Welcome to the 2020 Annual Meeting for Fortive Corporation. Our host for today's call is Alan Spoon, Chairman. At this time, all participants will be in a listen-only mode. I will now turn the call over to your host. Mr. Spoon, you may begin, sir.
Thank you. Good afternoon, ladies and gentlemen, and welcome to the 2020 Annual Meeting of Shareholders of Fortive Corporation. I'm Alan Spoon, Chairman of the Board. This year, we are holding our annual meeting for the first time in a virtual-only format. We have changed the format this year to protect the health of our employees, shareholders, and our directors. Despite the change in the format, we have strived to make the meeting as inclusive as possible by offering our shareholders substantially the same opportunities to participate as they had in my prior in-person meetings. A list of shareholders entitled to vote at this meeting or at any adjournment has been posted and made available for inspection on this online meeting site. In addition, we have posted the meeting agenda and rules and procedures.
If you have not had a chance to review the rules and procedures, I ask that you take a minute to review them now. This meeting is held pursuant to the Notice of Annual Meeting that we began mailing on April 20, 2020, to all shareholders of record as of April 6, 2020. In addition, we began mailing the notice of change of location on May 15, 2020, to the same shareholders of record. Affidavits showing the proper mailing of the notice of this meeting and the notice of change of location will be filed with the records of the meeting. With that, the 2020 Annual Meeting of Shareholders of Fortive Corporation will please come to order. The polls are now open for voting. The polls will close upon conclusion of discussion on the last item being voted on here today.
As a reminder, shareholders can vote their shares online from now through the close of the Vote Here button on this online meeting site. If you have previously voted your proxy and do not wish to change your vote, your vote will be cast as you previously instructed. Most shareholders have already voted by proxy, and those votes have been tallied. In addition, following the adjournment of the formal portion of this meeting, we will have a few minutes to answer any questions submitted by our shareholders at this meeting. Shareholders who would like to submit a question may do so in the designated field on this online meeting site. As a reminder, only validated shareholders may ask questions. In addition, out of consideration for others, please limit yourself to one question.
With that, I would like to introduce the other directors of the company who are in attendance today: Feroze Dewan, Jim Lico, Kate Mitchell, Mitchell Rales, Steven Rales, and Jeannine Sargent. We also have in attendance Peter Underwood, our General Counsel, Griffin Whitney, our VP of Investor Relations, and Daniel Kim, our Corporate Secretary, who will be acting as secretary of this meeting. In addition, I would like to introduce Kathy Smith of the accounting firm of Ernst & Young LLP, the independent registered public accounting firm for our company. Our board of directors has appointed Broadridge to act as inspector of election. Leah Grant from Broadridge is with us today, and she has taken the oath of office as required by law. The oath of office will be filed with the minutes. The inspector of election and our secretary have advised that we have a quorum.
In the interest of time, we will waive a reading of the minutes of the last annual meeting. There are four items of business to be conducted at today's meeting. Each item is described more fully in the company's 2020 proxy statement. The company has not received notice from any of the shareholders as required under its bylaws of any other matter to be considered at today's meeting. Therefore, no other proposals may be properly introduced by shareholders. The first item of business is the election of Kate Mitchell, Mitchell Rales, Steven Rales, Jeannine Sargent, and Alan Spoon, each of whom has been nominated by the board to serve as a director until the 2021 annual meeting. The second item of business is the proposed ratification of the selection of Ernst & Young as the company's independent registered public accounting firm for fiscal year 2020.
The third item of business is the approval on an advisory basis of the company's Named Executive Officer compensation. The fourth item of business is the approval of the company's Certificate of Incorporation as amended and restated to eliminate the supermajority voting requirements applicable to shares of common stock. The polls are now closed for voting, and we will now report the preliminary voting results. I call on the Inspector of Election for her report.
Thank you. Mr. Chairman, with respect to the election of Ms. Kate Mitchell, Mr. Mitchell Rales, Mr. Steven Rales, Ms. Jeannine Sargent, and Mr. Alan Spoon as directors, for each director, a majority of the votes cast were voted in favor of election. With respect to the ratification of the selection of Ernst & Young LLP as Fortive's independent registered public accounting firm, a majority of the shares present or represented by proxy and entitled to vote voted in favor. With respect to the advisory vote on the company's Named Executive Officer compensation, a majority of the shares present or represented by proxy and entitled to vote voted in favor.
Lastly, with respect to the approval of the company's Certificate of Incorporation as amended and restated to eliminate the supermajority voting requirement applicable to shares of common stock, 77.49% of the shares outstanding on April 6, 2020, and entitled to vote voted in favor.
Thank you. In view of the results, I declare that each of the nominees for director named in the proxy statement has been duly elected a director of the company. Proposals two and three have been approved, and proposal four has not been approved. Ladies and gentlemen, that completes the business of the meeting, and I declare the formal portion of our meeting adjourned. At this point, I would like to take a few minutes to answer questions we have received. Griffin, can you read the first question?
There have been no questions submitted at this meeting.
Thank you, Griffin. That then concludes the 2020 annual meeting. Thank you for your support, and please have a good afternoon.
That now concludes the meeting. Thank you for attending, and have a pleasant.