Thank you for standing by, and welcome to the Huntsman Corporation special meeting. I will now turn the call over to Peter Huntsman.
Jeannie, thank you very much. Good morning. I would like to welcome you to the Huntsman Corporation 2026 special meeting of stockholders. I am Peter Huntsman, Chairman of the Board of Directors, President, and Chief Executive Officer. It is now just after 9:00 A.M. Central Time, and this meeting is officially called to order. As you know, this meeting is being conducted virtually. We have appointed Natalie Herrstrom of American Election Services, LLC to act as the independent Inspector of Elections today, and she is in attendance. Ms. Herrstrom has taken an oath as the independent Inspector of Elections. The agenda and our rules of conduct for this meeting can be found under the Meeting Materials section of the web portal. To conduct an orderly meeting, we ask you to please abide by these rules.
As stated in the rules of conduct, only shareholders of record or their proxy holders may be heard at this meeting. Our virtual platform allows you to submit questions for the Q&A session at the end of the meeting. You can submit your questions at any time during the meeting. Out of consideration for others, we will limit each stockholder to three questions in the Q&A session, but you may also reach out to our investor relations in the ordinary course, either by telephone or via the Huntsman website. Thank you for your cooperation with these rules. Our first order of business is to determine whether a quorum is present for this special meeting. Ms. Smedley, can you provide us with this report?
Yes, Mr. Chairman. As of the record date of July 9th, 2026, there were 175,381,417 shares of common stock outstanding and entitled to vote at this meeting. Prior to the start of the meeting, we received proxies representing over 76% of the total number of shares of common stock of the company entitled to vote at this meeting.
Thank you. Based on the proxies we received prior to the meeting, we have a quorum, and I declare this meeting to be duly convened for the purpose of conducting such business as may properly come before it. We have an affidavit of distribution demonstrating that notice of the special meeting was duly given. A copy of the notice of the meeting and the affidavit of distribution will be incorporated into the minutes of the meeting. All stockholders of record at the close of business on July 9th, 2026, are entitled to vote at this meeting. Having duly convened this meeting, I will now turn to the business of this meeting by acting on the three matters described in the notice of meeting that was sent with our proxy statement to all stockholders.
The board's recommendation on each of the three matters to be voted on is set forth in the company's proxy statement. Most stockholders have voted on proxy cards in advance of the meeting. As a reminder, you may vote your shares until the polls close by clicking the Vote Here button on your screen. If you voted before the start of the meeting, your vote has already been received and recorded by the Inspector of Elections. Unless you wish to revoke or change your vote, you should not vote again. The first proposal to adopt the agreement and plan of merger dated as of June 15th, 2026, by and among Huntsman Corporation, Olin Corporation, Olympus Merger Sub, Inc., and Hook Merger Sub LLC, providing for the business combination of Huntsman and Olin through the direct merger or the subsidiary merger and the other transaction contemplated thereby.
The board of directors unanimously recommends a vote for the first proposal. Approval of the first proposal requires an affirmative vote of the holders of a majority of the shares of Huntsman common stock outstanding and entitled to vote on the proposal. The second proposal to approve, on a non-binding advisory basis, the compensation that may be paid or become payable to Huntsman's named executive officers that is based on or otherwise related to the merger. The board of directors unanimously recommends a vote for the second proposal. Approval of the second proposal requires the affirmative vote of the majority of voting power of capital stock present in person or represented by proxy at this special meeting and entitled to vote on the proposal.
The third proposal to approve one or more adjournments of this special meeting to a later date or time, if necessary or appropriate, including adjournments to permit the solicitation of additional votes or proxies if there are not sufficient votes cast at this special meeting to approve the first proposal. The board of directors unanimously recommends a vote for the third proposal. Approval of the third proposal requires the affirmative vote of the majority of voting power of capital stock present in person or represented by proxy at this special meeting and entitled to vote on the proposal. Under the procedure set forth by our bylaws, no other matters may be presented at this meeting, so that completes the items to be voted on at this meeting. It is now six minutes after 9:00 A.M. Central Time.
As there are no other matters for consideration, I declare the polls to be open and will proceed with the voting on the three matters presented at this meeting. Ms. Smedley will review the voting procedures.
Thank you, Mr. Chairman. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action at this time. Any stockholder who has not yet voted or who wishes to change a prior vote may do so by clicking on the Vote Here button on the web portal through which you accessed this meeting and following the instructions there. There will now be a brief pause while we allow stockholders to vote. It is now 9:07 A.M. Central Time, and it appears that everyone has had the opportunity to vote, Mr. Chairman.
Very well. Accordingly, the polls for voting on the matter before this meeting are hereby closed. Ms. Smedley, would you now present the preliminary report to the Inspector of Elections?
Yes, Peter. We have been informed by the independent Inspector of Elections that the preliminary vote report shows that, one, stockholders have approved the first proposal to adopt the agreement and plan of merger. Two, stockholders voting on a non-binding advisory basis have approved the second proposal to approve the compensation related to the merger. And three, since the first proposal was approved, a vote on the adjournment proposal will not be called. We will file a Form 8-K with the SEC announcing the final voting results after we receive a report from the independent Inspector of Elections.
Thank you very much, Amy. This concludes the business portion of our meeting. Thank you for attending today's meeting. The formal business portion of this meeting is now adjourned. We will now open the floor to questions from stockholders. Only questions that are germane to this meeting will be addressed. Additionally, as I've indicated at the outset of this meeting, each stockholder is limited to three questions. We'll now give a brief pause to see if there are any questions. Given that there are no questions, comments, or other business to come before the meeting, we are now adjourned, and we'll close the meeting. Thank you for being a Huntsman stockholder and attending this special meeting today.
This concludes today's meeting. You may now disconnect.