Good morning. I am David Lazar, Director, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, and President of Kala Bio, Inc. On behalf of the board of directors, it is my pleasure to welcome you to our 2025 annual meeting of stockholders. I've been advised that a quorum is present, and this meeting is now called to order. We will start today the business portion of the meeting. Following the voting, we will be glad to take your questions. Turning to the business of the meeting and a few housekeeping items. First, upon entering the virtual meeting room, you should be able to see the meeting agenda and meeting rules displayed on the top right-hand side of your screen. Questions or comments by the stockholders on the proposals may be submitted at any time and will be read out loud once the proposals have been presented.
There will also be time at the end of the meeting for general questions and comments. I have an affidavit that provides that the proxy statement and proxy card were made available on or about December 30th, 2025, to stockholders of record as of the close of business on December 30th, 2025, and that notice of this meeting was first mailed on December 30th, 2025. Matthew McMurdo will serve as an inspector of election for this meeting. There are seven items on the agenda today for consideration. The details of the proposals are set forth in the proxy statement that was made available to you. The polls are now open for voting. If you have already submitted a proxy card or voting instruction card, there is no need to vote today electronically.
If you have not yet voted or wish to change your earlier vote, you may do so at this time by voting your shares electronically. Follow the instructions on your screen. After votes have been submitted, the polls will close. Now read the preliminary voting results. All electronic ballots submitted at this meeting will be included in the final voting results, which will be disclosed in a Form 8-K that we expect to file with the Securities and Exchange Commission on or before February fifth. The first item of today's business is the election of Class II directors. If elected today, Mr. Mark Iwicki, Mr. Todd Bazemore, and myself, Mr.
David Lazar will serve as Class II members of the board of directors until our terms expire at the company's 2028 annual meeting, and until their successors have been duly elected and qualified or until their earlier death, resignation, or removal. The board recommends a vote for each of the nominees. The second item of business is to approve on a non-binding advisory basis the compensation of the company's named executive officers. As disclosed in the proxy statement, pursuant to Item 402 of Regulation S-K, including the compensation tables and the narrative discussion related thereto, the board recommends that you vote for this proposal. The third item of business is the ratification of the selection of HCL International LLC as the company's independent registered public accounting firm for the fiscal year ending December 31, 2025.
The board recommends that you vote for this proposal. The fourth item of business is to authorize, for purpose of complying with Nasdaq listing Rule 5635(b) and 5635(b), the issuance of shares of our common stock upon conversion of our Series AA convertible preferred stock and Series AAA convertible preferred stock. The board recommends that you vote for this proposal. The fifth item of business is to approve an amendment to our amended and restated certificate of incorporation, as amended, to increase the number of authorized shares of the common stock from 125 million shares of common stock to 1.5 billion shares of common stock. The board recommends that you vote for this proposal.
The sixth item of business is to authorize the company's board of directors to amend the company's restated certificate of incorporation, as amended, to effect one reverse stock split of the company's outstanding common stock at any ratio between 1-for-2 and 1-for-100, at such time as our board of directors shall determine in its sole discretion. The board recommends that you vote for this proposal. The seventh item of business is to approve the adjournment or postponement of the annual meeting, if necessary, to continue to solicit votes for the above-mentioned proposals. If necessary, the board recommends a vote for this proposal. Are there any comments or questions regarding any of the items of business?
No questions are on the portal.
There being no further discussion, please make your final vote selections. As everyone has now had the opportunity to vote electronically, I declare the polls closed. I'm advised by the Inspector of Election that based upon the preliminary count of shares voted, the results are as follows: For item one, each nominee received a plurality of the votes cast in favor of his election, and therefore each has been elected. For item two, the affirmative vote of the holders of the shares of common stock, representing a majority of the votes cast by holders of all shares of common stock present in person or represented by proxy at the meeting, and voting affirmatively or negatively, was voted in favor of the proposal, and therefore it has passed.
For item three, the affirmative vote of the holders of shares of common stock, representing a majority of the votes cast by holders of all shares of common stock present in person or represented by proxy at the meeting, and voting affirmatively or negatively, was voted in favor of the proposal, and therefore it has passed. For item four, the affirmative vote of a majority of the votes cast by holders of shares of common stock present in person or represented by proxy at the meeting, and voting affirmatively or negatively, has voted in favor of the proposal, and therefore it has passed. For item five, the affirmative vote of majority of the votes cast by holders of shares of common stock present in person or represented by proxy at the meeting, and voting affirmatively or negatively, was voted in favor of the proposal, and therefore it has passed.
For item six, the affirmative vote of a majority of the votes cast by holders of shares of common stock present in person or represented by proxy at the meeting, and voting affirmatively or negatively, was voted in favor of the proposal, and therefore it has passed. As an adjournment is not necessary, no action was required with respect to item seven. The business portion of this meeting is now adjourned. I will now take stockholders' questions and comments. As it occurs to everyone present-
On the portal.
Thank you. I appreciate everyone joining us today. The meeting is adjourned. Thank you.