Okay, it's 8:30 A.M. Good morning, everyone. Welcome to Maui Land & Pineapple Company's 2021 annual shareholders' meeting. It's 8:30 A.M., I now call this meeting to order. My name is Warren Haruki, Chairman and CEO. I have Michael Hotta, our Chief Financial Officer, Paulus Subrata, Vice President, and Scott Kodama, Controller from our team as well. We are also fortunate to have two of our directors, Arthur Tokin and Anthony Takitani, on the line. As far as we understand from record, you're the only. Good morning. Who just joined?
Yes, hello. Yeah, my name is Harry Tokin.
Hi, Harry.
Yes
Repeat your last name?
[audio distortion]
Okay, Harry. Thank you for joining us.
Yes.
We have the Maui Land & Pine executive team as well as two directors, Art Tokin and Anthony Takitani, on the line. At this point, I'm also going to ask if our auditors, Accuity LLP, are on the line. I'll now ask Michael Hotta, Chief Financial Officer, to report on the call and the notice of the meeting.
Okay. Thank you, Warren. Notice of this meeting was mailed on March 18th 2021 to all holders of our common stock as of March 9th 2021 record date. We have a certificate of the mailing from the transfer agent, Computershare.
Okay, do we have a quorum, Mike?
Yes, Mr. Chairman. We have 17,788,000 shares, or 92% of the outstanding shares present in person or by proxy.
Thank you very much. Who just joined? Okay, thank you. The 92% is an outstanding vote. I declare a quorum present and the meeting qualified to act on all matters set forth in the notice of meeting. The business of this meeting is limited to those items included in the notice of meeting that was sent to all shareholders. If you sent in your proxy or voted by ballot, your vote is already counted and tallied. If you have not submitted your proxy and would like to vote at this meeting, please let us know at this time. Okay, moving on. Proposal number one is the election of five directors to serve until the annual meeting of shareholders to be held in 2022. Paul?
I move to elect as directors, Steve M. Case, Warren H. Haruki, David A. Heenan, Anthony P. Takitani, and Arthur C. Tokin.
Scott?
I second the motion.
Any questions or discussion? Proposal number two is to approve on a non-binding advisory basis the compensation paid to the company's named executive officers. Paul?
I move to approve the compensation paid to the company's named executive officers.
Scott?
Second the motion.
Any questions or discussion? Thank you. Proposal number three is to ratify Accuity LLP as the independent registered public accounting firm of the company for 2021. Paul?
I move to ratify Accuity LLP as the independent registered public accounting firm of the company for 2021.
Scott?
Second the motion.
Any questions or discussion? Mike, please announce the results of the votes.
Okay, thank you. Of the 15,211,000 votes cast, 13,255,000 shares, or at least 87%, had voted for each of the nominated directors, 97% had voted to approve the compensation paid to the company's named executive officers, and 99% had voted to ratify Accuity LLP as the independent registered public accounting firm of the company for 2021.
I ask that the minutes reflect that the nominated directors have been elected by a plurality of the votes cast, and I hereby declare the approval of the compensation paid to the company's named executive officers and the ratification of Accuity LLP as the independent registered public accounting firm of the company for 2021. At this point, my remarks will be brief. You've already received the company's recent 10-K filing, which covered 2020. The past year is best characterized as our COVID shutdown year. Now, following this shareholders meeting, we'll be having our quarterly audit committee, followed by our board of directors meeting to review first quarter results for 2021. It's our plan to issue our Q1 '21 earnings release and to file our 10-Q next Monday, May 3rd, after the close of the market.
At this point, I would ask Tim or Harry if you have any questions that you want to pose at this time.
No, this is Harry. Thank you. I enjoyed listening but have no questions at the moment.
Okay. Tim, we went over a lot of things yesterday.
Yeah. No questions from me either.
Okay. There being no further business, I hereby declare this meeting adjourned. Thank you both shareholders for joining us. Thank you to our directors. We are adjourned.
Thank you.
Thank you.