Welcome to the annual meeting for Magnolia Oil & Gas Corporation. Our host for today's call is Chris Stavros, President, CEO, and Chairman. I will now turn the call over to your host. Mr. Stavros, you may begin.
Thank you. Good morning, ladies and gentlemen, and welcome to the 2026 annual meeting of stockholders of Magnolia Oil & Gas Corporation. I am Chris Stavros, President, CEO, and Chairman of Magnolia. I will be presiding over this meeting. On behalf of the board of directors and Magnolia's employees, I thank you for joining us this morning. To our stockholders, thank you for your ownership in Magnolia. This 2026 annual meeting is being held in a virtual meeting format only, which allows us to be more inclusive and reach a greater number of our stockholders. First, let me introduce the nominees for election to our board of directors who have joined us on the call this morning. All eight of the nominees currently serve on our board of directors.
Along with me, the following seven individuals have been nominated to serve for the upcoming term: Dan Smith, our Lead Independent Director. Arcilia Acosta, the Chair of our Nominating and Corporate Governance Committee. Edward Djerejian, the Chair of our Compensation Committee. David Khani. James R. Larson, the Chair of our Audit Committee. R. Lewis Ropp, and Shandell Szabo. Each of the directors' full biographies is available in the proxy statement. Now, let me introduce Tim Yang, Executive Vice President and Corporate Secretary, who is also participating in the meeting today. Timothy D. Yang will act as Secretary of the meeting. Rhonda Carroll, our Inspector of Elections from Broadridge, and Suzanne Johnson and Taylor Thomas, representing our independent auditor, KPMG LLP, have also joined the call.
I'll now turn the meeting over to Tim, who will chair the official business portion of the meeting and provide some brief remarks on procedural matters.
Thanks, Chris, and thank you to everyone who joined us today. If you're a Magnolia stockholder, you should have logged in to the web portal using your 16-digit control number, which will allow you to vote online during this meeting. The control number may be found on your proxy card, voter instruction form, or electronic notice to vote. If you plan on voting, we kindly request that you do so as soon as possible. The virtual meeting website reflects today's agenda and rules of conduct for the meeting. As stated in the rules of conduct and disclosed in our proxy materials, any questions were required to be submitted in advance of the meeting. We did not receive any timely submitted questions pertaining to the proposals. It is now approximately 9:00 A.M. Central Time, and this meeting is officially called to order.
The board of directors fixed March 9, 2026 as the record date for this meeting. On March 24, we began delivery of the notice of Internet availability of proxy materials, the proxy statement, and our 2025 annual report on Form 10-K to holders of record as of March 9. We have received an affidavit of mailing establishing that notice of this meeting was duly given. A copy of the proxy materials and the affidavit of mailing will be incorporated into the minutes of the meeting. The proxy materials, along with a list of stockholders entitled to vote, are available electronically during the meeting. Rhonda Carroll has been appointed to act as an independent third-party Inspector of Elections.
Rhonda is responsible for confirming the qualifications of any stockholder who has voted or will vote during the meeting and is responsible for collecting, accepting, and tabulating all votes, including all stockholder votes and votes by proxy. She has previously signed an oath of office, which will be included in the minutes of the meeting. The certified list of stockholders shows that holders of 185,655,934 shares of our common stock are entitled to vote at this meeting. The Inspector of Elections has reported that holders of approximately 97% of all the shares entitled to vote are present in person or by proxy, representing more than the majority of the voting power.
Therefore, I declare that a quorum is present and this meeting is duly constituted and convened for the purpose of transacting such business as may properly come before it. As detailed in our proxy statement, there are three proposals to be voted on at this meeting. Proposal 1, the election of eight directors to serve for a one-year term from the date of the annual meeting until their respective successors are duly elected and qualified. Based on the recommendation of a Nominating and Corporate Governance Committee, the board has nominated the following individuals as directors of the company: Chris Stavros, Dan Smith, Arcilia Acosta, Edward Djerejian, David Khani, James Larson, R. Lewis Ropp, and Shandell Szabo. Proposal 2, the say on pay vote to approve the following advisory non-binding resolution regarding the compensation of Magnolia's named executive officers for 2025.
Resolved that the compensation paid to Magnolia's named executive officers, as disclosed in the 2026 proxy statement pursuant to Item 42 of Reg S-K, including the compensation discussion and analysis, compensation tables and their discussion is hereby approved. Proposal 3, the ratification of KPMG as our independent registered public accounting firm for the 2026 fiscal year. The Board of Directors recommend to vote for each of the director nominees and for each of the other proposals. I now declare the polls open. Please remember that if you've already voted, you do not need to vote today unless you want to change your previous vote. If you're a stockholder and wish to change your earlier vote or have not yet voted, you may vote your shares through the virtual meeting site now. We will allow a brief pause for voting. I now declare the polls closed.
We have been informed by the Inspector of Elections that the proxies and ballots have been counted. The preliminary voting report indicates that each of the eight nominees for election to the board of directors has been elected. The say on pay vote has passed, and the proposal to ratify the appointment of KPMG has passed. A certificate from the Inspector of Elections confirming the votes received for the proposals will be included in the minutes of this meeting. The results will be included in a Form 8-K that we will file with the SEC.
Thank you, Tim. Since there is no further formal business, the official business portion of the annual meeting is now adjourned, and the 2026 annual meeting of Magnolia stockholders is now concluded. I would like to express my sincere appreciation to the stockholders who attended today, as well as those who submitted their proxies in advance. Thank you for your interest, continued support, and ownership in Magnolia. Have a wonderful day.
This now concludes the meeting. Thank you for joining, and have a pleasant day.