Thank you for attending the twenty twenty one Annual Meeting of Stockholders for Liberty Broadband. I will now turn the meeting over to the Chairman of the Board, John Malone. Good
morning, and welcome to the twenty twenty one Annual Meeting of Stockholders of Liberty Broadband. I'm John Malone, Chairman of the Board. I'll act as Chairman of this meeting. On behalf of the directors and senior officers of the company, I want to thank you for taking the time to attend this annual meeting. We appreciate your continued interest in Liberty Broadband.
At this time, I'd like to introduce the company's corporate secretary, Kate Jewell, who will act as secretary of this meeting and will say a few words about our twenty twenty one annual meeting procedures.
Thank you, mister chairman. To conduct this virtual meeting in an orderly fashion, we expressly direct your attention to the rules of conduct located on the virtual meetings portal. Only Liberty Broadband stockholders are We thank you in advance for helping us conduct the twenty twenty one annual meeting in accordance with the plan.
Thank you, Kate. We'll now proceed with the formal items of business. Chris Amrain of American Election Services has been appointed to serve as the inspector of election. We are here today to vote upon each of the proposals described in the notice of annual meeting and proxy statement. Has the inspector of election tabulated the number of shares here today present via the virtual meeting portal or represented by proxy?
Mr. Chairman, based on information received from Broadridge, shares of the company Series A common stock, Series B common stock, and Series A cumulative redeemable preferred stock representing the majority of the aggregate voting power of such stock outstanding on the record date are present via the virtual meeting portal or represented by the actual. Therefore, a quorum is present for this.
Thank you, Kate. As reported, a quorum is represented here today. Therefore, the annual meeting is formally called to order. Copies of the list of stockholders entitled to vote at the meeting and a notice of annual meeting and proxy statement relating to the annual meeting are available on the virtual meeting portal. As stated in the notice of annual meeting and proxy statement, stockholders will vote on five proposals, each of which will be described in turn.
Proposal one is a proposal to elect Julie Frist and Dave Vargo to continue serving as class one members of our board of directors until the twenty twenty four annual meeting of stockholders or until their earlier resignation or removal. Ms. Frist and Mr. Vargo have been nominated by the board's nominating and corporate governance committee, and no other nominations were made in accordance with the company's bylaws. Their biographies may be found on Page ten and eleven of the proxy statement.
The meeting is now open for any questions concerning the director nominees. Kate, please confirm we have not received any questions.
Mister chairman, we have not received any questions.
Therefore, proposal two is a proposal to ratify the selection of KPMG LLP as our independent auditors for the fiscal year ending 12/31/2021. Blaine Versaw, a partner with KPMG LLP, is prepared to respond to appropriate auditing questions. Kate, please confirm we have not received any questions for KPMG.
Mister chairman, we have not received any questions for KPMG.
The say on pay proposal is a proposal to approve on an advisory basis the compensation of our named executive officers as described in the proxy statement under the heading executive compensation. The meeting is now open for any questions concerning the save on pay proposal. Kate, please confirm we've not received any questions.
Mr. Chairman, we have not received any questions.
Proposal four is a proposal to approve on an advisory basis the frequency at which future stay on pay votes will be held. Then that meeting is now open for any questions concerning stay on frequency proposal. Eight, please confirm we have not received any questions.
Mister chairman, we have not received any questions.
Move on to five, a proposal requesting that our board provide for a majority vote standard in uncontested director elections. If properly presented at this meeting, I would now like to introduce Todd Matley, associate investment manager of CalPERS, the stockholder proponent. Mister Matley will have three minutes to present.
Mister Matley, your line is now open.
Good morning. My name is Todd Matley with the California Public Employees Retirement System. Thank you for the time today. We'd like to enter formally enter proposal number five, requesting majority vote for director elections at Liberty Broadband. We simply believe that the current plurality vote mechanism for uncontested elections is not a share on a friendly process.
And we request that sharing is approved, giving the ability for director to be elected by majority vote. Thank you for the time today.
You, mister Natalie.
Go ahead, John. Please continue.
Okay. Thank you, Kate. The meeting is now open for any questions concerning the stockholder proposal. Kate, please confirm we have not received any questions.
Mister chairman, we have not received any questions.
The voting requirements for each of the proposals are described in the proxy statement. The board of directors recommends that you vote for each nominee listed in proposal one for proposal two or proposal three in favor of three years for proposal four and against proposal five. The time is now 09:09AM on 05/26/2021, and the polls are now open for voting on each of the proposals. If you desire to vote at this meeting, you can do so via the virtual meeting portal. If you have previously voted by proxy, you do not need to vote today unless you wish to change your vote.
Kate, please confirm the virtual meeting portal is recording any votes. I should say is not recording any votes.
Mister chairman, the virtual meeting portal has recorded any votes submitted today.
The time is still 09:09AM on 05/26/2021, and the polls for voting on each of the poses are now officially closed. Has the inspector of election tabulated the votes represented here and by proxy on each of the proposals?
Mister chairman, the inspector of election has completed the tabulation of votes and has certified that based on preliminary results, the requisite number of shares has been voted in favor of the election of Ms. Fritz and Mr. Borgo, in favor of proposal two, in favor of proposal three, in favor of three years for proposal four and proposal five.
Based on preliminary results, Ms. Frist and Mr. Wardro have been duly elected as class one members of our board of directors. Proposal two and three have been approved. The frequency of every three years has been approved.
Proposal four and proposal five has not passed. This concludes the scheduled business as presented in the notice of annual meeting and proxy statements. Is there any other business to properly come before the meeting? Please confirm that we have not received any motions for other business.
Mister chairman, we have not received any motions.
At this time, I'd like to adjourn the annual meeting. I'd like to thank you for your attendance at this meeting and your continued interest in our company. The twenty twenty one Annual Meeting of Stockholders is now adjourned.
Thank you, Mr. Chairman. That concludes the Liberty Broadband annual meeting of stockholders.