Good morning. I am Dirkson Charles, President, Chief Executive Officer, Executive Co-Chairman, and the Director of Loar Holdings. I am very, very happy to welcome you to the Loar 2025 annual shareholder meeting. Before I call the meeting to order, I'd like to introduce you to the other members of the board and my teammates who are with us today. Brett Milgrim, Executive Co-Chairman and member of the board, is in attendance. The other members of the board in attendance today are Mr. David Abrams, our Lead Independent Director, as well as Raja Bobbili, Alison Bomberg, Anthony Carpenito, Chad Crow, Tai Danmola, Margaret McGetrick, and Paul Levy. The executive officers of Loar here today are Glenn D'Alessandro, our Treasurer and Chief Financial Officer, and Mike Manila, our General Counsel and Secretary.
Also present is Jonathan Lipschutz of Ernst & Young, our Auditor, who is available to respond to appropriate questions, and Aslam Rawoof of Benesch Friedlander Coplan & Aronoff LLP, our Outside Counsel. I will be acting as Chairman of the meeting, and Mike Manila will act as Secretary of the meeting. Let's call the meeting to order. The meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in your Notice of Annual Meeting and Proxy Statement. After the formal part of our meeting, we'll give you an opportunity to ask any questions you may have related to today's agenda. Will the Secretary please report at this time with respect to the mailing of the Notice of the Meeting and the stockholders' list?
Good morning. I have at this meeting a complete list of stockholders of record of Loar's capital stock on April 21st, 2025, the record date for this meeting, which is available on the Annual Meeting portal if any stockholder wishes to examine it. I also have an affidavit certifying that on April 22nd, 2025, a Notice of the Annual Meeting of Stockholders of Loar was deposited in the United States mail to stockholders of record at the close of business on April 21, 2025.
Great. At this time, I'd like to introduce Chris Woods of American Election Services, who I'm appointing to act as Inspector of Elections at this meeting. Chris Woods has taken and subscribed the customary oath of office to execute his duties with strict impartiality. We will file this oath with the records of the meeting. His function is to decide upon the qualifications of voters, accept their votes, and when balloting on all matters is completed to tally the final votes. Will the Secretary please report at this time with respect to the existence of a quorum?
I have been informed by the Inspector of Elections that proxies have been received for 66,367,630 of the 93,556,071 shares of common stock outstanding and entitled to vote, which represents approximately 71% of the aggregate voting power of the outstanding shares of capital stock entitled to vote at this meeting. This constitutes a quorum for the meeting today, and we may now carry out the official business of this meeting.
Excellent. We will now proceed with the formal business of the meeting. There are three proposals to be considered by the stockholders at this meeting.
Okay. The time is now 10:04 A.M. Eastern Time on Tuesday, June 3rd, 2025, and the polls are now open for voting on all matters to be presented. The polls will be closed to voting after we go through the matters to be voted on. The agenda and rules of conduct for the meeting are posted on the Annual Meeting portal. We ask that you follow these rules to help the meeting run smoothly. We will address questions related to today's agenda during the Q&A portion of the meeting. If you have a question, please submit it by entering it into the Ask a Question text box on the bottom left-hand corner of the Annual Meeting portal.
The first item of business is the election of four directors to serve until the 2028 Annual Meeting and until their successors are duly elected and qualified. The nominees for director are myself, Dirkson Charles, as well as Anthony M. Carpenito, Taiwo Danmola , and Mr. Paul Levy. The second item of business is the ratification of the selection by the Audit Committee of our Board of Directors of Ernst & Young LLP as the independent registered public accounting firm of Loar for the fiscal year ending December 31st, 2025. The third item of business is the vote to approve the amended and restated Loar Holdings Inc 2024 E quity Incentive Plan
Primarily to remove the limitation contained in the existing plan as it relates to the group of employees eligible to receive grants under the existing plan during the five-year period commencing on our initial public offering, which closed on April 29th, 2024. As of April 21st, 2025, 8,946,429 shares of stock were available for issuance under the existing plan, and we are now asking our stockholders to increase the share reserve under the existing plan.
Yeah. Voting is by proxy via internet voting. If you've already voted, there is no need to vote now unless you would like to change your vote. If you have not voted and you would like to vote now, or if you would like to change your vote, click the Vote Here button at the bottom right-hand corner of the Annual Meeting portal. We'll pause for a moment to give anyone who hasn't yet voted a chance to vote. Each share of common stock is entitled to one vote.
The time is 10:07 A.M. Eastern Time, and the polls are now closed for voting. The preliminary report of the Inspector of Elections covering the proposals presented at this meeting is as follows. Proposal number one, the proposal to elect each of Dirkson Charles, Anthony M. Carpenito, Taiwo Danmola and Paul Levy as the Director is carried. Proposal number two, the selection of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31st, 2025, is ratified. Proposal number three, the proposal to approve the amended and restated Loar Holdings Inc 2024 Equity Incentive Plan is carried. We expect to report our final voting results on a current report on Form 8-K to be filed with the SEC within four business days after the end of this meeting. This concludes the formal portion of today's meeting.
As I can see, there are no questions. Let's adjourn. Thank you, everyone. Appreciate it. Thank you.
This now concludes the meeting. Thank you for joining and have a pleasant day.