Good morning, and welcome to the Nextdoor Holdings, Inc. 2024 Annual Meeting of Stockholders. Please note that this event is being held via live webcast. I would now like to turn the meeting over to Nirav Tolia, Chief Executive Officer, President, and Chairperson of the Board of Directors of the company and Chairperson of the Annual Meeting.
Thank you. Good morning, everyone. Welcome, and thanks for joining us to our 2024 Annual Meeting of Stockholders. I'm Nirav Tolia, Chief Executive Officer, President, and Chairperson of the Board of Directors of Nextdoor. I will act as the Chairperson of this Annual Meeting and now call the meeting to order. We are excited to be hosting our Annual Meeting virtually, with our stockholders attending via our web meeting portal. Through this online platform, we believe we are able to increase stockholder participation and reach a greater number of our stockholders without needing to meet in person. I would now like to introduce Sophia Schwartz, our General Counsel and Secretary, who will act as Secretary of this Annual Meeting and keep the minutes.
Thanks, Nirav. I'm advised by the Inspector of Elections that a majority of the voting power of our outstanding shares of common stock entitled to vote at this meeting is present or represented by proxy here today, and that a quorum is therefore present and we are authorized to transact business at this meeting. We will describe the proposals to be voted on today later during the meeting. Polls are now open for voting. Voting is by proxy and electronic ballot. Any stockholder who has not voted or wishes to change his or her vote may do so by clicking on the vote button on the webcast portal and following the instructions there. Stockholders who have sent in proxies or previously voted via the internet or by phone, or who do not wish to change their vote, do not need to take further action.
Their votes will be counted automatically. We expect to close the polls approximately 30 seconds after the presentation of matters to be voted on at the meeting and the question and answer session. We will answer questions regarding matters to be voted on at the meeting after all matters have been presented as appropriate. Stockholders are limited to one question each, and questions must be submitted prior to the start of the questions and answers portion of this meeting. Though we may not be able to answer every question, we will do our best to respond to as many as possible in the time permitted. The time permitted for the questions and answers session will be limited to 10 minutes. Please note that stockholders who want to ask a question may do so by inputting the question in writing where indicated on the webcast portal for this meeting.
Only stockholders are permitted to submit questions, and you must have your 16-digit control number to do so. This meeting is being recorded. However, no one attending via the webcast is permitted to use any audio recording device. A webcast playback will be available on the investor relations section of our website within 24 hours of the meeting. The webcast will be available for approximately one year. In addition to Nirav and myself, we are also joined on this call today by Chris Varelas, David Sze, Dana Evan, Niraj Shah, Robert Hohman, and Marissa Mayer, who are members of our Board of Directors, as well as Matt Anderson, Bryan Power, Craig Lisowski, James Kelm, and Eric Filler from our leadership team. Also present are Patrick Auger and Virginia Roberson of Ernst & Young LLP, our independent registered public accounting firm.
Patrick and Virginia will be available during the question and answer session to respond to appropriate questions. Arielle Trapp of Fenwick & West LLP, our outside legal counsel, and Anita Gillespie of American Election Services, LLC, who has executed the oath of Inspector of Elections and will act as the Inspector of Elections for this meeting and tabulate results of the voting. Let me now turn to the formal business of this meeting. The proposals to be considered are described in our proxy statement dated April 26, 2024, and proxy supplement dated May 7, 2024, and I will review these in a few minutes. But first, I will report on the notice for this meeting. Our Board of Directors fixed April 19, 2024, as the record date for determining the stockholders entitled to vote at this meeting.
I present to this meeting an affidavit of Broadridge Financial Services attesting that a revised notice of internet availability of proxy materials was mailed on or about May 7, 2024, to all of Nextdoor stockholders of record determined as of the close of business on the record date. The affidavit will be incorporated into the minutes of this meeting. The list of stockholders shows that as of the record date, there were 190,326,519 shares of our Class A common stock and 201,193,208 shares of our Class B common stock outstanding and entitled to vote at this meeting, with each share of Class A common stock entitled to one vote and each share of Class B common stock entitled to 10 votes. I will now present the matters to be voted upon. Proposal One, election of one Class Three Director.
As stated in the notice of this Annual Meeting, our proxy statement and proxy supplement, the first item of business is the election of one Class Three Director, Chris Varelas, who is currently serving as a director on our Board of Directors to be elected for a three-year term expiring at our 2027 Annual Meeting of Stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation, disqualification, or removal. Except as otherwise provided for in Proposals 5A and 5B, no other director nominees have been properly submitted for election pursuant to our amended and restated bylaws or the Securities and Exchange Commission rules. Therefore, no other nominations may be accepted. The Board of Directors recommends a vote for the election of the nominated director.
As Secretary of this Annual Meeting and on behalf of the Board of Directors, I move for the election of the nominated director, which motion is seconded by proxy. Proposal two, ratification of independent registered public accounting firm. The second item of business is to ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the year ending December 31, 2024. The Board of Directors recommends a vote for the ratification of the appointment of Ernst & Young LLP. As Secretary of this Annual Meeting and on behalf of the Board of Directors, I move for the approval of this proposal, which motion is seconded by proxy. Proposal three, advisory vote on the compensation of our named executive officers. The third item of business is to approve on a non-binding advisory basis the compensation of our named executive officers.
The Board of Directors recommends a vote for the approval on a non-binding advisory basis of the compensation of our named executive officers. As Secretary of this Annual Meeting and on behalf of the Board of Directors, I move for approval of this proposal, which motion is seconded by proxy. Proposal Four, approval of the amendment of our amended and restated certificate of incorporation. The fourth item of business is to approve the amendment of our amended and restated certificate of incorporation to limit the liability of certain of our officers as permitted pursuant to the Delaware General Corporation Law. The Board of Directors recommends a vote for the amendment of our amended and restated certificate of incorporation. As Secretary of this Annual Meeting and on behalf of the Board of Directors, I move for approval of this proposal, which motion is seconded by proxy.
Proposal Five, election of two additional Class Three Directors. The fifth item of business is the election of two additional Class Three Directors, each of whom is currently serving as a director on our Board of Directors, each to be elected for a three-year term expiring at our 2027 Annual Meeting of Stockholders and until his or her successor has been duly elected and qualified, or until his or her earlier death, resignation, disqualification, or removal. The director nominees are Marissa Mayer and Niraj Shah. Except as otherwise provided for in Proposal One, no other director nominees have been properly submitted for election pursuant to our amended and restated bylaws or the Securities and Exchange Commission rules. Therefore, no other nominations may be accepted. The Board of Directors recommends a vote for the election of each of the nominated directors. This concludes the discussion of the proposals.
We will now address any questions that stockholders have submitted that are relevant to the proposals. Please note that we will not address any questions that are irrelevant to the matters presented at this meeting. As noted earlier, stockholders are limited to one question each. The time permitted for the question and answer session is limited to 10 minutes. If we do not receive any relevant questions, we will conclude the question and answer session earlier. We do not see any questions and will conclude the question and answer session. As noted earlier, the voting today is by proxy and electronic ballot. Any stockholder who has not voted or wishes to change his or her vote may do so by clicking the vote button on the webcast portal and following the instructions there.
Stockholders who have sent in proxies or previously voted via the internet or by phone, or who do not wish to change their vote, do not need to take further action. Their votes will be counted automatically. We expect to leave the polls open for approximately 30 seconds to allow anyone who chooses to vote here to cast ballots. Time begins now. Now that everyone has had the opportunity to vote, I now declare the polls for the 2024 Annual Meeting of Stockholders of Nextdoor Holdings, Inc. closed. We now have preliminary voting results.
The director elected pursuant to Proposal One is elected by a plurality of the votes of the shares of capital stock present in person or represented by proxy at the meeting and entitled to vote on the election of directors, which means that the nominee receiving the highest number of for votes will be elected to the Board of Directors. Based on the results as tabulated by the Inspector of Elections, Chris Varelas is the nominee on the ballot who received the highest number of four votes cast and therefore has been elected to the Board of Directors.
The vote required to approve Proposal Two is the affirmative vote of the holders of a majority of the voting power of the shares of capital stock entitled to vote on Proposal Two that are present in person or represented by proxy at the meeting and are voted for or against the matter. Based on the results as tabulated by the Inspector of Elections, the proposal to ratify the appointment of Ernst & Young LLP as Nextdoor's independent registered public accounting firm for the year ending December 31, 2024, has been approved by a majority of the votes cast.
The vote required to approve Proposal Three is the affirmative vote of the holders of a majority of the voting power of the shares of capital stock entitled to vote on Proposal Three that are present in person or represented by proxy at the meeting and are voted for or against the matter. Based on results as tabulated by the Inspector of Elections, the proposal to approve on a non-binding advisory basis the compensation of our named executive officers has been approved by a majority of the votes cast. The vote required to approve Proposal Four is the affirmative vote of the holders of a majority of the voting power of all of the outstanding shares of our Class A common stock and Class B common stock entitled to vote on Proposal Four.
Based on results as tabulated by the Inspector of Elections, the proposal to approve the amendment of our amended and restated certificate of incorporation has been approved. Directors elected pursuant to Proposals 5A and 5B are elected by a plurality of the votes of the shares of capital stock present in person or represented by proxy at the meeting and entitled to vote on the election of directors, which means that the two nominees receiving the highest number of for votes will be elected to the Board of Directors. Based on the results as tabulated by the Inspector of Elections, Marissa Mayer and Niraj Shah are the two nominees on the ballot who received the highest number of for votes cast, and therefore each nominee has been elected to the Board of Directors. There are no other formal items of business before this meeting.
Final results of the vote will be recorded as stated in the minutes of this meeting and also filed with the Securities and Exchange Commission on a Form 8-K within four business days. This concludes our meeting, and the Annual Meeting is now adjourned. Thank you for your participation.