Welcome to Reliance Global Group Inc.'s virtual annual meeting of stockholders. My name is Joel Markovits, and I am Reliance's chief financial officer, and I will be moderating today's meeting. At the conclusion of the formal business portion of today's meeting, we'll open the floor for questions. As we begin now with the formal business of the meeting, I would like to read a cautionary statement. During the course of this meeting or in answers to questions, we may make forward-looking statements regarding future events or the future performance of the company. Actual events or results could, of course, differ materially. Moreover, we are not undertaking any obligation to provide updates in the future. We refer you to the documents the company files from time to time with the SEC.
Specifically, the company's most recent annual report on Form 10-K for the year ended December 31st, 2025. The most recent quarterly report on Form 10-Q, if any, and other reports we file with the SEC. These documents contain and identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements. The annual meeting will now please come to order. We want to welcome you and express our thanks for your attendance at this meeting. I'd like to begin by introducing some members of our team that are here with us today. Ezra Beyman, our Chairman and Chief Executive Officer. Yaakov Beyman, our Executive Vice President, Insurance Division. Moshe Fishman, our Senior Vice President of Strategic Ventures. The other members of our board of directors, Alex Blumenfrucht, Scott Korman, Ben Fruchtzweig, and Sheldon Brickman.
A representative from Urish Popeck & Co., LLC, our independent registered public accounting firm. James J. Raitt of American Election Services, LLC, serving as our inspector of election for today's meeting. I will now conduct the annual meeting as it relates to the proposals to be voted upon by our shareholders. On or about March 23, 2026, notice of this meeting was given to all shareholders of record at the close of business on March 5, 2026 by U.S. mail. I have for inclusion in the record of this meeting an affidavit from Broadridge Financial Solutions Inc. to that effect. A list of stockholders on the record date has been available for review for at least the past 10 days.
Preliminary report of the inspector election is that 9,591,634 shares, or approximately 45.13% of the 21,253,013 shares entitled to vote, are present in person or by proxy at this meeting. Therefore, I find there is a sufficient number to constitute a quorum for purposes of transacting business today. Accordingly, this meeting is declared open to proceed with its business. In order to expedite the consideration and vote of the business matters at this meeting, following is the order of business as I will follow. Each of the matters to be discussed and acted upon by our stockholders at this meeting will be discussed, moved, and seconded in the order set forth in a proxy statement. We will vote on each matter to be acted upon.
We will now consider Proposal 1, nominations for directors to serve for a term of one year, as set forth in a proxy statement, or until their successors are duly elected and qualified. Board of directors favors the election of the following persons as directors. Ezra Beyman, Alex Blumenfrucht, Scott Korman, Ben Fruchtzweig, and Sheldon Brickman. These candidates are hereby nominated and elected directors of the company. Other than these candidates, there were no other nominations in accordance with the procedures set forth in our certificate of incorporation and bylaws. May I have a motion to close the nominations for directors?
I move the nominations be closed.
I second the motion. There are no objections. The nominations are closed. Next, we will consider Proposal 2, ratification of the appointment of Urish Popeck & Co., LLC as our independent registered public accounting firm for our fiscal year ending December 31st, 2026. The motion on Proposal 2 is now in order.
I move that Proposal 2 be approved.
I second the motion. Next, we will consider Proposal 3, approval of an amendment to our 2025 Equity Incentive Plan to increase the number of shares available for issuance under the plan by 14 million shares, from 2 million shares to 16 million shares, as described in the proxy statement. The motion on Proposal 3 is now in order.
I move that Proposal 3 be approved.
I second the motion. Finally, we will consider Proposal 4, approval of an issuance of shares of our common stock in excess of the exchange cap for purposes of NASDAQ Listing Rule 5635(d), connection with our equity line of credit with White Lion Capital, as described in the proxy statement. A motion on Proposal 4 is now in order.
I move that Proposal 4 be approved.
I second the motion. Now that we have reviewed the proposals to be voted upon, I hereby declare the polls open for voting. Please remember that if you've already sent in your proxy card or voted by internet or telephone, your shares have been voted accordingly. Stockholders who have sent in proxies, already voted, do not need to take any further action. You do not need to vote today unless you are voting for the first time or want to change your previous vote. We will now proceed to vote on Proposals 1 through 4. The voting is now closed. While the inspector of election is completing tabulation of the votes, are there any questions that our shareholders would like to ask? Please bear in mind that we will only take questions that are germane to the specific proposals to be voted on.
If there are no questions, I will now report on the results of the stockholder votes. According to the preliminary report of the inspector of election, each of the proposals presented at this meeting has been approved with the following voting results. Proposal 1, each of the five persons nominated to be a director has been elected. Proposal 2, the appointment of Urish Popeck & Co., LLC as our independent registered public accounting firm has been ratified. Proposal 3, amendment to our 2025 Equity Incentive Plan has been approved. Proposal 4, issuance of shares for purposes of NASDAQ Listing Rule 5635(d) has been approved. The matters that this meeting was called to consider have been completed. Is there any additional business to come before this meeting? If there's no further business to come before the meeting, I would like to make some concluding remarks.
I would like to thank you, our stockholders and invited guests, for your support. I'd like to emphasize the commitment of each and every member of our team to deliver the best possible results for our company. We move forward with high expectations and a tenacity for success to continue in our efforts to build stockholder value. As always, thank you for your support and look forward to accomplishing even more for you, our stockholders, in the years to come. The meeting is adjourned. Thank you very much.
Thank you. The meeting has concluded. You may now disconnect.