Hello and welcome to the 2025 annual meeting of shareholders of Universal Display Corporation. Please note today's meeting is being recorded and will be available online after the meeting. We ask you not to record the meeting. Shareholders of record who are attending this meeting with a valid 16-digit control number may submit a question during the meeting. For a shareholder to ask a question, please click on the "Ask a Question" button on your screen. Please include your name and, if applicable, your company affiliation when doing so. Out of consideration for others, please limit yourself to one question. Questions on the same topic or that are otherwise related may be grouped, summarized, and answered together. During the meeting, we will field relevant questions related to the official business of the meeting.
It is now my pleasure to turn today's meeting over to Steve Abramson, Director, President, and Chief Executive Officer of Universal Display.
Thank you. Good morning, everyone, and welcome to Universal Display Corporation's 2025 annual meeting of shareholders. Thank you for joining our virtual meeting via webcast, and I hope that you have all been well. Today, we will conduct the formal business of the meeting as set forth in the company's Notice of Annual Meeting and Proxy Statement and Rules of Conduct, links to which are posted on the Annual Meeting website. It is our intention to conduct this meeting in accordance with these documents. Following that, I will do my best to answer questions from shareholders as appropriate and as time permits. In line with our continued efforts to streamline the annual meeting, we will not be including a company overview presentation this year. The meeting will focus solely on the formal business agenda. Now, I'd like to formally open the business portion of this meeting.
The polls for the items to be voted on in this meeting are open and will remain open until the end of the business portion of this meeting. Shareholders of record who have not already voted or who wish to change their votes may do so now by following the instructions on the Annual Meeting website. Please note that if you have already voted and do not wish to change your vote, you do not need to vote again here. The company has received an affidavit signed by a representative of Broadridge Financial Services, which is serving as Inspector of Elections and Proxy Tabulator, that Notice of this Meeting, along with related proxy and annual report materials, was mailed or made available beginning on April 24th, 2025, to shareholders of record as of the close of business on April 4th, 2025, our record date.
Based on the affidavit from Broadridge, this meeting is duly called with timely and proper notice. Based on the information provided by the Inspector of Elections, a quorum of shareholders is present in person or by proxy for the transaction of business at our meeting today. We are meeting today to vote on the proposals described in the company's proxy statement. The first item of business is the election of the 11 director nominees listed in the proxy statement, each to hold a one-year term. The nominees are Dr. Nigel Brown, Cynthia J. Comparin, Richard C. Elias, Elizabeth H. Gemmill, C. Keith Hartley, Celia M. Joseph, Lawrence Lacerte, Dr. Joan Lau, Sidney D. Rosenblatt, April Walker, and I, Steven V. Abramson, am the final nominee. Biographies for each of the nominees are included in the proxy statement, and the board recommends a vote for each of the 11 director nominees.
The second item of business is the advisory non-binding vote on the compensation of our named executive officers as described in the proxy statement. We refer to these votes as being advisory because results are not binding on the company. However, the company's board of directors and human capital committee intend to consider the results of this vote in making determinations in the future regarding executive compensation arrangements. The board recommends a vote for the compensation of our named executive officers as described in this proxy statement. The last item of business is the ratification of the company's audit committee's appointment of KPMG LLP to serve as the company's independent auditor for the year ending December 31, 2025. The board recommends a vote for this proposal. Should anyone wish to cast their vote, please do so now. We will now go into the question and answer session.
We will take shareholders' questions that have been submitted during the meeting on the Annual Meeting website, and we will try to answer as many questions as time allows. Out of consideration for others, we ask that you please limit yourself to one question and note that only questions that are appropriate to the business of the meeting will be answered. Okay. There are no questions for me to respond to. Since there is no other business to come before the meeting, the polls are now closed. I have the preliminary report from the Inspector of Elections on the voting results, and I am pleased to report that each of the proposals voted on today has been approved by the requisite vote. The Inspector of Elections will provide a final certified report of the votes following the meeting.
That report will become part of the record of this meeting and is not expected to affect the outcome of the voting I announced today. We will report the detailed voting results of today's meetings on a Form 8-K filed with the Securities and Exchange Commission in the coming days. That concludes the formal portion of the meeting, and I now declare our 2025 shareholders' meeting formally adjourned. Thank you all for joining us today. If you have any follow-up questions, please feel free to reach out to investorrelations@oled.com. I want to thank all the company's directors, executives, and partners for joining us. I would also like to thank our shareholders for your attendance at today's meeting and for your continued support of Universal Display Corporation.
This concludes the 2025 annual meeting of shareholders for Universal Display Corporation. Thank you for participating. You may now disconnect.