Good afternoon and welcome to LiP Inc. Twenty twenty Annual Meeting of Stockholders. Please note that this event is being webcast. I would now like to introduce Logan Green, the company's Co Founder, Chief Executive Officer and Director. Mr.
Green, please go ahead, sir.
Welcome, everyone, and thank you all for joining our twenty twenty Annual Meeting of Stockholders. We are pleased to hold our Annual Stockholders Meeting virtually as we aim to increase access and participation. Before we begin today's call, I want to acknowledge that today is Juneteenth. While this meeting was scheduled last year, we recognize the importance of today's date in light of the National Movement for Racial Justice. Starting this year, Lyft is observing Juneteenth as an official company holiday, during which we are encouraging team members to reflect, participate in civic engagement, and educate themselves on how to combat systemic racism.
Celebrating Juneteenth is just one step in our ongoing journey towards racial equality at Lyft and in this country. And now I would like to turn the meeting over to Kristin Sverczyk, our General Counsel and Secretary, who will lead the formal business of the meeting and also act as Secretary.
Thank you, Logan. Joining us today is the company's Co Founder, President and Vice Chair, John Zimmer as well as other members of our Board of Directors who are attending the meeting today. We also have with us our Chief Financial Officer, Brian Roberts our Head of Investor Relations, Sean Woodhall and Sameer Shearsicker of PricewaterhouseCoopers LLP, our independent registered public accounting firm. We have appointed Catherine Whedon to act as the Inspector of Election today. She has executed an oath of office to carry out her duties with strict impartiality and to the best of her ability, And she will examine and tabulate the proxies and ballots at this meeting.
With introductions concluded, we'll move on to other procedural matters. As an overview of today's meeting, we will begin with the formal business portion, during which we will address the matters described in our 2020 proxy statement and vote on the proxy proposals. We will then announce preliminary voting results and adjourn the formal portion of the meeting. Afterward, we will provide time for a Q and A session. Note that the meeting is being recorded and a webcast replay will be available on this same meeting website following today's meeting.
Our Board of Directors has fixed 04/22/2020 as the record date for determining the stockholders entitled to vote at this meeting. I have an affidavit of distribution from Broadridge Financial Solutions confirming that proxy materials related to this meeting were mailed to stockholders of record determined as of the close of business on the record date starting on 04/27/2020. I also have a complete list of the stockholders entitled to vote at this meeting available for examination by any stockholder who is present. This list will be available online for the duration of the meeting and can be found in the Footer section of the meeting webpage. Ms.
Whedon reports that the holders of a majority of the combined voting power of our Class A 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. We'll now proceed with the formal business of the meeting. 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 via the telephone or Internet and do not wish to change your vote, no further action is needed. There are four proposals to be considered and voted upon by our stockholders. Each of these proposals is more fully described in our proxy statement filed with the Securities and Exchange Commission on 04/27/2020. The first proposal is to elect two Class I directors, Logan Green and Anne Miraco to serve until our twenty twenty three Annual Meeting of Stockholders and until their successors are duly elected and qualified. No other director nominees have been properly submitted pursuant to our bylaws or the rules of the Securities and Exchange Commission, so no other nominations are being considered.
Each of the two 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 our fiscal year ending 12/31/2020. Our Board of Directors recommends a vote for the ratification of the appointment of PricewaterhouseCoopers LLP as our independent public accounting firm for our fiscal year ending 12/31/2020. The third proposal is to approve on an advisory basis the compensation of our named executive officers. Our Board of Directors recommends a vote for the advisory approval of the compensation of our named executive officers and the adoption of the following resolution.
It reads as follows: Resolved that the stockholders approve on an advisory basis the compensation paid to our named executive officers as disclosed in the proxy statement for the annual meeting pursuant to the compensation disclosure rules of the SEC, including the compensation discussion and analysis, compensation tables and narrative discussion and other related disclosure. The fourth proposal is to approve on an advisory basis the frequency of future stockholder advisory votes on the compensation of the company's named executive officers. Our Board of Directors recommends a vote to hold future stockholder advisory votes on the compensation of our named executive officers every one year. The polls are still open, and we will vote on these proposals. Voting today is by proxy and online ballot.
As previously mentioned, if you already submitted a proxy or voted via the telephone or Internet and do not wish to change your vote, no further action is needed at this time. 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. If you have not yet submitted a proxy or electronic ballot, you must submit your electronic ballot now for your vote to be counted by the Inspector of Election. We will leave the polls open for another minute to allow anyone who chooses to vote electronically to cast their ballots. Since everyone has had the opportunity to vote, 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 Logan Green and Anne Miraco to serve as directors until the twenty twenty three 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 12/31/2020 approved on an advisory basis the compensation of our named executive officers and approved on an advisory basis holding future stockholder advisory votes on the compensation of our named executive officers every one year. The final voting results will be set forth in a report of the Inspector of Election and will be included in the minutes of the meeting. We will also report the final voting results on a Form eight ks, which we will file with the Securities and Exchange Commission within four business days of today's date. This concludes our planned agenda today.
As there is no other formal business before us, I now declare the formal business portion of the meeting adjourned. We will now answer stockholder questions received through the web portal. I'll now turn it over to Sean Woodhall, our Head of Investor Relations to oversee this Q and A session.
Thank you, Kristin. Before we begin, I would like to note that our responses to your questions today may include forward looking statements, including statements relating to the expected impact of the COVID-nineteen pandemic, the expected performance of our business, future financial results and guidance, strategy, long term growth and overall future prospects. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those projected or implied during this meeting. In particular, those described in our risk factors included in our Form 10 ks for the full year 2019 and in our Form 10 Q for the 2020 that were filed with the Securities and Exchange Commission as well as risks associated with the current uncertainty and unpredictability in our business, the markets and economy. You should not rely on our forward looking statements as predictions of future events.
All forward looking statements that we make at this meeting are based on assumptions and beliefs as of the date hereof, and Lyft disclaims any obligation to update any forward looking statements except as required by law. Also, our responses may include discussion of certain non GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are provided in our earnings releases for prior quarters and other filings with the SEC, all of which are available on our Investor Relations website. These non GAAP measures are not intended to be a substitute for our GAAP results. Now let's move to our shareholder questions.
Logan, our first question is from Ben S. Ben asks, how if at all will Lyft be positioned as a safe alternative to mass public transit while in COVID and post COVID? What measures will be in place to make people see that Lyft is a safe alternative?
Thank you, Ben, for your question. The health and safety of drivers and riders on our platform is extremely important to us. Since the crisis began, we have enacted significant measures to help protect and support our community of riders and drivers. For example, we now require riders and drivers to complete a personal health certification and wear face masks during all Lyft rides. The personal health certification is built directly into our app.
Every driver and rider is required to self certify that they will wear face masks, are COVID nineteen symptom free, and that they will follow CDC and local guidelines related to COVID nineteen before signing on to drive or ride with Lyft. We're also asking drivers and riders to confirm that passengers will not sit in the front seat of vehicles during this time. We've purchased and continue to make available hundreds of thousands of bottles of hand sanitizer and masks to help protect drivers and riders. So far, we've dedicated millions of dollars to purchasing these supplies and making them available to drivers at no cost. We also created a driver fund to provide assistance to qualifying drivers who test positive for COVID nineteen or put under individual quarantine by a public health agency.
Further, in mid March, we paused shared rides across all of our markets. Many people are also turning to bikes and scooters during this time for socially distant open air travel, Especially in places where mass transit has reduced operations, bikes and scooters are often a great and reliable option. Additionally, for our bike and scooter operations, we've enhanced our disinfecting and cleaning protocols. Finally, we're incorporating key safety and public health update alerts in our driver and rider apps and on our website. While we've made tremendous progress in just a few months, our work in this area is by no means complete.
We'll continue to fund important initiatives to support the safety of our platform and we'll update the investor community on our progress accordingly.
Thank you, Logan. Our next question was submitted by Rosetta G. Rosetta asks, has Lyft considered using the model that your competitor uses and allow for food and drug pickup and delivery service?
Thanks for the question. We do not have an interest in launching a consumer food delivery service for a number of reasons, one being that it's already a fairly crowded space. Where we do think we can uniquely add value is our Essential Deliveries program, which we launched in mid April. Essential Deliveries connects drivers on our platform with government agencies, local nonprofits, and businesses to enable on demand delivery of meals, groceries, and other essentials. This program was designed to help improve the utilization of drivers on the Lyft platform, and it also helps to support organizations doing important work in our communities.
We're currently offering essential deliveries in over 30 markets in cooperation with both national and local partnerships. We will evaluate future opportunities as we see how our essential deliveries program performs.
Thank you, Logan. That concludes the question and answer period for today's meeting. Thank you for joining us today.
Thank you for joining today's meeting. You may now disconnect.