Good morning. Welcome to the annual stockholders meeting of Gladstone Land Corporation for the year ended December 31st, 2025. I'm Catherine Gerkis, Director of Investor Relations and ESG. With me is the following representative of the company, Erich Hellmold, our Co-General Counsel and Co-Secretary, who will act as secretary of this meeting.
The meeting will now officially come to order. We will proceed with the business of the meeting as set forth in your notice of annual meeting proxy statement.
Will the secretary, Mr. Hellmold, please report the mailing of the notice of the meeting and the stockholders list?
We have in our possession a complete list of the holders of record of the company's common stock as of the close of business on March 20th, 2026, the record date for this meeting. I also have an affidavit certifying that on March 27th, 2026, a notice of the annual meeting of stockholders of the company was mailed to all stockholders of record at the close of business on March 20th, 2026. Lewis Parrish and Michael LiCalsi have been appointed as inspectors of election at the meeting. Broadridge has tabulated the votes, and the inspectors and their staff have been in close contact with the representatives from Broadridge to get the vote tally. The inspectors have also taken and subscribed to the customary oath of office to impartially execute their duties. The oaths will be filed with the records of the meeting.
The inspector's function is to decide upon the qualifications of voters, accept their votes, and at the end of balloting, to tally the final votes. The inspectors of election have informed the company that proxies have been received for 29,387,610 of the 41,704,321 shares of the common stock outstanding as of the close of business on the record date. This represents approximately 70.46% of the total number of outstanding shares. This constitutes a quorum for the meeting today, and we may now carry out the official business of the meeting. If there are any additional proxies to be submitted, please vote your shares through the portal at this time.
We will now proceed with the business of this meeting. There are two matters scheduled for a vote at this meeting. The matters are, first, the election of two directors to hold office until the 2029 annual meeting of stockholders and until their successors are duly elected and qualified, and the ratification of the Audit Committee's selection of PricewaterhouseCoopers LLP, as our independent registered public accounting firm for our fiscal year ending December 31st, 2026.
The time is now 11:02 on May 14th, 2026. The polls are now open for voting on all matters. Polls will be closed to voting after we go through the matters. The first item of business is the election of two directors to serve until the 2029 annual meeting and until their successors are duly elected and qualified. The nominees for directors whose terms will expire in 2029 are David Gladstone and John Outland. The second item of business is the ratification of the Audit Committee's selection of PwC as our independent registered public accounting firm for our fiscal year ending December 31st, 2026. Voting is by proxy and written ballot. You do not need to vote through the portal for the meeting today if you have already voted. Each share of common stock is entitled to one vote.
The time is now 11:03 and t he polls are now closed for voting. The report of the inspectors of election covering the proposals presented at this meeting is as follows. Proposal 1, to elect David Gladstone and John Outland to the board of directors for a term of three years that will expire at the 2029 annual meeting is carried. Proposal 2, the proposal to ratify the Audit Committee's selection of PwC as our independent registered public accounting firm for our fiscal year ending December 31st, 2026 is carried. A full tally of the votes will be published in a Form 8-K, which will be filed with the SEC within a few days of today's meeting.
That is the end of the business on the agenda of the stockholders meeting. We want to thank all of you for calling into our annual stockholders meeting. The time is now 11:04 , and this meeting is adjourned.
This concludes today's meeting. You may now disconnect.