Good morning, and welcome to the 2026 annual meeting of stockholders of Monolithic Power Systems. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Ms. Saria Tseng, Executive Vice President, General Counsel. Ms. Tseng, you may begin.
Thank you. Good morning, ladies and gentlemen. My name is Saria Tseng, I'm the General Counsel of Monolithic Power Systems. I will act as the secretary of the meeting and record the minutes. It is a pleasure to welcome you to the MPS annual meeting of stockholders. The meeting is now called to order. I have an affidavit signed by Computershare that the annual meeting notice mailing was completed on May 1st, 2026, to all registered stockholders of record at the close of business on April 15, 2026. Additionally, I have an affidavit signed by Broadridge Financial Solutions that the annual meeting notice mailing to the beneficial stockholders was completed on April 30th, 2026. These affidavits, together with copies of the annual meeting notice, proxy statement, and proxy card, will be filed with the minutes of the meeting. The board of directors have designated me as Inspector of Election.
I have executed an oath to carry out the duties impartially and to the best of my ability. The oath of Inspector of Election will be filed with the minutes of this meeting. We have present by proxy a sufficient number of shares to constitute a quorum, I declare the meeting to be duly convened for purpose of transacting such business as may properly come before it. If you have already cast your votes, we have counted your votes. Those of you who have not yet voted and have properly registered with Computershare to attend this annual meeting, you may vote during this webcast, your votes will be counted. The first item of business is the nomination and election of two directors to serve until the annual meeting of stockholders in 2029 and until their successors are duly elected and qualified.
The following two directors are nominated by the board of directors: Victor Lee and Jeff Zhou. The second item of business is ratification of the independent auditors. The board of directors has appointed Ernst & Young independent auditors to audit the company's financial statements for the fiscal year ending December 31st, 2026. The stockholders are voting on whether to ratify this appointment. The third item of business is an advisory vote on the 2025 compensation of the company's executive officers, as disclosed in a compensation discussion and analysis in the proxy statement. This item is commonly referred to as a say on pay vote. With no additional matters, I now declare the polls closed. As Inspector of Election, I would like to report on the preliminary results of votes cast.
I hereby report that there are 45.4 million shares of common stock entitled to vote represented at this meeting, either in person or by proxy, comprising 92% of the outstanding common stock of the company as of the record date of April 15, 2026. In voting for directors, I hereby report that 39.3 million shares were in favor of the appointment of Victor Lee, and 41.1 million shares were in favor of the appointment of Jeff Zhou. Both directors are re-elected. In voting for the ratification of Ernst & Young as auditors of the company, I hereby report that 45.4 million shares were in favor of the appointment. The appointment of Ernst & Young as the company's independent auditors is ratified.
In voting for the say on pay proposal, I hereby report that 42.2 million shares were in favor of the proposal. The executive compensation is approved. The final number of votes will be included in the minutes of the meeting and in an 8-K that will be filed with the SEC within four business days. This concludes the formal proceedings. The meeting is now open for questions. Tony and Alfred, are there any questions?
Saria, there's no question.
Thank you. The meeting is now adjourned. Thank you.
This concludes the meeting. Have a great day, everyone.