Good morning. Welcome to the MercadoLibre Incorporated annual meeting of stockholders. I would like to now turn the conference over to Jacobo Cohen Imach, general counsel of the company. Please go ahead.
Thank you. Good afternoon, welcome to the 2019 annual meeting of stockholders of MercadoLibre, Inc. I am Jacobo Cohen Imach, general counsel of the company, and I will act as chairman and secretary of this meeting. The meeting is now called to order. The corporate record will reflect that of the 49,526,972 shares entitled to vote, including shares of our preferred Series A stock on as converted basis, approximately 88.32% or 43,745,318 shares of common stock are represented today, either in person or by proxy, which are sufficient to constitute a quorum for the purpose of transacting business at the meeting. Mr. Anthony Carideo, a representative of Broadridge Financial Solutions, Inc., will act as the inspector of elections for this meeting. Mr. Carideo has subscribed and filed an oath of office for purposes of this meeting. As secretary of the meeting, I have presented the following documents.
First, a certified list of holders of common stock and preferred Series A stock of the company as of the close of business on April 15, 2019, the record date for determining stockholders entitled to notice of and to vote at this meeting. This list has been prepared by Computershare Inc., the company's transfer agent. Second, an affidavit of Daniel Cini, an employee of Broadridge Financial Solutions, Inc., as to the distribution on or about April 26, 2019, of notice to the meeting and notice of internet availability of proxy materials to the company's stockholders of record as of the close of business on April 15, 2019, the record date for the meeting. As secretary, I will file these materials with the minutes of the meeting. Having a quorum, we will now proceed with the business of this meeting.
Mr. Pedro Arnt, Chief Financial Officer of the company, is in attendance today. Also attending today by telephone are representatives from our outside counsel, Cleary Gottlieb Steen & Hamilton LLP, Mr. Diego de Vivo from Deloitte & Co. S.A., our independent auditing firm. During the question and answer period at the end of the meeting, Mr. de Vivo will be available to answer questions concerning the company's financial statements and may make a brief statement if he chooses. During the course of the meeting today, including during the question and answer sessions, representatives of the company may make statements that constitute forward-looking statements. These matters are subject to a number of factors that could cause actual results to differ materially from our expectations. Those factors are described in the Risk Factors section of the company's annual report on Form 10-K filed with the SEC.
The company undertakes no obligation to publicly update or revise any forward-looking statements. In order to ensure the orderly conduct of the business of this meeting, we have adopted the order of business set forth in the agenda available via the web portal. After the formal meeting has been adjourned, we will provide time for general questions. Only validated stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. Please note that this meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device. Though we may not be able to answer every question, we will do our best to provide a response to as many as possible. Thank you for your cooperation. This meeting will consist of two parts.
First, the formalities necessary to establish the validity of the meeting, Second, the meeting's formal business. The only formal items of business on the agenda for today's meeting are, one, to elect the three Class 3 dir ectors nominated and recommended by our board of directors, each to serve until the 2022 annual meeting of stockholders, or until such time as their respective successors are elected and qualified. Second, to hold an advisory vote on executive compensation for fiscal year 2018. Third, to consider and vote upon a proposal to approve the adoption of the amended and restated 2009 Equity Compensation Plan. Fourth, the ratification of the appointment of Deloitte & Co. S.A. as our independent registered public accounting firm for the fiscal year ending December 31st, 2019.
The company has not received notice from any of its stockholders, as required under its bylaws pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, of any other matter to be considered at this meeting. Therefore, no other proposals may be properly introduced by stockholders at this meeting. I now declare the polls open for voting at this meeting. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted by telephone or internet and do not want to change their vote do not need to take any further action. The polls will remain open until immediately after any discussion on today's proposal.
The first item of business on the agenda for this meeting is a proposal for the election of three nominees to serve on the board of directors of the company as Class III directors for a term of three years. The nominees to serve on the board of the company as Class III directors, as described in the company's proxy statement dated April 26th, 2019, are Emiliano Calemzuk, Marcos Galperin, and Roberto Sallouti. No other director nominees have been proposed. Are there any questions or remarks regarding the nominees? I now declare the nominations for election of directors closed. We will now move to the next item on the agenda. Next on the agenda for this meeting is a proposal to approve, on an advisory basis, the compensation of the company's named executive officers pursuant to the compensation disclosure rules of the SEC.
This say-on-pay vote is advisory and is not binding on the board of directors, but the compensation committee will take into consideration the outcome of the vote when making future executive compensation decisions. Are there any questions or remarks regarding the advisory vote on executive compensation? We will now move to the next item on the agenda. Next on the agenda for this meeting is a proposal to consider and vote upon a proposal to approve the adoption of the amended and restated 2009 equity compensation plan, which contains terms substantially similar to the terms of MercadoLibre 2009 equity compensation plan, scheduled to expire in June 2019. The amended and restated 2009 equity compensation plan extends the expiration date of the current plan, incorporates other minor updates, and increases the share reserved for the current plan.
The amended and restated 2009 equity compensation plan, as proposed, will have a reserve for issuance 1 million shares of our common stock. Are there any questions or remarks regarding the adoption of the amended and restated 2009 equity compensation plan? We will now move to the next item on the agenda. Next on the agenda for this meeting is a proposal to ratify the appointment of Deloitte & Co. S.A. as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2019. Are there any questions or remarks regarding the ratification of Deloitte? The matters set forth in the notice of annual meeting to be voted on are properly before this meeting. We will now proceed with voting on the four proposals.
For the election of directors, the three persons receiving the highest number of for votes for Class III directors will be elected as Class III directors of the company, which is referred to in the company's proxy statement as approval by a plurality of all votes cast at the meeting. The affirmative for votes of a majority of all of the shares present in person or represented by proxy at the meeting and entitled to vote on the matter is necessary to approve, on an advisory basis, the company's executive compensation. The affirmative for vote of a majority of all of the shares present in person or represented by proxy at the meeting is necessary to approve the adoption of the amended and restated 2009 equity compensation plan.
The affirmative for vote of a majority of all of the shares present in person or represented by proxy at the meeting is necessary to approve the ratification of the independent registered public accounting firm. Unless there are any questions regarding the voting procedure, we will now close the polls and proceed to the report of election results. Having received no questions, I ask each stockholder who plans to vote during the meeting to vote now if you have not already done so. If you submitted a proxy prior to the meeting, you don't need to do anything at this time unless you wish to change your vote. I now declare the polls closed. Based on the preliminary tabulation submitted by the inspector, a plurality of the shares eligible to vote voted for the election of Emiliano Calemzuk, Marcos Galperin, and Roberto Sallouti as Class III directors.
Consequently, Mr. Calemzuk, Mr. Galperin, and Mr. Sallouti have been elected to the board to serve as Class III directors until our 2022 annual meeting of stockholders and until their respective successors are duly elected and qualified, or until their respective earlier death, resignations, or removals. A majority of the shares present in person or represented by proxy at this meeting are entitled to vote on the matter have voted to approve on an advisory basis the company's executive compensation. A majority of the shares present in person or represented by proxy at this meeting and entitled to vote on the matter have voted to approve the adoption of the amended and restated 2009 equity compensation plan. Finally, a majority of the shares present in person or by proxy have voted to approve the ratification of Deloitte.
A report of the exact voting will be filed with the records of this meeting. We now welcome any questions or comments you may have. We ask that you please observe the rules discussed at the beginning of this meeting. I am aware of no other business that should be brought before this meeting, and accordingly, hereby adjourn the meeting. I would like to thank all of you for attending this annual meeting. I would also like to express my appreciation to all the stockholders who have submitted their proxy but were not able to attend. This concludes the 2019 annual meeting. Thank you all for your attendance this afternoon.
The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.