Annual Meeting of Stockholders of Nucor Corporation to order. Rae Eagle, Nucor's Vice President and Corporate Secretary, will act as Secretary of the meeting. In the room with us today, we have members of Nucor's leadership team, who I'm pleased to introduce. Steve Laxton, our Chief Financial Officer, Treasurer, and Executive Vice President, Dave Sumoski, our Chief Operating Officer, and Greg Murphy, responsible for business services, sustainability, and our General Counsel, as well as the rest of our executive team who are listening in. We also have with us today the following current directors and nominees for election as directors: Chris Kearney, our Lead Director, Norma Clayton, Patrick Dempsey, Nick Gangestad, Laurette Koellner, Mike Lamach, and Nadja West.
Several of Nucor's advisors are also joining us, including from the law firm of Weil, Gotshal & Manges, Todd Eveson and Hallie Vicani, and from the accounting firm of PricewaterhouseCoopers, we have Bobby Bono. I'd like to recognize and thank Joe Rupp, who is retiring from the Board of Directors at this year's meeting and is also listening in. Joe has served as a Director of Nucor since 2020, and has been an invaluable member of this Nucor team. I want to personally thank Joe for his leadership and friendship. He will be missed, and we will always have him as a part of the Nucor family. I'd also like to recognize our retired CEOs, David Aycock, Dan DiMicco, and John Ferriola, who I'm sure are listening in today. Gentlemen, thank you for your leadership over the years and helping shape Nucor into who we are today.
Now on to some business. The secretary will please report the stockholders present or represented by proxy.
Of the 239,979,947 shares issued and outstanding and entitled to vote at this meeting, there are present or represented by proxy more than 214 million shares.
Since the holders of a majority of the shares issued and outstanding and entitled to vote at this meeting are present or represented by proxy, a quorum is present for the transaction of all items of business. I will ask the secretary to file the proxies with Nucor's records. Ray, will you please report on the notice of meeting sent to stockholders of record as of the close of business on March eleventh, 2024? These are the stockholders entitled to vote at the meeting.
I present to this meeting my affidavit showing the mailing commencing on March 22, 2024, to each stockholder of record as of the close of business on March 11, 2024, the following: The notice of the 2024 Annual Meeting of Stockholders and related proxy materials or the notice of internet availability of proxy materials. Our counsel has advised us that the mailing was made in accordance with all applicable requirements of law, including the regulations of the United States Securities and Exchange Commission and the rules of the New York Stock Exchange.
Thank you, Ray. Please annex your affidavit to the minutes to this meeting. Victor Latessa, with Broadridge Financial Solutions, has been appointed Inspector of Elections, as required by Delaware law. He has submitted his oath of office, and I ask that his oath be attached to the minutes of this meeting. The next order of business is to consider the 3 proposals for this meeting, as set forth in the notice of annual meeting and proxy statement. Proposal number 1 is the election of 8 directors. The terms of Norma Clayton, Patrick Dempsey, Nicholas Gangestad, Chris Kearney, Laurette Koellner, Michael Lamach, and Nadia West, and myself will expire at this meeting. The board's Governance and Nominating Committee has recommended, and the Board of Directors has nominated these 8 nominees for re-election for 1-year terms, ending at Nucor's Annual Meeting of Stockholders in 2025. There are no other nominees.
Nucor's Board of Directors unanimously recommends a vote for each of the eight nominees. Proposal number 2 is the ratification of the appointment of PricewaterhouseCoopers to serve as Nucor's independent registered public accounting firm for 2024. The Audit Committee of the Board of Directors has appointed PricewaterhouseCoopers to serve as Nucor's independent registered public accounting firm for 2024. Nucor's Board of Directors unanimously recommends a vote for this proposal. In proposal number 3 is an advisory vote to approve Nucor's named executive officer compensation in 2023. Nucor's Board of Directors unanimously recommends a vote for this proposal. If you are a stockholder entitled to vote and have not yet voted, or if you want to change your previously cast vote, please do so via the website used to access this meeting.
Please remember that if you have already voted by proxy, it is not necessary for you to vote again. The polls are about to close, so if you've not yet voted, please do so at this time. I declare the polls closed and ask that the Inspector of Elections to announce the preliminary results of the vote.
I submit a certificate of the Inspector of Election, certifying to the vote. Proposal number one, all eight director nominees have been re-elected as directors of the company. Proposal number two, the appointment of PricewaterhouseCoopers to serve as Nucor's independent registered public accounting firm for 2024 has been ratified by the stockholders. Proposal number three, Nucor's named executive officer compensation in 2023 has been approved on an advisory basis by the stockholders.
Thank you, Victor. If there are no further business to come before this meeting, a motion to adjourn is in order.
I move.
I second the motion. A motion has been made and seconded. Without objection, I declare that this meeting is adjourned. We'd like now to hear from you. You may submit your questions by following the instructions on your screen. Jack, are there any questions at this time?
Yes, Leon, a couple. The first question comes from a stockholder interested in learning more about our application of artificial intelligence. The question is: Can management please comment on applications for AI within Nucor, and how use of AI may lead to increased productivity, decreased costs, and overall improvement of manufacturing and overall performance?
Thank you, Jack. In our overall involvement with AI is a continued evolution and growth of Nucor. As Nucor's come and embraced automation, machine learning, and advanced technologies, AI is a natural extension. So specifically, we have roughly three projects that are in the works today, regarding different aspects of AI, from scheduling to efficiencies in the yield and the production capability sets of Nucor, to think about how we streamline our operations to do just what you asked in lowering our cost, improving our yields. And third, also engaging to look at how AI can help us examine and eliminate risk from our operations to continue our journey in becoming the world's safest steel company. We have an incredible team that continues to look more broadly at AI and its applications across the operations, and we'll continue to keep you informed as we move forward.
Thank you for the question.
Great. Our second and last question that's been submitted relates to our attendance here at this annual shareholder meeting. This stockholder asks: How many shareholders and guests are present at the meeting?
We have a total today of 45 that are logged in.
Very good. Well, that concludes the Q&A portion of the meeting. If there are any additional questions, please contact our investor relations team, and at this time, I'll hand it back to Leon for some closing remarks.
Thank you, Jack. I'd like to close by thanking our teammates for your continued focus in delivering on our most important value, the safety, health, and well-being of all team members who make up the Nucor family. To our customers, thank you for the trust you place in the Nucor team with every order. Our investment strategy is to build upon the capabilities to serve you today and well into the future. And finally, I'd like to thank our stockholders for attending today. We take seriously the trust you place in our team, and we will continue to be disciplined in our approach toward capital allocation and our long-term goal of generating attractive returns for our stockholders. Thank you, and have a great day.