Good morning, ladies and gentlemen. I'm Michael Morrissey, President and CEO of Exelixis. I want to welcome all of you to our annual meeting of stockholders. I now call the meeting to order. Present at today's meeting are Chris Senner, our EVP and CFO, and Andrew Peters, our SVP of Strategy and Investor Relations. In addition, Brenda Hefti, our SVP and General Counsel, will act as Secretary of the meeting, and Nina Iyer, our VP of Corporate Legal Affairs and Operations and Board Secretary, has been appointed to act as Inspector of Election. Also with us today are Rick Shunn and colleagues from our independent public accounting firm, Ernst & Young. During our question- and- answer session, they will be available to answer questions concerning the corporation's financial statements.
Our annual meeting is being held virtually via live webcast this year, and our meeting format is designed to ensure that our stockholders who attend virtually will be able to participate as they would at any in-person meeting. Accordingly, as stockholders, you will be able to listen, submit your questions, and vote your shares online during the meeting. To ensure we are able to respond to your questions, we will host a question- and- answer session immediately after we announce the results of the voting, and we will only address those questions and comments that are germane to the meeting and otherwise comply with the rules of conduct. If we are not able to respond to your questions or comments, please raise it separately after the meeting by contacting our investor relations and public affairs team via the Exelixis website.
Each of you has registered through the virtual meeting portal using your 16-digit control number provided on your notice of internet availability of proxy materials, your proxy card or your voting instructions form that accompanied your proxy materials. If there are any of you who have joined as guests, we welcome you to the meeting as well, but please be reminded that you will not be able to vote any shares or ask any questions during the meeting. Both the agenda and rules of conduct for the annual meeting are available in the virtual meeting portal in the lower right-hand part of the screen. To conduct an orderly meeting, we kindly ask that participants abide by these rules. As stated in the rules of conduct, the business of the meeting will follow the agenda provided and only proposals to be voted on will be those included in our proxy statement.
If you desire to submit a question or comment during the meeting, please type it into the designated field in the virtual meeting portal located in the lower left-hand part of the screen. We ask that you restrict your remarks to the items in the agenda. Thank you for your cooperation with these rules. The secretary has delivered an affidavit of mailing establishing that notice of this meeting was duly given, which will be referenced in the minutes of this meeting. All stockholders of record at the close of business on March 31st, 2026, are entitled to vote at the annual meeting. Our first order of business at this meeting is to determine whether the shares represented at the meeting, either in person or by proxy, are sufficient to constitute a quorum for the purpose of transacting business. Ms. Secretary, do you have a report?
Yes. The stockholders list shows that holders of 254,008,174 shares of common stock of the corporation are entitled to vote at this meeting. We are informed by Ms. Iyer that there are stockholders present or represented by proxy, holding in the aggregate 229,026,386 shares of common stock, or approximately 90.16% of all the shares entitled to vote at this meeting, and accordingly, a quorum is present.
Thank you. I hereby declare this meeting to be duly convened for the purposes of transacting such business as may properly come before it. We'll now turn to the proposals to be voted on at today's meeting. The first proposal is the election of 11 directors to serve until the next annual meeting of stockholders in 2027. The board of directors has nominated and recommends the election of the following persons as directors of Exelixis: Mary C. Beckerle, PhD, [Asgal Ekart], MD, Maria C. Freire, PhD, Tomas J. Heyman, David E. Johnson, Michael M. Morrissey, PhD, Robert L. Oliver, Jr., Stelios Papadopoulos, PhD, George Poste, DVM, PhD, FRS, Julie Anne Smith, and Jack L. Wyszomierski. No other nominations have been received or may be made at this meeting in accordance with Exelixis' bylaws. The board of directors unanimously recommends a vote for each named nominee.
The second proposal to be voted on is the ratification of the selection of Ernst & Young LLP as our independent registered public accounting firm with a fiscal year ending January 1st, 2027. The board of directors unanimously recommends a vote for Proposal 2. The third proposal to be voted on is the amendment and restatement of the Exelixis Inc. 2017 Equity Incentive Plan to, among other things, increase the number of shares authorized for issuance by 2 million shares as disclosed in our proxy statement. The board of directors unanimously recommends a vote for Proposal 3. The fourth proposal to be voted on is the approval on an advisory basis of the compensation of our named executive officers as disclosed in our proxy statement. The board of directors unanimously recommends a vote for Proposal 4. It is now 9:07, and the polls are open for voting.
If you are a registered stockholder entitled to vote and have not yet voted or want to change your vote, you may do so by clicking on the voting button in the virtual meeting portal and following the instructions there. Stockholders who have sent in proxies or voted already by telephone, internet, or postal mail and who do not wish to change their votes do not need to take any further action. Okay. It is now 9:08. I hereby declare the polls closed. The Inspector of Election will now proceed to count the votes. Will the secretary please report the preliminary results of the voting?
She has been informed by the Inspector of Election that the votes have been counted and that the nominees for election to the board of directors have been duly elected.
Ernst & Young has been ratified as our independent registered public accounting firm for the current fiscal year. The amendment and restatement of the Exelixis Incorporated 2017 Equity Incentive Plan has been approved. The compensation of our named executive officers as disclosed in the 2026 proxy statement has been approved.
Thank you. The business and procedural aspects of the meeting are now concluded. We would like to move to stockholder questions and comments. Please again note that we will only read and respond to those questions and comments that are germane to the meeting and otherwise comply with the rules of conduct. Okay. We have not received any questions or comments from stockholders that are germane to this meeting, we will forego the Q&A session.
If at a later time you have questions or other feedback, please contact Exelixis' Investor Relations and Public Affairs team via the Exelixis website. Thank you for joining us for the Exelixis 2026 Annual Stockholders Meeting. The meeting is now concluded.