Good morning, and welcome to Marqeta's 2024 Annual Meeting of Stockholders. I would like to introduce your first presenter, Mr. Simon Khalaf.
Thank you. Good morning, ladies and gentlemen. I'm Simon Khalaf, Chief Executive Officer and a member of the Board of Directors of Marqeta. It's a pleasure to welcome you to welcome all of you to Marqeta's 2024 Annual Meetings of Stockholders. Pursuant to Marqeta's bylaws, I will serve as chairperson of today's meeting, and at this time, I call the meeting to order. I'm joined by Crystal Sumner, Marqeta's Chief Administrative Officer, who will act as the Secretary of the meeting. I would also like to welcome the members of our Board of Directors who are present at today's meeting. In addition, I'm pleased to welcome Jeremy Peters and Allan Telmo, representatives of KPMG LLP, our external auditing firm, who are here to answer any relevant questions.
Finally, I'd like to welcome Jim Raith , a representative of American Election Services, who has taken his oath and been appointed to act as an inspector of election. I will now turn the meeting over to Crystal, who will explain certain procedures for today's meeting.
Thanks, Simon. This is a virtual meeting conducted via live webcast. We believe in engaging our stockholders and maximizing their ability to meaningfully engage with us. Virtual meetings are one of the ways we are doing this. Today's session allows our stockholders to participate in the meeting regardless of their location. Before we get started, I want to cover a few administrative matters. Today's meeting has been duly called and is conducted in conformity with the laws of the State of Delaware and Marqeta's charter and bylaws. The agenda and the rules of order for the conduct for the meeting are available by clicking the Rules of Conduct link on the right-hand side of your virtual shareholder meeting screen under Meeting Materials. At this point, I would ask that you review and abide by the rules of conduct governing the meeting today.
If a matter arises during the meeting that is not completed by the rules. Before we get started. Okay, okay, I need to take a pause. Please bear with us while we work through technical difficulties. Thanks for your patience. Let me begin again. The agenda and the rules of order for the conduct of the meeting are available by clicking the Rules of Conduct link on the right-hand side of your virtual shareholder meeting screen under Meeting Materials. At this point, I would ask that you review and abide by the rules of conduct governing the meeting today. If a matter arises during the meeting that is not contemplated by the rules, Simon, as the chairperson of the meeting, has the discretion to determine the proper resolution of the matter. The rules of conduct also explain how to ask relevant questions during the meeting.
The polls for voting are open and will close after a brief question -and -answer session. If you have already voted and do not wish to change your vote, you do not need to do anything. If you haven't voted or if you voted previously but want to change your vote, you may do so now online by clicking on the green Vote Here button in the bottom center of your virtual shareholder meeting screen under Cast Your Vote. The record date set by the Board of Directors for voting at this meeting was the close of business on April 22, 2024. Broadridge Financial Solutions, our proxy distribution firm, has delivered an affidavit of mailing that shows that proper advance notice of this meeting and distribution of the notice was given to our stockholders of record as of the close of business on the record date.
A copy of the notice of this meeting and the affidavit of mailing will be incorporated into the minutes of this meeting. All stockholders of record at the close of business on the record date are entitled to vote at this annual meeting, and a list of stockholders of record is available for your review by clicking the link at the bottom of the virtual shareholder page. Mike Milotich, Marqeta's Chief Financial Officer, and I will be serving as proxies at the meeting today to vote on behalf of any stockholder who made a proper appointment by proxy. Duly elected proxies will be voted in accordance with the instructions of stockholders.
Mr. Raith, our inspector of election, has informed me that we have a quorum for the meeting, because holders of a majority of the voting power of the shares entitled to vote at this meeting are present in person or by proxy. This meeting is duly convened. The next item of business is consideration of the three proposals to be voted on at today's meeting. After the proposals have been presented, we will answer relevant questions submitted by our stockholders. The polls will close after this discussion. The first proposal is election of three Class III director nominees to serve a three-year term expiring at our 2027 Annual Meeting of Stockholders, or until their successors have been duly elected and qualified. The three nominees receiving the highest number of votes of shares presented in person or by proxy will be elected as directors.
The Board of Directors recommends the election of Alpesh Chokshi, Kiran Prasad, and Godfrey Sullivan as Marqeta's Class III directors. Gerri Elliott is departing the Board of Directors following today's meeting, and we thank her for her years of service to Marqeta. Because we have an advanced notice provision in our bylaws, all further nominations are closed. The second proposal is the ratification of the appointment of KPMG LLP as Marqeta's independent registered public accounting firm for our fiscal year ending December 31, 2024. The Board of Directors recommends that stockholders vote in favor of this proposal. The third proposal is a non-binding advisory vote on the compensation of Marqeta's named executive officers. The Board of Directors recommends that stockholders vote in favor of this proposal.
Please note that because Proposal three is an advisory vote, the results will not be binding on our Board of Directors, our Compensation Committee, or the company. However, our Board of Directors and our Compensation Committee will consider the outcome of the vote on Proposal three when determining named executive officer compensation. This concludes our presentation of the proposals at this meeting. We will now entertain relevant questions from stockholders that adhere to our rules of conduct. The rules of conduct also include information about any forward-looking statements made in response to the question. Representatives from KPMG are also available to answer any appropriate questions from stockholders. We have received two questions from stockholders. In order to fully respond to these questions asked, we will post the question and the company's response within the next several days on Marqeta's investor website, which is located at investors.marqeta.com.
Thank you all for your participation, and we will now proceed to voting. Please submit your vote for each of these proposals if you've not already done so. Now that time has been given to vote, I hereby declare the polls closed for voting and ask that the Inspector of Election to tabulate the votes. The preliminary report of the Inspector of Election indicates that each of Alpesh Chokshi, Kiran Prasad, and Godfrey Sullivan have been duly elected to our Board of Directors. The appointment of KPMG LLP as the independent registered public accounting firm for fiscal year 2024 has been ratified, and the non-binding advisory vote on the compensation of Marqeta's named executive officers have been approved. Again, with respect to the advisory vote on Proposal 3, the results of that proposal is non-binding.
Although the vote is non-binding, our Board of Directors and our compensation committee value the opinions of our stockholders and will consider the outcome of the vote on Proposal three when making future compensation decisions for Marqeta's named executive officers. The final voting results will be published in a Form 8-K that will be filed with the SEC within four business days following this meeting. This concludes the formal business of the meeting. I will now turn it back over to you, Simon.
Thank you, Crystal. Before we conclude, I want to take this opportunity to thank Jason Gardner for his many years of service as CEO of Marqeta and the last year and a half that he has served as executive chairman. Jason has been instrumental in guiding me in my role as CEO, and I want to thank him for his stewardship of Marqeta and its growth as a private company through its initial public offering in 2021, and as a driving force for our long-term success as a public company. Effective today, Jason is transitioning from executive chairman to a non-employee director, where he will serve as chairperson of the company's newly formed Payments Innovation Committee. We look forward to working closely with Jason in his new role. I now declare the meeting adjourned. Again, thank you for your time today and for your continued interest in Marqeta.
This concludes today's meeting. You may now disconnect.