Welcome to Lyft's 2024 Annual Meeting of Stockholders. I would now like to turn the call over to Lindsay Llewellyn, Lyft's General Counsel, who will lead the formal business and serve as the Secretary of today's meeting. Ms. Llewellyn, please go ahead.
Thank you, operator. I'm going to start by introducing the individuals joining me on today's call. This includes David Risher, our Chief Executive Officer, Erin Brewer, our Chief Financial Officer, and our Head of Investor Relations, Sonia Banerjee. Ergun Genc of PricewaterhouseCoopers LLP, our independent registered public accounting firm, is also on the line, and we are joined by members of our board of directors and other members of our management team. We have appointed Kevin Chen, our Assistant Secretary, to act as the Inspector of Election today. He has executed an oath of office to carry out his duties with strict impartiality and to the best of his ability. He will also examine and tabulate the proxies and ballots at this meeting. During the formal business portion of today's meeting, we will address the matters described in our 2024 proxy statement and vote on the proxy proposals.
We will then announce preliminary voting results and adjourn the formal portion of this meeting. Afterward, we will provide time for a Q&A session. Please refer to the rules of conduct regarding the meeting for information about the Q&A session. Note that the meeting is being recorded, and a webcast replay will be available shortly. Our board of directors has fixed April 19, 2024, as the record date for determining stockholders entitled to vote at this meeting. I have an affidavit of distribution from Broadridge Financial Solutions, confirming that proxy materials were mailed to stockholders of record, determined as of the close of business on the record date, starting on April 25, 2024. Mr.
Chen reports that the holders of a majority of the combined voting power of our Class A Common Stock and Class B Common Stock outstanding as of the record date are present at the meeting, either virtually or by proxy, which constitutes a quorum. Therefore, today's meeting is duly convened and open for business. It's approximately 1:32 P.M., and the polls are now open. If any stockholders have not yet voted or wish to change their vote, please click on the voting button in the web portal and follow the instructions. If you have already sent in a proxy or voted online or via telephone and do not wish to change your vote, no further action is needed. There are three proposals to be considered and voted on by our stockholders.
Each of these proposals is more fully described in our proxy statement filed with the SEC on April 25, 2024. The first proposal is to elect three Class II directors, David Lawee, Janey Whiteside, and John Zimmer, to serve until our 2027 Annual Meeting of Stockholders and until their successors are duly elected and qualified. No other director nominees have been submitted pursuant to our bylaws, so no other nominations are being considered. Each of the three director nominees is currently serving on our board, and our board of directors recommends a vote for each of these director nominees. The second proposal is to ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024. Our board of directors recommends a vote for this proposal.
The third and final proposal is to approve, on an advisory basis, the compensation of our named executive officers. Our board of directors recommends a vote for this proposal. The polls are still open. If you have not yet voted or wish to change your vote, you may do so now by clicking on the voting button in the web portal and following the instructions. We will leave the polls open for another minute to allow votes to be cast. It is approximately 1:35 P.M. Pacific, and the polls are now closed. No additional ballots, proxies, or votes, and no changes or revocations will be accepted.
Based on preliminary voting results, our stockholders have elected David Lawee, Janey Whiteside, and John Zimmer to serve as directors until the 2027 Annual Meeting of Stockholders and until their successors are duly elected and qualified, ratified the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024, and approved, on an advisory basis, the compensation for our named executive officers. These are preliminary results. The final voting results will be set forth in a report of the Inspector of Election and will be included in the minutes of this meeting. We will also report the final voting results on a Form 8-K, which we will file with the SEC within 4 business days of today's date. ... This concludes our planned agenda today. I now declare the formal business portion of the meeting adjourned.
We will now answer stockholder questions received through the web portal. I'll turn it over to Sonia Banerjee, our Head of Investor Relations, to oversee this Q&A session.
Thank you, Lindsay. Before we begin, I'd like to note that our responses to stockholder questions may include forward-looking statements, which are subject to risks and uncertainties that could cause our actual results to differ materially from those projected or implied during this meeting. These factors and risks are described in our SEC filings. All forward-looking statements that we make on today's call are based on our beliefs as of today, and we disclaim any obligation to update any forward-looking statements, except as required by law. Our responses may also include certain non-GAAP financial measures, which are not a substitute for our GAAP results. Historical reconciliations are available on our IR website. We also discuss customers. For rideshare, there are two customers in every car. The driver is Lyft's customer, and the rider is the driver's customer. We care about both. Now, let's move on to our shareholder questions.
David, our first question is from Julius. The question is: What is Lyft doing to stay competitive with Uber? Will Lyft get into the food delivery business?
Well, thank you, Julius. Really appreciate the question. What sets Lyft apart is the fact we are focused on rideshare and on customer obsession. So what that means is we can lead on innovation for rideshare. We can come to market with new products faster, that respond to what customers want, like our On-Time Airport Pickup Promise and our 70% Earnings Guarantee for drivers. It also means we can focus on operational excellence in a very fundamental way. And then beyond that, we see lots of opportunity to lean into partnerships in a way that offer differentiated value and enhance customer experience. An example of this would be the partnership we currently have through our Lyft Pink program, with Grubhub.
When I step back a step, drivers and riders really benefit from an industry with more than one major player, and so by bringing choice and innovation, we really bring structural strength and health to the whole industry. Last thing, I just want to make a quick plug for our Investor Day last week, our first ever. If you haven't gotten a chance to watch the presentation, please do check it out. The recording is posted on the IR website, and you'll get a really good sense of our approach.
Thanks, David. The next question is from Lars. Lars asks: In the U.S. and Canada, the economic footprint of Lyft at current levels is significant. As the growth trajectory of Lyft outpaces the overall economy, does management foresee local, national, or even global voices of concern over its customer obsession engine that powers it over and over again as becoming too powerful? And how does Lyft intend to respond to such concerns when or if they arise?
Hi, Lars. I really appreciate that question. You know, the app-based economy is absolutely an important engine, but for economic opportunity. If you think about it, people use it to supplement their traditional W-2 income. They use it to earn around other commitments, like school or caregiving, or even after retirement, to earn a bit of extra money and stay out and be social. People really value it. That's why we have more drivers and driver hours now, even during a period of record low unemployment, than we've had in the past. With product innovations like Women+ Connect, we give even more people access to these flexible earnings opportunities. The bottom line is, communities are stronger, economically and socially, because of app-based work.
Thank you, David. That concludes the question and answer session for today's meeting.
Thank you for joining us. You may now disconnect. The host has ended this call. Goodbye.