Good day, thank you for standing by. I would now like to turn the call over to Nimrod Ben-Natan, President and Chief Executive Officer of Harmonic. Please go ahead.
Good morning. I'm Nimrod Ben-Natan, President and CEO of Harmonic, and welcome to our 2026 Annual Meeting of Stockholders. We are pleased that you could join our virtual annual meeting with our stockholders participating exclusively via our web portal and by telephone. Your interest in Harmonic is very much appreciated. I will now call the meeting to order. First, I would like to introduce members of the Harmonic team that are with me today.
Walter Jankovic, Harmonic's Chief Financial Officer, and Tim Chu, Harmonic's General Counsel, SVP of Human Resources, and Secretary. I would also like to introduce the Harmonic Board Members attending the annual meeting. Deborah Clifford, Dana Crandall, Neel Dev, Patrick Gallagher, and David Krall. In addition, joining us today, Kathy Wheadon, the Inspector of Elections. As president, I will preside over the meeting, and Tim Chu will act as Secretary. I will now turn the meeting over to Tim.
Thank you, Nimrod. Before I begin, I would like to remind participants that recording of this meeting on any device is prohibited. I will first report on the presence of a quorum at this meeting. The record date for the determination of holders of Harmonic's common stock entitled to vote at this meeting was April 8th, 2026. Copies of the notice of annual meeting, proxy statement, and form of proxy were duly and properly mailed to stockholders on or about April 24th, 2026. I've been given affidavits of mailing by the company's transfer agent, which will be filed with the minutes of this meeting. In addition, a proxy statement amendment and updated form of proxy were duly and properly mailed to stockholders on or about May 18th, 2026.
As of the close of business on the record date, there were 108,477,403 shares of common stock entitled to be voted at this meeting. Each share is entitled to one vote. A quorum exists if the holders of a majority in voting power of Harmonic's common stock, issued and outstanding and entitled to vote at this meeting, is present in person or represented by proxy. There are no other securities entitled to vote at this meeting. On a preliminary count, the holders of a majority in voting power of Harmonic's common stock, issued and outstanding and entitled to vote at this meeting, are present at this meeting in person or by proxy. Accordingly, the meeting is duly convened and may proceed.
Regarding our Inspector of Election, Ms. Wheadon has been appointed as Inspector of Election to supervise the vote at this meeting, and she has taken the oath of office, which will be filed with the minutes of this meeting. Ms. Wheadon has been appointed for the purpose of determining the validity of proxies and ballots, counting all votes and ballots, and certifying determination of the number of shares represented at this meeting and the count of all votes and ballots. We will now proceed with the formal business of the meeting. I will now briefly review the procedures that will be followed during this meeting. There are five items of business to be voted on today. Information concerning these items was contained in Harmonic's Proxy Statement furnished in connection with this meeting.
After I introduce the items of business to be voted on, there will be an opportunity for your questions and comments concerning the proposals to be voted on. As a reminder, only stockholders as of the record date who have entered their control numbers will be able to submit questions via our meeting web portal. After the question and comment period, the polls will be open for voting online through our meeting web portal. If you have previously voted by proxy and do not wish to change your vote, you will not need to take further action. Once the formal portion of the meeting has concluded, Nimrod will provide a brief overview. We'll then address questions related to our business that have been submitted through our web portal. First item of business at this meeting is the election of seven directors, each to serve a term of one year.
The nominees for election designated by Harmonic's Board of Directors are as follows: Nimrod Ben-Natan, Deborah Clifford, Stephanie Copeland, Dana Crandall, Neel Dev, Patrick Gallagher, and David Krall. The Board of Directors recommends a vote for each of the seven director nominees. The second item of business at this meeting is an advisory vote on Harmonic's named executive officer compensation. The Board of Directors recommends a vote in favor of Harmonic's executive compensation. The third item of business is an advisory vote on the frequency of future stockholder advisory votes to approved named executive officer compensation. The Board of Directors recommends a vote in favor of holding future stockholder advisory votes on named executive officer compensation every year. The fourth item of business is an amendment to Harmonic's 2025 Equity Incentive Plan to increase the number of shares of common stock reserved for issuance thereunder by 3 million shares.
The Board of Directors recommends a vote in favor of the amendment to Harmonic's 2025 Equity Incentive Plan. The fifth item of business at this meeting is the ratification of Ernst & Young LLP as Harmonic's independent registered public accounting firm for its fiscal year ending December 31, 2026. Board of Directors recommends a vote in favor of the ratification of Ernst & Young LLP. Back to you, Nimrod.
Thank you, Tim. We will now proceed to the question -and -comment period related to the five items of business to be considered at this meeting. If you have a question regarding any of the proposals, please submit it through the meeting web portal. We will pause briefly to allow for any submissions.
I can confirm, Nimrod, that no questions have been submitted through the portal.
We are now ready to vote on the matters before this meeting. The polls are now open. You may vote via our meeting portal by following the instructions on the site. Please be reminded that if you have previously voted by proxy and do not wish to change your vote, you do not need to take any further action at this time. Now that everyone has had an opportunity to vote, I declare the polls closed. At this time, all of the proxies and ballots are in custody of the Inspector of Elections. I now ask the Secretary to report on the results of voting.
Based on the preliminary report of the Inspector of Election, stockholders, one, have voted to elect all seven nominees to the Board of Directors. Two, have approved on an advisory basis Harmonic's executive compensation. Three, have approved on an advisory basis holding future stockholder advisory votes on named executive officer compensation every year. Four, have approved an amendment to Harmonic's 2025 Equity Incentive Plan. Five, have ratified the appointment of Ernst & Young LLP. The Inspector of Election will execute a certificate as to the results of the voting, and that certificate will be filed with the minutes of this meeting.
Thank you. The final voting tabulations will be included in a filing with the Securities and Exchange Commission, which will be made shortly. This concludes the formal portion of the meeting, and the meeting is now adjourned. I will now provide a brief overview of Harmonic's business. Harmonic is off to a strong start in 2026, and our first quarter results validated the strategy we set out at the start of the year. We continue to diversify our broadband customer base with new wins, building on accelerating momentum in fiber, broadening global adoption, and continued traction in the transition to DOCSIS 4.0. We are also expanding our intelligence layer with new high-value services that move operators towards autonomous networks and elevate the subscriber experience.
In an era where AI is making broadband capacity and quality of service even more essential, we see a substantial multi-year opportunity ahead. We are building a uniquely focused broadband company with multiple growth drivers to capture it. With that, I will now pause for any shareholder questions about our business.
No questions have been submitted, Nimrod.
This concludes our proceedings. We express our sincere appreciation to those stockholders who attended this meeting via the internet or by telephone, as well as those who submitted their proxies. We are grateful for your support of Harmonic. Have a good day.
Ladies and gentlemen, this concludes the meeting. You may now disconnect.