel and Corporate Secretary. First, I would like to cover the agenda for today. We will start with the official business of the meeting. Then Blake Jorgensen, our COO and CFO, will give a short presentation followed by a Q and A session.
During the Q and A session, please come up to the microphones at the front of the room to ask your question. During this meeting, we may make forward looking statements about future events or the future financial performance of the company. Actual events or results may differ materially. We refer you to the company's most recently filed Form 10 ks for a discussion of risk factors that could cause our actual results to differ materially from those discussed today. Now, I'll turn it over to Andrew Wilson.
Thanks, Jake. Good afternoon and welcome to the Electronic Arts 2019 Annual Meeting of Shareholders. Before turning to the formal items of business, I would like to introduce the members of the Board of Directors, executive Officers and a few others who are here today. Would you please stand up when I call your name? In addition to me, the members of the Board of Directors with us today are Larry Prochst, our Chairman Luis Eubinas, Chair of the Nominating and Governance Committee and our Lead Director Rick Simonson, Chair of the Audit Committee Jay Hoag, Chair of the Compensation Committee Len Coleman, Jeff Huber, Talbot Roche and Heidi Ubroff.
Each of our current directors has been nominated for and has consented to serve for a 1 year term. Their biographies and qualifications can be found at beginning on Page 7 of our proxy statement. The members of our executive staff joining us here today are Blake Jorgensen, Chief Operating Officer and Chief Financial Officer Laura Miele, Chief Studios Officer Ken Moss, Chief Technology Officer Chris Bruzzo, Chief Marketing Officer Joel Winsner, Executive Vice President and Worldwide Business Affairs Mala Singh, Chief People Officer Matt Bilby, Executive Vice President of Strategic Growth Ken Barker, Chief Accounting Officer and Jake Schatz, General Counsel and Corporate Secretary. I'd also like to introduce Lisa Munro and Carolyn Stead from KPMG LLP, the company's independent auditors. They'll be available during the Q and A session if you have any questions.
Jake Schatz, who has been appointed Secretary of this meeting, will now conduct the formal business of the meeting.
Thanks, Andrew. If you meet the voting requirements and have not already voted, please register now with Andrew Wilcox from Broadridge Financial Solutions, who has been appointed as Inspector of Elections. Mr. Wilcox is sitting at the proxy table. He will hand you a ballot to vote on the matters to be considered at this meeting.
A list of VA stockholders as of the record date June 14, 2019 has been available at the company's headquarters for the past 10 days and is available for examination by any stockholder present today or by any proxy holder representing a stockholder. A copy of the notice of this meeting and a declaration of the mailing to each stockholder of record as of the record date also is available for inspection. I am advised by the Inspector of Elections that a a total of 253,000,000 86,230 or over 85% of the outstanding shares eligible to vote are present in person or by proxy. A quorum is present and the meeting is authorized to transact business. It is 2:0:3 p.
M. And the pools are open. Proposal 1 is the election of 9 members of the Board for a term of 1 year. The Board has nominated the following persons and recommends a vote for each nominee Leonard Coleman, Jay Hogue, Jeffrey Huber, Lawrence Probst, Talbot Roche, Richard Simonson, Luis Ubinas, Heidi Huberoff and Andrew Wilson. Proposal 2 is an advisory vote on the compensation of the company's named executive officers.
Proposal 3 is the ratification of the appointment of KPMG LLP as the company's independent public registered accounting firm for fiscal year 2020. Proposal 4 is the approval of the company's 2019 Equity Incentive Plan. Proposal 5 is the approval of the amendment and restatement of the company's certificate of incorporation to permit stockholders holding 25% or more of the company's common stock to call special meetings. The Board of Directors recommends a vote for each of proposals 2, 3, 45. Proposal 6 is a stockholder proposal to allow stockholders holding 15% or more of the company's common stock to call a special meeting.
This stockholder proposal was jointly submitted by James McRitchie and Myra Young. Would the representative of the proponents please stand, identify yourself and present the proposal.
Good afternoon. My name is Jin Zhao. I'm reading the Proposal 6. Shareholders request that the Board of Directors take the steps necessary to amend the company government documents to give shareholders with a total 15% net loan position of the outstanding common stock to the power to call a special meeting. This proposal is already a success because it can take credit for the appearance of Proposal 5 on today's ballot.
It is entirely consistent for shareholders to vote for Proposal 6 and 5. Proposal 5 is good, but Proposal VI is better. Proposal VI is a stronger version of Proposal V from a shareholder perspective. 15% stock ownership threshold is important because 25% stock ownership threshold for shareholders to call a special meeting specified in Proposal 5 may be unreachable due to time constraints under the detailed technical requirement that can trip up half of shareholders who want a special shareholder meeting. Thus, the 25% stock ownership threshold to Cora Special Meeting can be up 50% stock ownership threshold to call a special meeting for all practical purposes.
Please vote for 15% special meeting Stock ownership, shareholders in Proposal 6. Thank you very much.
Thank you. The Board of Directors recommends a vote against this proposal. For further information about the proposal, please refer to the proxy statement. If you already have voted by proxy, you do not need to cast a vote until you wish to change your vote, unless you wish to change your vote. The proxy holders will vote your shares as indicated on your proxy.
If anyone has requested to vote by ballot, please mark your ballots now and give them to the Inspector of Elections. It is now 2:0:6 p. M. The polls for voting are now closed and no further proxies or ballots will be accepted. I've been advised by the Inspector of Elections that over 85% of the shares outstanding were voted by proxy and counted prior to the meeting.
A majority of the votes cast either in person or by proxy has been voted for each of the 9 nominees for Director and for proposals 2, 3, 4, 5 and 6. This now concludes the formal business portion of the meeting. I declare the 2019 Annual Meeting of Stockholders adjourned. We now will move on to a short presentation by Blake Jorgensen followed by a question and answer period. Blake?
Welcome to the Annual Meeting. What you just saw is a new mode in our world famous FIFA game, the largest console and PC game in the world. And that mode is all about street football or football off of the pitch. And what we know is that many people either learn football or play football outside of a grass field. And this brings to the world and the people who love to play games the opportunity to play it that way, 3 on 3, 4 on 4, 5 on 5 more than simply you would see as a regular competitive soccer that most of FIFA has built in.
I just want to give you a quick view of our business. We have seen net revenue continue to climb in our business as we add more products and become more successful in some of our biggest products like FIFA. That has continued to generate greater and greater operating cash flow for the company, greater earnings and continued to fuel our success. And if you look at the next slide, what you'll see is the stuff that's coming up soon. We've got all of our sports games.
Madden just came out last week. FIFA comes out at the end of September, followed by NBA, NHL, our driving game, which is Need for Speed and a big game for the fall, Star Wars Jedi Fallen Order, which allows you to play actually as a Jedi in a Star Wars world, a very exciting game from our studio called Respawn. We also have 2 Plants versus Zombies games coming out, a mobile version and then a console version, which is a first person shooter style game, also a lot of fun. And then a small game that we just brought out this summer from a partner of ours through our partnership program where we help young studios build capabilities and games and that's called Sea of Solitude. So another big year for EA and we're very excited about the slate of products that we have out now and to come.
So with that, I will open for any Q and A if anyone has any questions. Fantastic. I appreciate everyone coming. Make sure you sign up for your game if you didn't do that already. I know there's one excited young man there who's got Madden coming.
So, we'll see everyone next year. Thank you.