Welcome to the MYR Group 2026 annual meeting of stockholders. It is my pleasure to introduce Ken Hartwick, Chair of the Board of Directors. Please go ahead.
Good morning. I'm Ken Hartwick, Chairman of the Board of Directors. I would like to extend to you a warm welcome and express our appreciation for participating in our annual meeting of shareholders and for your support of MYR. I'm joined today by our entire board of directors, including our President and Chief Executive Officer, Rick Swartz, as well as management from the company, including Kelly Huntington, Senior Vice President and Chief Financial Officer, Brian Stern, Senior Vice President and Chief Operating Officer of our Transmission and Distribution segment, Don Egan, Senior Vice President and Chief Operating Officer of our Commercial and Industrial segment, and Will Fry, Senior Vice President, Chief Legal Officer, and Corporate Secretary. Will Fry has also been appointed secretary for this meeting. Representatives from the company's independent auditor, Crowe, are also in attendance, as is our inspector of elections.
We are holding our meeting virtually because we believe it enables greater shareholder attendance and participation from any location around the world, improves our ability to communicate effectively with shareholders, and reduces the costs and environmental impact of our meeting. To provide a fair, informative, and orderly process, we have established rules of conduct for this meeting. These rules, along with the technical support information, can be found on your screen. We will conduct the meeting in accordance with these documents, and your cooperation in observing the rules of conduct is greatly appreciated. During the meeting, shareholders will have the opportunity to submit written questions related to the proposals by typing them into the Ask a Question field on the webcast portal and then clicking Submit. We will do our best to respond to appropriate questions during the Q&A portion of the meeting. The meeting is now called to order.
Resolutions were adopted at the February 19th, 2026, meeting of the board of directors, providing for the annual shareholders meeting to be held and notice to be given. The board set February 27th, 2026, as the record date for determining persons entitled to notice for and to vote at this meeting. A list of shareholders entitled to vote at the meeting is open to the examination of any shareholder on the webcast portal. Only holders of common stock on the record date are entitled to vote at this meeting. A copy of the notice of this meeting and affidavit as to the distribution of notice of annual meeting of shareholders will be filed with the minutes of this meeting. At the close of business on February 27th, 2026, the record date, 15,540,073 shares of the company's common stock were outstanding.
The inspector has determined that holders of not less than 13,672,469 shares of common stock, or approximately 88% of the shares outstanding on the record date, are represented at this meeting in person or by proxy. Therefore, a quorum is present. As proper notice has been given and a quorum is present, this meeting has been properly convened. At this time, we will consider the items of business on the agenda. Proposal number one, the first matter to be considered at today's meeting, which is further described in the Proxy Statement, is the election of eight director nominees for one-year terms. No shareholder nominations were properly filed with the Corporate Secretary in advance of the meeting. Therefore, I declare the nominations for directors closed. Proposal number two, a vote on an advisory approval of the compensation of our Named Executive Officers.
Proposal 3, ratification of the appointment of Crowe LLP as our independent registered public accounting firm for the fiscal year ended December 31st, 2026. These proposals are described in detail in the proxy statement, and the board recommends that the shareholders vote for each of the nominees named in proposal 1 and for proposals 2 and 3. The company bylaws require the shareholder provide advance written notice to the company of a shareholder's intention to bring a matter before the annual meeting. Since no shareholder notices were properly filed with the Corporate Secretary in advance, there will be no other business considered at this meeting. It is approximately 8:02 Mountain Time, and the polls are now open. You may vote on the web portal at this time.
Let me remind you that if you have already voted, there is no need for you to vote on the web portal unless you wish to change your vote. Now that everyone has had the opportunity to vote, I declare the polls now closed at approximately 8:05 Mountain Time. The inspector has informed us that based on the preliminary vote report, each of the nominees named in Proposal 1 have been elected and Proposals 2 and 3 have passed. The inspector of elections will execute a report on the results of the vote that will be filed with the minutes of the meeting. Seeing there is no further official business, the meeting is adjourned. The final voting results will be included in a Form 8-K that the company will file with the Securities and Exchange Commission.
You can go to our website at myrgroup.com to access this filing and all of our other SEC filings. This concludes the meeting, and thank you.
The call is now concluded. You may now disconnect.