Good morning and welcome to Masco's 2025 Annual Meeting of Stockholders. I would like to introduce Ms. Lisa Payne, Masco's Chair of the Board.
Thank you and good morning. I'm pleased to welcome you to Masco's Annual Meeting. At today's meeting, we'll address six matters for stockholder consideration and respond to any questions about these matters in accordance with the meeting's rules of conduct that have been posted to this website. The meeting will now come to order. Ken Cole, our General Counsel and Secretary, will act as Secretary of the Meeting. Attending today's meeting are the members of our Board of Directors, as well as representatives of PricewaterhouseCoopers, our independent auditors. Mr. Cole will now confirm the notice given to our stockholders for this meeting and whether a quorum is present, and will present the proposals to be considered at this meeting.
Thank you and good morning. I confirm that our stockholders were provided proper notice of this meeting. Broadridge Financial Solutions and Sodali & Co. have certified that our proxy materials were distributed to each stockholder of record beginning on April 7, 2025. To determine whether we have a quorum, Mr. David Soudal, our Inspector of Election, has confirmed the following: there are 186,208,034 shares of Masco Corporation common stock represented at this meeting, either by proxy or virtually, representing 87.97% of the company's common stock issued and outstanding, and entitled to vote at this meeting. This constitutes a quorum under the company's bylaws. The meeting records will include all documents pertinent to the meeting. Since we have a quorum, we will proceed with the business of the meeting.
Under our bylaws, with respect to stockholder proposals, only matters for which we have received proper notice may be considered at this meeting. Since we have not received such notice, the only matters to be voted upon today are the six matters described in our proxy statement. The polls are now open for voting. As usual, most stockholders have voted by proxy. If any stockholder has not yet voted or wishes to change their vote, you can do this by clicking on the voting button on the web portal and following the instructions. All of the proposals that I will present are described in our proxy statement. The first item to be voted on is the election of directors. Our certificate of incorporation provides for a board divided into three classes. The terms of our Class 1 directors expire at this meeting. The board proposes the reelection of Jonathon J. Nudi, Lisa A. Payne, and Sandeep Reddy to serve as Class 1 directors, with terms expiring at the annual meeting of stockholders in 2028, or at the time their respective successors are elected and qualified. Our certificate of incorporation describes how our stockholders can nominate persons for election to our board. We did not receive any such nominations, and therefore, the director nominations are closed. The remaining matters to be voted on are the approval by advisory vote of the compensation paid to our named executive officers, the ratification of PricewaterhouseCoopers LLP to continue as our independent auditors for 2025, the approval of an amendment to the company's charter to remove supermajority voting requirements, the approval of an amendment to the business combination provisions in the company's charter, and lastly, the approval of an amendment to the company charter to provide for the annual election of directors.
All matters to be considered at this meeting have now been presented. As everyone has had the opportunity to vote, the votes are now closed. Our Inspector of Election, Mr. Saudal, has delivered the preliminary voting results, which report that a majority of votes have been cast for each of the following proposals: the election of Jonathon J. Nudi, Lisa A. Payne, and Sandeep Reddy as Class 1 directors, the approval of the compensation paid to the company's named executive officers, ratification of the selection of PricewaterhouseCoopers LLP as the company's independent auditors for 2025, and the amendment to the company's charter's business combination provision.
The preliminary voting results report that votes cast for each of the following proposals represent more than 80% of our outstanding shares: the amendment to the company charter to remove supermajority vote requirements and the amendment to the company charter to provide for the annual election of directors.
Thank you, Mr. Cole. You have heard the voting results, and the inspector's final report will be filed with the minutes of this meeting. This concludes the formal business to be conducted at this meeting. I would now like to ask our Assistant Secretary if we have received any questions through the web portal.
Ms. Payne, we've not received any questions regarding the matters presented at this meeting.
Thank you, Yvette. If any stockholder submitted a question and was not addressed during this Q&A, you may contact Masco's Investor Relations Department at the phone number or email address provided on the rules of conduct. The annual meeting is officially adjourned. In closing, I would like to acknowledge and thank Mr. Don Parfet for his over 12 years of dedicated service, including as the Chair of the Compensation and Talent Committee, and for his invaluable contributions to our board and to Masco. As we have announced, Don will be retiring from our board today. Don has been instrumental in guiding our organization through challenges and successes. He has had a significant impact on Masco, and we wish him well in the future. I would also like to acknowledge and thank Mr.
Keith Allman, who will be retiring from the board and as the company's President and CEO in early July. Keith has served as Masco's President and CEO since 2014, and on behalf of this board, I want to express our deep gratitude to Keith for his exemplary leadership, dedication, strong execution, and tremendous contributions to Masco over the past 11 years and indeed throughout his 27-year career here. Keith, again, we thank you and wish you well in future endeavors. Now, finally, I'd like to welcome Mr. Jonathon Nudi, who will succeed Keith as Masco's next President and CEO. Jon has had a very successful 30-year career at General Mills and has been a valuable member of this board since 2023.
We are confident he is the right person to lead Masco forward as the company advances its initiatives and capitalizes on the power of its leading brands across product categories, sales channels, and geographies to create exceptional value for customers and shareholders. John, we look forward to your leadership and working with you as you become the President and CEO in early July. With that, I would like to thank you for attending today and for your continued support of Masco.
Masco Corporation's Annual Stockholder Meeting has now come to an end. You may now disconnect.
The host has ended this call. Goodbye.