Welcome to the 2020 Annual Meeting for Modine Manufacturing Company. Our host for today's call is Kathy Powers, Vice President, Treasurer, Investor Relations, and Tax. At this time, all participants will be in a listen-only mode. I will now turn the call over to your host. Kathy Powers, you may begin.
Thank you, and good morning. Welcome to our 2020 Annual Shareholder Meeting, which we are hosting in a virtual format this year, given the constraints placed on us by the COVID-19 outbreak. During the meeting, assistance for anyone having technical difficulties can be accessed by dialing the telephone number found on the annual meeting website. On our meeting screen, you will see several sections which contain the agenda for the meeting, a place for you to vote or to update your previous vote, a place for you to ask questions, and the meeting materials and event resources, including the rules of conduct for the meeting. Please take a moment to review these rules. During this meeting, we will answer questions that are pertinent to the business of the meeting. We understand there may be questions concerning the impact of COVID-19 and other business matters outside the agenda topics.
Please note that our first quarter fiscal 2021 earnings call is scheduled for August 5, 2020, and will cover a range of business issues. We encourage you to listen. Now, I would like to turn the meeting over to Marsha Williams, our Lead Director, who will chair the meeting.
Thank you, Kathy. Good morning. On behalf of Modine's Board of Directors and the entire management team, I'd like to welcome you to Modine's Annual Shareholders Meeting. Joining me in hosting the meeting is Sylvia Stein, our General Counsel and Corporate Secretary. The annual meeting of the shareholders of Modine Manufacturing Company will please come to order. Pursuant to the authority vested in me by the bylaws and Wisconsin law, I have set forth an agenda for this meeting, and the business of the meeting will follow the order set forth in the agenda. To ensure an orderly and constructive meeting, and give all shareholders an opportunity to be heard, the meeting will be conducted in a manner intended to be fair to the interests of all shareholders and in accordance with the rules of conduct established for the meeting.
As noted, there is a place provided for questions which will be addressed later in the meeting. Please confine any questions to the agenda items and to the matters of concern to shareholders generally. The agenda and rules of conduct are available on the meeting screen. Jeffrey Shively, Associate General Counsel, and Heather Downs Russell, Senior Counsel, have been appointed to serve as the Inspectors of Election and have filed their Oath of Inspectors of Election. For the record, the other directors present at this virtual annual meeting today are David Anderson, Eric Ashleman, David Bills, Tom Burke, our CEO, Charlie Cooley, Suresh Garimella, Larry Moore, Christopher Patterson, and Christine Y. Yan. A detailed biography of each director was provided in the Proxy Statement, which is available on the meeting screen.
Also present at this virtual meeting is Mick Lucarelli, Modine's Vice President and Chief Financial Officer, as well as Molly Selke, from our independent registered public accounting firm, PricewaterhouseCoopers, LLP. This is a regular annual meeting of the shareholders. Will the Secretary, Sylvia Stein, make the necessary announcements so we may proceed with the meeting?
Good morning. This meeting is called pursuant to the bylaws of the company upon order of the Board of Directors and written notice given by the company. Available on the meeting screen is a copy of the Affidavit of Mailing, certifying that our proxy statement and the annual report to shareholders and the 2020 annual report on Form 10-K were mailed beginning on June 23, 2020, to each shareholder of record as of the close of business on May 29, 2020, the record date. As required by the Wisconsin statutes, a certified list of the names of all shareholders entitled to notice of this meeting, prepared by Equiniti Trust Company, the transfer agent of the company, is available in the meeting materials with addresses and the number of shares held by each shareholder entitled to vote at this meeting.
All of the foregoing documents, including the minutes of last year's shareholders meeting, are available for review on the meeting screen. Please note that portions of this meeting, including management's responses to any questions, may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Please review Modine's notice about such statements, which is also available on the meeting screen.
Thank you, Sylvia. The Inspectors of Election have determined that a majority of the shares outstanding, and entitled to vote are represented at the meeting. Accordingly, under the bylaws, there is a quorum present, and this meeting is, therefore, lawfully convened and qualified to transact business. As chair, I order the notice of meeting, the Proxy Statement and form of proxy card, the affidavit of mailing, and the oath and report of the Inspectors of Election be made part of the minutes. The notice of meeting specifies that this meeting was called to elect the company-nominated slate of 3 directors for terms expiring in 2023. The nominees are Eric Ashleman, Larry Moore, and Marsha Williams. Notice of no other nomination was given to the corporation. As a result, under our bylaws, no other nominations can be made.
The meeting was also called to approve the company's 2020 incentive compensation plan, to approve an advisory vote on the company's named executive officer compensation, and to ratify the appointment of the company's independent registered public accounting firm. The meeting is now open for discussion specifically concerning the matters to be voted upon. Kathy, have we received any questions that are pertinent to the business of the meeting?
No, Marsha, we have not received any questions pertinent to the business of the meeting at this time.
Thank you, Kathy. Any shareholder who hasn't yet voted or who wishes to change their vote may do so by clicking the Vote Here button on your screen and following the instructions. Shareholders who have sent in proxies or voted via telephone or online, and who do not wish to change their votes, do not need to take any further action. We will pause briefly while the votes are counted. The polls are now closed as to all matters to be acted upon at this meeting. All proxies and ballots having been submitted, will the Secretary please supply the latest tally of the inspectors of election for each of the issues to be voted upon?
Shares of common stock outstanding and entitled to vote, 50,823,290. Shares represented at the meeting in person or by proxy are 88% of total shares outstanding, and entitled to vote. Item one: The latest tally with respect to the election of directors indicates the following: Each of Directors Ashelman, Moore, and Williams received votes in favor in excess of 92% of votes cast. Item two: With regard to the approval of the company's 2020 incentive compensation plan, the latest tally indicates that 87% of the votes cast on this item are in favor. Item three: With regard to the approval of the advisory vote on the company's named executive officer compensation, the latest tally indicates that 92% of the votes cast on this item are in favor.
Item 4: With regard to the ratification of the appointment of PricewaterhouseCoopers as the independent registered public accounting firm, the latest tally indicates that 96% of the votes cast on this item are in favor.
Thank you, Sylvia. Since the latest tally of the inspectors of election indicates that each of the matters voted upon has received the requisite vote as described in the proxy statement, I now declare that Mr. Ashelman, Mr. Moore, and I are elected directors of this corporation for terms to expire in 2023. The company's 2020 incentive compensation plan is approved, the advisory vote on the company's executive compensation is approved, and PricewaterhouseCoopers' appointment as the company's independent registered public accounting firm is ratified. We will now entertain questions, if any, concerning the business and corporate affairs of the company in fiscal year 2020. Kathy, have we received any such questions?
No, Marsha, there are no questions.
Thank you, Kathy. No notice of any other business was given to the company in accordance with our bylaws. Therefore, no other business can properly be brought before this annual meeting, and I declare the meeting adjourned. This concludes our 2020 shareholders meeting. Management and the board of directors appreciate your interest in the company, and thank you all for being with us today.
This now concludes the meeting. Thank you for joining, and have a pleasant day.