Good morning, ladies and gentlemen. Welcome to the 2020 annual meeting of stockholders of Green Brick Partners. I am James R. Brickman, Chief Executive Officer and a Director of Green Brick Partners. For health and safety reasons relating to the impact of COVID-19, our Board of Directors determined that it was appropriate to hold a virtual meeting rather than an in-person meeting at our headquarters, as initially planned. Though we intend to return to an in-person annual meeting in future years after public health conditions have improved, we are grateful that technology allows us the opportunity to be here together today in this format.
Please note that if we experience technical issues such as the loss of audio or webcast connection, we ask that stockholders stand by and allow us time to resolve these issues and resume the meeting, or otherwise provide an update relating to the meeting. If a technical disruption occurs that prevents us from continuing the meeting and the formal portion of the meeting has commenced but is not yet adjourned, the polls will be closed immediately. In that situation, votes received prior to the time the polls are closed will be counted, the meeting will not be reconvened, and the results will be announced publicly. Please refer to the agenda for today's meeting, which lists the order of business for the meeting and our rules of conduct for the meeting. These are posted on the meeting page. The rules of conduct will explain how we will conduct the meeting.
After all agenda items have been presented, we will respond to pertinent questions on these proposals, close the polls, announce the preliminary voting results, and then adjourn the formal portion of the meeting. If you have any pertinent questions on the proposals being presented at this meeting, please submit your questions by clicking the message icon. At this time, I call the meeting to order. There are three items of business on today's agenda: the election of directors, the ratification of the appointment of the company's independent registered public accounting firm, and the approval on an advisory basis of the compensation of the company's named executive officers. If you would like to review these proposals, you may access our proxy materials using the links on the page. In accordance with the company's bylaws and the absence of the Chairman of the Board, I will act as Chairman of the meeting.
Richard A. Costello, Chief Financial Officer, Treasurer and Secretary of the company, excuse me, will act as Secretary of the meeting. I would like to take the opportunity to introduce the directors and officers and other invited guests of the company who are joining us virtually today. Our directors, Elizabeth K. Blake and Richard S. Press, Kelly Anderson, partner from RSM US LLP as a representative of our independent registered public accounting firm. Mrs. Anderson will be available to answer any appropriate questions you submit. Pursuant to the authority delegated by the Board of Directors, Broadridge Financial Solutions, our transfer agent, has been appointed to act as inspector of the elections for this meeting. Most of you have already submitted your proxy to vote, and you do not need to take further action. All proxies will be voted as marked by the stockholders signing them.
If you have not already voted or if you wish to change your vote, you may do so now by clicking on the Cast Your Vote link. The Board of Directors set April 28, 2020, as the date of record for determining stockholders entitled to vote, excuse me, entitled to notice of and to vote at the stockholders' meeting. We have at this meeting a list of stockholders as of that date. A duplicate list has been filed at the principal place of business of the company for the last 10 days immediately prior to the date of this meeting and has been available for inspection by any stockholder during that period during normal business hours. The list is available for inspection by stockholders using the stockholder list link found on the Meeting Center page.
The secretary will present the affidavit of distribution of the notice of annual meeting of stockholders together with the related proxy materials and report on the existence of a quorum for the meeting.
Mr. Chairman, I present the affidavit of distribution of Broadridge, which states that the notice of annual meeting of shareholders was mailed and the related proxy materials were filed with the Securities and Exchange Commission and made available online on May 4, 2020, to stockholders of record as of the close of business on April 28, 2020. The record date for stockholders entitled to notice of and to vote at this meeting, which is in accordance with the bylaws of the company. As a result, this meeting is being held pursuant to proper notice. In addition, I have been advised by the inspector of elections that a majority of the company's issued and outstanding shares entitled to vote is represented in person or by proxy at today's meeting.
Since a majority of the company's shares is represented here today, a quorum is present, the meeting is duly constituted, and the business of the meeting may proceed.
Thank you, Mr. Costello. The report of the secretary on the existence of a quorum is accepted. I direct that the affidavit of distribution be made part of the minutes of the meeting. We may now proceed to transact the business for which this meeting has been called. The first item of business today is the election of directors. Seven directors shall be elected at today's meeting. The election of directors will be determined by plurality vote of the shares present at the annual meeting, meaning the director nominee with the most affirmative votes for a particular slot is selected for that slot. The directors elected today will hold office until the 2021 annual meeting of stockholders and the due election and qualification of their respective successors or such nominees' earlier death, removal, or resignation.
I now call upon the Secretary to review the nominees for the company's board of directors in that regard.
As indicated in the company's proxy statement, the board of directors has nominated the following persons: Elizabeth K. Blake, Kerry Byrnes, James R. Brickman, David Einhorn, John R. Farris, Kathleen Olsen, and Richard S. Press. The company's bylaws require that a stockholder provide advance notice to the company of a stockholder's intent to nominate persons as directors. No such notice was received. Accordingly, I declare the nominations for directors closed.
The second item of business today is the ratification of the appointment by the board of directors of RSM US LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2020. The affirmative vote of the holders of at least a majority of the shares of our common stock issued, present, and voting at the annual meeting with respect to this proposal is required to approve the appointment of RSM US LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2020. I now call upon the secretary to review the recommendations of the board of directors in this regard.
I hereby propose the following resolution: that the appointment of RSM US LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2020, be ratified.
Thank you. The third item of business today is the approval on an advisory basis of the compensation of the company's named executive officers. The affirmative vote of holders of at least a majority of the shares of our common stock issued, present, and voting at the annual meeting with respect to this proposal is required to approve on an advisory basis the compensation of the company's named executive officers. I now call upon the secretary to review the recommendation of the board of directors in this regard.
I hereby propose the following resolution: that the compensation of the company's named executive officers, as described in the tabular disclosure regarding such compensation, and the accompanying narrative disclosure set forth in the company's proxy statement be approved on an advisory basis.
Thank you. At this time, I would like to open the meeting to questions on the proposals. As a reminder, please submit your questions by clicking on the message icon. We will address questions on the proposals in the order in which the proposals were presented. Please refer to the rules of conduct for information regarding the question and answer session. The Secretary will read the questions submitted by stockholders on the proposal, and he and I will respond to those questions.
I see no active questions.
Because no further business is scheduled to come before the stockholders, the meeting will consist of the following matters. First, the election of directors to hold office until the 2021 annual meeting of stockholders and the due election and qualification of the respective successors or such nominees' earlier death, removal, or resignation. Second, the ratification of the appointment of RSM US LLP as the company's independent registered public accounting firm. Third, the approval on an advisory basis of the compensation of the company's named executive officers. Each holder of common stock is entitled to one vote for each share of common stock held of record at the close of business, April 28, 2020. As a reminder, if you have not already voted or if you wish to change your vote, you may do so now by clicking on the Cast Your Ballot link. We'll give everybody a second.
Does anybody do anything?
I can't tell.
Okay, great. I declare the polls for each matter voted upon at this meeting closed at 10:11. Today, June 23, 2020, and direct the inspector of elections to tabulate the votes. At this point, the votes have been counted, and we will now report on the preliminary results of the matters voted upon today. I have been advised by the inspector of elections that the following seven persons have received the most affirmative votes for election of directors for the respective slots: Elizabeth K. Blake, Harry Brandler , James R. Brickman, David Einhorn, John Farris, Kathleen Olsen, and Richard S. Press. Accordingly, each of such persons has been elected as a director of the company to hold office until the company's 2021 annual meeting and the due election and qualification of the respective successors or such nominees' earlier death, removal, or resignation.
The inspector of elections has further advised me that the holders of a majority of the shares of our common stock issued, present, and voting at the annual meeting voted in favor of the ratification of the appointment of RSM US LLP to act as the company's independent registered public accounting firm for the fiscal year ending December 31, 2020, and that accordingly, ratification of the appointment of RSM US LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2020, has been approved.
The inspector of elections has further advised me that the holders of a majority of shares of our common stock issued, present, and voting at the annual meeting voted in favor of the approval on an advisory basis of the compensation of the company's named executive officers and that accordingly, the compensation of the company's named executive officers has been approved on an advisory basis. The inspectors of elections will furnish the secretary a written report of the final count with respect to the matters voted on today, which shall be included in the minutes of the meeting. The final results of the meeting will be filed with the SEC on a Form 8-K. I want to thank all of you for attending today's meeting virtually and for your continuing support of Green Brick Partners. The formal portion of our meeting is now adjourned.