Hello and welcome to the Annual Meeting of Stockholders of Pacific Biosciences of California Incorporated. Please note today's meeting is being recorded. During the meeting we'll have a question and answer session. You can submit questions or comments at any time by clicking on the message icon. It is now my pleasure to turn today's meeting over to Mike Hunkerpiller, Chief Executive Officer and President.
Mr. Hunkerpiller, the floor is yours.
Thank you. Good morning, ladies and gentlemen, and welcome to PacBio's twenty twenty Annual Meeting of Shareholders. I am Mike Hunkerpiller, Chief Executive Officer and President of Pacific Biosciences of California, Inc. We especially welcome you to this virtual meeting of stockholders and hope that you and your families are well at this unique time in our nation's history. Today's meeting will consist of the formal annual meeting to address the proposal set forth in our proxy statement.
As provided in the company's bylaws, I will act as chairman of this meeting. I've asked Brett Atkins, our general counsel and corporate secretary, to act as secretary of the meeting and to record the minutes. Also with us remotely today are members of the Board of Directors, Christian Henry, David Botstein, Kathy Rodonias, John Milligan, and Lucy Shapiro. Susan Barnes, our Executive Vice President and Chief Financial Officer Ben Gong, our Vice President of Finance and Treasurer Eric Schafer, the company's Vice President and Chief Accounting Officer Trevin Raird from the company's Investor Relations team, Donna Pitconix and Andrew Hoffman of Wilson, Sissini, Goodrich and Rosati, Sherita Jolley and Rachel Lu of Ernst and Young, our independent registered public accounting firm, and Mike Gomgul, representing our transfer agent CompuShare. I will now turn the meeting over to Brett Atkins who will conduct the formal part of the meeting.
Good morning. And again, welcome to PacBio's twenty twenty Annual Meeting. The meeting is being held in accordance with the company's bylaws and Delaware law. During the formal meeting, we will address the matters described in the proxy statement, which was first made available to all stockholders on or about 06/24/2020, and is available on the company's website and the SEC's website. I have proof by affidavit that notice of this meeting has been duly given and that the notice of Annual Meeting of Stockholders, proxy statement and proxy were mailed on or about 06/24/2020, to stockholders of record on 06/15/2020, the record date for the meeting.
Mike Dromgul, a representative of Computershare, is acting as our Inspector of Election for this meeting. The Inspector of Election has a complete list of the holders of record of the outstanding shares of the company's common stock on the record dates of the meeting, which is also accessible on the virtual meeting website. Based on information provided by the inspector, I can confirm we have present remotely or by proxy a sufficient number of shares to constitute a quorum. Therefore, the meeting is duly constituted, and we may proceed with business. If you have previously submitted your proxy, it is not necessary that you complete another proxy or vote.
Those stockholders who have not submitted proxies and who wish to vote remotely or if you want to change your vote, please follow the instructions provided online. It is now 09:04 a. M. Pacific Time on 08/04/2020, and the polls for each matter to be voted on at this meeting are now open. The first item of business is the election of Class I directors.
As indicated in the company's proxy statement, Christian Henry, Doctor. John Milligan and Doctor. Lucy Shapiro are nominated by the Board of Directors to serve as the company's Class I directors with terms expiring in 2023. The Board of Directors recommends voting for the three nominees. The second item of business is the ratification of the appointment of Ernst and Young LLP to serve as the company's independent registered public accounting firm for the fiscal year ending 12/31/2020.
The Board of Directors recommends voting for the ratification of Ernst and Young. The third item of business is the advisory vote on the compensation of our named executive officers. Although this vote is nonbinding, the Board of Directors will consider the outcome when making future compensation decisions for our executive officers. The Board of Directors recommends voting for the approval of the compensation of our named executive officers. The fourth item of business is the approval of the company's 2020 equity incentive plan.
Our Board determined that it was in the best interest of the company and its stockholders to adopt a new 2020 equity incentive plan and to terminate the 2010 equity incentive plan and 2010 outside director equity incentive plan, subject to approval from our stockholders at this annual meeting of the 2020 plan. We believe that the approval of the 2020 equity incentive plan is essential to our continued success. Awards provided under such plan are vital to our ability to attract and retain outstanding and highly skilled individuals and motivate employees to achieve our goals. The Board of Directors recommends voting for approval of the 2020 equity incentive plan. We will now proceed to the question and comment period.
You will have an opportunity to vote after discussion has taken place. I remind you that the meeting has been called for the purpose of considering the four items of business previously described. Accordingly, all questions and comments should be confined to those matters at this time. The virtual meeting webcast is now open for stockholder questions or comments concerning the business before the meeting. Any stockholder who has questions or comments should submit your questions or comments following the instructions on the online meeting site.
If you are voting today, you must submit your votes online at this time in order for them to be counted by the inspector of election. The inspector of election will not accept votes or change or revocations submitted after the closing of the polls. Okay. We see that we have no questions. And it is now 09:07 a.
M. Pacific Time on 08/04/2020. The polls for each matter to be voted on at this meeting are now closed. The proxies and votes will be tabulated by the Inspector of Election. I'll go through the preliminary results of voting that we have.
With regard to Proposal one, the preliminary votes cast for each of Christian Henry, Doctor. John Milligan, and Doctor. Lucy Shapiro exceeded the number of votes cast against each such nominee. Christian Henry received 100,103,537 votes for his election, 3,403,405 votes against his election, and 102,628 votes abstained with respect to his election. Doctor.
John Milligan received 99,984,854 votes for his election, 3,404,369 votes against his election, and 220,347 votes abstained with respect to his election. Lucy Shapiro received 96,214,036 votes for her election, 7,145,634 votes against her election, and 249,900 votes abstained with respect to her election. With regard to Proposal two, the ratification of Ernst and Young LLP to serve as the company's independent registered public accounting firm, the proposal passed with a preliminary vote of 99.6% of the shares voting in favor, 0.34% against and 0.06% abstaining. With regard to Proposal three, the advisory approval of the compensation of our named executive officers, the proposal passed with a preliminary vote of 97.19% of the shares voting in favor, 2.49% against and 0.32% abstaining. With regard to Proposal four, approval of the company's 2020 equity incentive plan in its material terms, the proposal passed with a preliminary vote of 88.6% of shares voting in favor, 11.16% against and 0.24% abstaining.
The final results of voting will be set forth in the report of the Inspector of Election and will also be reflected in a current report on Form eight ks filed with the SEC. I will now turn the meeting back to Mike.
Thanks, Brett. This concludes the formal business of the Annual Meeting of Stockholders. The meeting is now adjourned.
This concludes the meeting. You may now disconnect.