Good afternoon and welcome to the 2025 Annual Meeting of Stockholders of Outset Medical Incorporated. I would now like to turn the meeting over to Leslie Trigg, Outset Medical's Chair and CEO.
Thank you very much. I'm Leslie Trigg, Chair and CEO of Outset Medical, and I'll be presiding as the Chair of this meeting. John Brottem, our General Counsel and Secretary, is joining me today and will serve as Secretary of the meeting. I'd like to start by welcoming you to Outset Medical's 2025 Annual Meeting of Stockholders. With us today are several other members of our board. In addition to myself, we have Karen Drexler, Keith Grossman, Patrick Hackett, Brent Lang, Kevin O'Boyle, and Andrea Saia. We're also joined by Nabeel Ahmed, our Chief Financial Officer, who will be available to answer questions during the Q&A session, and our VP of Investor Relations, Jim Mazzola, who will help moderate the Q&A.
I would also like to welcome Caroline Reed and Anna Mendoza of KPMG LLP, the company's independent registered public accounting firm, who are available to respond to appropriate questions from stockholders. Also in attendance is Trish Hodson, a representative of Broadridge, who will serve as our Inspector of Elections. The formal business for today's meeting is set forth in your Notice of Annual Meeting and Proxy Statement, and the agenda is posted on the virtual meeting website. I will now turn the meeting over to John.
Thanks, Leslie. Just a few reminders before we begin. Please review and observe our rules of conduct for this meeting, which are posted on the virtual meeting website. To vote or submit questions while participating in this meeting, you must have accessed this meeting as a stockholder with your 16-digit control number. If you have already voted by proxy and do not wish to change your vote, your vote will be cast as previously instructed, and no further action is necessary. If you wish to vote online during the meeting, you may do so through the virtual meeting website at any time before the polls are closed. We welcome questions from our stockholders. We will respond to any appropriate questions regarding the matters on the agenda prior to closing the polls.
Questions regarding Outset's business that are not otherwise related to the agenda items will be addressed during our Q&A session at the end of the meeting. Lastly, please note that this meeting is being recorded, and a webcast playback will be available for one year at the same link you use to access this meeting. Now, on to the formal part of this meeting. Broadridge Financial Solutions Inc, our proxy service provider, has indicated by affidavit that commencing on April 11th, 2025, notice of this annual meeting was mailed to all stockholders of record at the close of business on April 3rd, 2025, the record date for this meeting. Trish Hodson, a representative of Broadridge, has been appointed as the Inspector of Elections and has signed an oath of office, which we will file with the minutes of this meeting.
The Inspector of Elections has informed me that at least a majority of the shares entitled to vote at this meeting are present virtually in person or by proxy. As this constitutes a quorum, we may now proceed with the official business of the meeting.
I will now call the 2025 Annual Stockholders Meeting to order. It is now 10:34 A.M. Pacific time, and the polls are open for voting. There are five formal items of business to be considered today by the stockholders. The first item of business is the election of two Class 2 directors named in the proxy statement, Keith Grossman and Patrick Hackett, to hold office until the 2028 Annual Meeting. The second item of business is a non-binding advisory vote to approve the 2024 named Executive Officer compensation as described in our proxy statement. The third item of business is approval of an amendment to our 2020 Equity Incentive Plan to increase the number of shares of common stock available for issuance under the plan by 1,950,000 shares.
The fourth item of business is approval of an amendment to our Employee Stock Purchase Plan to increase the number of shares of common stock available for issuance under the plan by 250,000 shares. Lastly, the fifth item of business is the ratification of the appointment of KPMG LLP as Outset's independent registered public accounting firm for 2025. Jim, have we received any questions regarding these items of business?
No, there are no questions related to the proposals.
As there are no further items of business to be considered at today's meeting, John will now describe the voting procedures.
As a reminder, if you have already voted by proxy and do not wish to change your vote, your vote will be cast as previously instructed and no further action is necessary. At this time, I ask any stockholder who desires to vote online to please conclude their voting through the virtual meeting website as the polls will be closed shortly. It is now 10:36 A.M. Pacific time, and the polls are now closed for voting.
Thanks, John. May we have the preliminary results of the voting?
Based on a preliminary review of the votes, the Inspector of Elections has informed me of the following. Each of the Class 2 director nominees, Keith Grossman and Patrick Hackett, has been elected to hold office until our 2028 Annual Meeting. The proposal to approve the 2024 compensation of our named Executive Officers, as disclosed in our proxy statement, on a non-binding advisory basis has been approved. The proposal to approve an amendment to our 2020 Equity Incentive Plan to increase the number of shares available under the plan by 1,950,000 shares has been approved. The proposal to approve an amendment to our Employee Stock Purchase Plan to increase the number of shares available under the plan by 250,000 shares has been approved, and the ratification of the appointment of KPMG LLP as Outset Medical's independent registered public accounting firm for 2025 has passed.
After all verifications have been completed by the Inspector of Elections, we plan to publicly announce the official voting results on a Form 8-K to be filed with the SEC within the next four business days.
This now concludes the formal business of our Annual Meeting of Stockholders, and we will now proceed to our general Q&A session. Jim, have we received any questions regarding the company's business?
There are no questions.
Okay. Thank you again for attending our Annual Meeting of Stockholders. We appreciate your continued support of Outset Medical, and the meeting is now adjourned.
That concludes our meeting today. Thank you for joining. You may now disconnect.