I would like to call the meeting to order. Good morning, and welcome to the 2026 Annual Meeting of Shareholders of Lincoln Electric Holdings, Inc. I'm Steven Hedlund, Chairman and Chief Executive Officer of Lincoln Electric and Chairman of this meeting. The first order of business this morning is the introduction of our director nominees. All of our directors are on the line and in attendance.
The director nominees standing for election at this year's annual meeting to serve until the 2027 annual meeting are Curtis Espeland, our Lead Independent Director, Brian Chambers, Joy Falotico, Bonnie Fetch, Patrick Goris, Michael Hilton, Marc Howze, Kathryn Jo Lincoln, Ben Patel, and I am also a nominee. I would like to acknowledge Phillip Mason, who is retiring at this year's annual meeting.
Mr. Mason has served as a valued member of our board since 2013, and we are very grateful for his many years of dedicated and outstanding service. Representatives from Ernst & Young LLP, the company's independent registered public accounting firm for 2025, are also on the line. They do not wish to make a formal statement, and no auditor questions were submitted online prior to the meeting.
We will now proceed with the formal business of the meeting. I hereby appoint Tracy Oates, on behalf of Broadridge, as the Inspector of Election at this meeting. Jennifer Ansberry, General Counsel and Secretary of Lincoln Electric, will act as Secretary of the meeting. After the proposals are properly presented and voted upon, the Inspector of Election will announce the results. At this time, I ask the Secretary to report on the Affidavit of Distribution.
Mr. Chairman, I have the Affidavit of Distribution from Broadridge as mailing agent, confirming that notice of this meeting was provided to shareholders of record as of February 27th, 2026, and that the proxy statement and proxy voting form were mailed on or about March 19th, 2026.
Please incorporate the Affidavit of Distribution and related proxy materials into the minutes of this meeting. The Secretary has certified the list of registered shareholders as of the record date, February 27, 2026. The list is available for inspection during the meeting through the website used to access the meeting and will be filed with the company's records. Ladies and gentlemen, many of you have already submitted your voting instructions by proxy or through the trustee of the company's 401(k) plan. Is the inspector ready to report as to the existence of a quorum?
Mr. Chairman, on February 27, 2026, the record date for this annual meeting, there were 54,823,762 outstanding common shares entitled to vote. There are present, by valid proxy, holders of at least a majority of the common shares, constituting a quorum.
Thank you. I declare that a quorum is present, and we may proceed with the meeting. The polls are currently open. Any shareholder who has not yet voted or who wishes to change their vote may do so by clicking the voting button on the web portal and following the instructions provided. Shareholders who do not wish to change their vote do not need to take any further action.
The matters to be voted upon are described in the proxy statement. No shareholder questions were submitted regarding the proposals prior to the meeting. Proposal 1 is the election of directors. The Board of Directors recommends that the following individuals be elected to serve as directors until the 2027 annual meeting. Brian Chambers, Curtis Espeland, Joy Falotico, Bonnie Fetch, Patrick Goris, Michael Hilton, Marc Howze, Kathryn Jo Lincoln, Ben Patel, and myself. All nominees have been elected previously by the shareholders.
Proposal two is the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. Proposal three is an advisory vote to approve the compensation of our named executive officers as described in proposal three of the proxy statement.
The polls are about to close, so if you've not yet voted, please do so. Now that all shareholders have had the opportunity to vote, I declare the polls closed at 11:06 A.M. Eastern Time. I call upon the Inspector of Elections to please report the preliminary voting results.
Mr. Chairman, the Inspector of Election reports that a majority of votes cast were voted in favor of each proposal.
Thank you. I declare that all director nominees have been duly elected as directors of the company. The appointment of Ernst & Young has been ratified, and Ernst & Young will be in charge of our 2026 independent audit, and the compensation of our Named Executive Officers has been approved on an advisory basis.
We will report the final vote results to the SEC within four business days of today's meeting. There being no further business to come before the meeting, the 2026 Annual Meeting of Shareholders of Lincoln Electric Holdings, Inc is now...