Good morning and welcome to Inspire Medical Systems 2021 Annual Meeting of Stockholders. I'd like to hand things off to our first presenter, Tim Herbert, President and Chief Executive Officer of Inspire Medical Systems Inc. Tim?
Good morning. I am Tim Herbert, President and CEO of Inspire Medical Systems, a member of the Board and the chairperson of today's meeting. I'm very happy to welcome you to our 2021 Annual Meeting of Stockholders. Consistent with our corporate values and commitment to innovative approaches to enhancing shareholder value, we are pleased to again host this year's annual meeting virtually. While the meeting is virtual only, we do still welcome questions from our stockholders.
When we come to the question and answer portion, we will answer questions from stockholders. You can submit your live questions through the text box located on your screen. Our annual meetings afford me the opportunity to express my sincere appreciation to our shareholders for the support and trust you have placed in us. As we all know, 2020 was a challenging year and I could not be more proud of the resolve demonstrated by the Inspire team. Every day, our employees work in service of our mission, working to expand the adoption of Inspire therapy and positively impacting the lives of patients with untreated obstructive sleep apnea.
I look forward to providing you with more detailed updates on our business and recent financial performance at our upcoming earnings call. Before we call the meeting to order, I'd like to introduce you to the other members of the Board of Directors who are with us today. The other members of the Board joining us today are Marilyn Carlson Nelson, who is the Chair of our Board of Directors, Shelley Broader, Doctor. Jerry Griffin, Sean McCormick, Dana Mead and Casey Tansey. We also have several members of our management team who have joined us for the meeting, including the following officers, Randy Bann, our Chief Commercial Officer Rick Buchholz, our Chief Financial Officer Phil Ebling, our Chief Operating Officer Steve Jandrich, our Vice President of Human Resources and Brian Phillips, who joined Inspire in January of 2021 as Senior Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer.
Brian will oversee the formal portion of today's meeting. I would also like to introduce Doug Hunter of Ernst and Young, the company's independent auditor, who is available to respond to questions. Before we begin, I would like to invite Marilyn Carrollton Nelson, the Chair of the Board of Directors to make a few comments.
Thank you, Tim. Good morning, everyone. As Tim noted in his remarks, 2020 was a challenging year, in large part because of the adverse impact of the COVID-nineteen pandemic and the impact that it had on lives across the globe. No business or industry has been immune to the effects of this pandemic and Inspire is no exception. Despite these challenges, 2020 has been another successful and gratifying year at Inspire.
We've continued our focus on fulfilling our mission and reinforcing our mission driven culture. All of us are committed to improving the lives of the patients who receive INSPIRE therapy. Obstructive sleep apnea is a debilitating disease. It impacts a patient's quality of life and increases the risks of other very serious health conditions. We have significant opportunity ahead of us with the growing awareness and the growing adoption of Inspire therapy.
On behalf of the entire Board of Directors, I would like to very sincerely thank all of our employees for their commitment, their caring and their hard work on behalf of our patients. I would also like to thank our shareholders. Your investment in Inspire furthers our mission to increase awareness and delivery of Inspire therapy and its life enhancing benefits. Now, I will turn it over to Brian, and Brian can officially open this meeting.
Thank you very much, Marilyn. The meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in the notice of annual meeting and proxy statement. Upon joining the meeting, an agenda for the meeting should have become available on your screen. Also available at the bottom of your screen is a list of the rules of conduct for the meeting.
To conduct an orderly meeting, we ask that participants abide by these rules. Our Board of Directors set March 4, 2021 as the record date for those stockholders entitled to vote at this meeting. We have a certified list of stockholders of the company as of the close of business on the record date who are entitled to notice of and to vote at this meeting. The list was available for inspection at our corporate headquarters for 10 days prior to this meeting and for stockholders that have entered a valid 16 digit control number, the stockholder list is also available during this meeting on the bottom panel of your screen. I also have an affidavit of mailing establishing that notice of this meeting was first distributed or made available on March 16, 2021 to all stockholders of record of the company as of the close of the record date.
A copy of the notice of meeting and the affidavit of mailing will be included with the minutes of this meeting. At this time, I'd like to introduce Tony Caradeo, a representative of Broadridge Investor Communication Services, who will serve as the Inspector of Election at today's meeting. Mr. Caradeo has signed the customary oath of office to execute its duties with strict impartiality. We will file this oath with the records of the meeting.
Mr. Caradeo has informed me that a quorum is present. Therefore, I hereby declare this meeting to be duly constituted for the transaction of business. We will now proceed with the formal business of this meeting. The polls are open on April 29, 2021, this morning at 8 o'clock Central Time for voting on all matters before the meeting.
If you have not already voted and wish to vote, the polls will remain open until we finish presenting the proposals and close the polls. The voting is by proxy and for those voting during the meeting, online ballot. You do not need to vote during the meeting if you have already voted and do not wish to change your vote. There are 4 proposals to be considered by stockholders at today's meeting. The company recommends that the stockholders vote for each of the director nominees named in the first proposal and for the 2nd and third proposals.
The first item of business is the election of Marilyn Carlson Nelson, Doctor. Jerry C. Griffin and Casey M. Tanzi to serve as Class III Directors of the company to hold office until the annual meeting of stockholders to be held in 2024 and until their respective successors have been duly elected and qualified. The plurality of votes cast, meaning that the 3 nominees receiving the highest number of affirmative 4 votes is the voting standard for this item of business and is required for each of the nominees to be elected as Class III directors.
In accordance with the advanced notice provision in our bylaws, stockholders are required to provide advanced notice of their intent to nominate candidates for directors. No such notice was received. Therefore, I declare the nominations for directors closed. A motion to elect 3 directors is now in order. The second item of business is the ratification of the Audit Committee's appointment of Ernst and Young as our independent registered public accounting firm for our 2021 fiscal year.
The affirmative vote of the holders of a majority in voting power of the votes cast affirmatively or negatively excluding extensions at this meeting entitled of shareholders entitled to vote on this item of business is required for the approval of this proposal. The 3rd item of business is the approval on a non binding advisory basis of the compensation of our named executive officers. The affirmative vote of the holders of a majority and voting power of the votes cast affirmatively or negatively, excluding extensions at this annual meeting by the holders entitled to vote on this item of business is required for the approval of this proposal. That was the final proposals for today's meeting. At this time, if there are any questions on the proposals, please submit your questions via the question and answer text box on the Annual Meeting page.
We are happy to respond to any questions regarding the 3 proposals. However, we will not be responding to questions on other topics. We remind everyone that we will be holding our next quarterly earnings call at 5 pm Eastern Time on May 4 to discuss our financial results for the Q1 of 2021 and recent business developments. The time is now 8:12 am Central Time on the day of the meeting and the polls are now closed for voting. The Inspector of Elections will count the votes.
Thank you. Based on the preliminary report of the Inspector of Elections, each of Maryland Carlson Nelson, Doctor. Jerry C. Griffin and Casey M. Tansey have been elected as directors to serve until our annual meeting to be held in 2024.
The appointment of Ernst and Young as our independent registered public accounting firm for our 2021 fiscal year has been ratified and the compensation of our named executive officers has been approved on a non binding advisory basis. The final tally of the votes will be published within 4 days and a current report on Form 8 ks to be filed with the Securities and Exchange Commission. It is now 813 and the meeting has concluded and is now adjourned. And with that, I want to thank you for attending our 2021 Annual Meeting of Stockholders and also thank you for your continued support of Inspire Medical Systems. Have a great day.