Good morning, everyone, and thank you for attending the Parker-Hannifin Corporation 2026 Annual Meeting of Shareholders. I am Jenny Parmentier, Parker's Chairman of the Board and Chief Executive Officer. I will be acting as Chairman of this meeting, and I am pleased to call the meeting to order and give a warm welcome to our shareholders who are here in person or listening on the webcast. Sitting here next to me is Joe Leonti, Executive Vice President, General Counsel and Secretary of Parker. Joe will be acting as Secretary of this meeting. I would also like to introduce our director nominees and a few other Parker executives and representatives in attendance. Our director nominees, who are all here with us today, are Denise Russell Fleming, Lance Fritz, Linda Harty, Jean Savage, Laura Thompson, James Verrier, Jim Wainscott, Beth Wozniak, and myself.
Along with Joe and I, we have many other company executives here today, including Andy Ross, President and Chief Operating Officer, and Todd Leombruno, Executive Vice President and Chief Financial Officer. Also present are Richard Kretz, a representative from Broadridge Financial Solutions, and Matt Piros, a representative from Deloitte & Touche LLP, our independent registered public accounting firm. Richard has been appointed to act as Inspector of Election for this meeting, and Matt will be available to answer appropriate questions about the company's financial statements during the question -and -answer period following this meeting. Before we move to our items of business for the meeting, I'd like to first acknowledge two other Parker leaders who are here with us today. First, Berend Bracht, Vice President and President of our Motion Systems Group, will be retiring from Parker at the end of this calendar year.
Berend has had an exceptional 35-year career as a leader in the industrial manufacturing sector, the last eight of which have been at Parker. He has been an outstanding leader for us, and we are grateful for the many positive impacts he has had on our team members and our business. We will certainly miss him but look forward to continuing to work with him over the next couple of months and properly thanking and celebrating him in the weeks ahead. Berend, thank you, and congratulations on your well-deserved retirement. Second, I'd also like to acknowledge Kevin Lobo, one of our current directors who is retiring from our board as of today. Kevin has served on our board since July 2013, is a truly exceptional director and person, and his leadership, expertise, and support has been instrumental to our success over the course of his tenure.
Kevin, on behalf of our board and leadership team, I'd like to extend our heartfelt gratitude to you for your many years of leadership, dedication, and extensive contributions to Parker. You served our board and shareholders with distinction. Berend and Kevin, thank you again, and we wish you and your families great health and happiness in the years ahead. Please join me in thanking Berend and Kevin by giving them a big round of applause. Thank you. Before we move on to our voting items, I would first like to turn it over to Joe to cover a few procedural matters.
Thank you, Jenny. Good morning, everyone. I'd also like to personally thank Berend and Kevin for all their outstanding leadership and support over the years. It has been an absolute honor to work with them, and they are leaving tremendous legacies that we are all going to benefit from for many years to come. Thank you both for everything you have done for Parker and for our shareholders. As Jenny mentioned, I would like to cover a few procedural items here today. First, today's meeting is being held pursuant to our notice of annual meeting of shareholders and proxy statement that was dated and filed with the U.S. Securities and Exchange Commission on September 18, 2026. That notice and proxy statement was also mailed starting on September 18 to all of our shareholders of record as of the close of business on September 4, 2026.
Second, those that are here in person have a copy of today's agenda and rules of conduct to make sure that we have an orderly meeting. We are going to need everybody to abide by the rules of conduct. To quickly review the agenda, what we will do is first conduct the annual meeting of shareholders. There, we will present the three voting items, collect any remaining ballots or proxy cards, close the polls, and announce the preliminary voting results. We will then adjourn the meeting, and Jenny will make a few closing comments, and we will have a brief question- and -answer period. Third, in my capacity as Secretary, I do deliver and present the following documents. These will all be referenced and incorporated into the minutes of this meeting. I have the minutes of our last annual meeting of shareholders, which was held on October 22, 2025.
I have the financial statements of the company for the fiscal year ended June 30, 2026, certified by Deloitte & Touche LLP. I have an affidavit of mailing that notice of today's annual meeting was duly given, and I have a list of the company's shareholders of record as of September 4, 2026, certified by our transfer agent at Equiniti Trust Company. Fourth, all shareholders of record as of the close of business on September 4, 2026, are entitled to vote here today at the annual meeting of shareholders. We ask if there is any record date shareholders who are present and they are either still holding proxies or wanting to vote here in person, please come down and see Mr. Kretz right now. One? Okay, thank you.
The last thing I would like to report is that Mr. Kretz has advised that there are present in person or by proxy at least 112 million shares of Parker common stock. That represents over 88% of our issued and outstanding common shares, and it is a quorum for the transaction of business. That concludes the procedural matters I wanted to cover, so I'll turn it back over to Jenny to take us through our voting matters.
Thank you, Joe. There are three proposals being voted on here today. The first proposal is the election of directors. Our board has nominated and recommends voting for the election of the following nine individuals to serve as directors for the one-year term expiring at the 2027 annual meeting of shareholders, Denise Russell Fleming, Lance Fritz, Linda Harty, Jenny Parmentier, Jean Savage, Laura Thompson, James Verrier, Jim Wainscott, and Beth Wozniak. The second proposal is to approve the compensation of our named executive officers on a non-binding advisory basis. Our board also recommends a vote for this proposal. The third proposal is to ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending June 30, 2027. Our board also recommends a vote for this proposal. Those are the three proposals being voted on today.
Are there any questions or comments on those proposals? The Inspector of Election will now collect any remaining outstanding ballots or proxy cards. The votes are now in, and I declare the polls closed. Joe, please go ahead and review the preliminary vote results.
Thank you, Jenny. Based on the preliminary vote results, each of the director nominees has been elected. The compensation of our named executive officers has been approved on a non-binding advisory basis, and the appointment of Deloitte & Touche as our independent registered public accounting firm for fiscal year 2027 has been ratified. Please note that the final report of our Inspector of Election will include any ballots that were collected before the polls closed and that were not included in this preliminary report. After our Inspector of Election certifies and issues its final report, we will file a Form 8-K with the SEC disclosing the final vote results. Jenny, that concludes my report.
Thank you, Joe. With no further business to be addressed at the 2026 annual meeting of shareholders, the meeting is now formally adjourned. Before we move into Q&A, I just want to remind everyone that we will be updating investors on our fiscal year 2027 first quarter performance in our next earnings webcast, which is scheduled for November 5, 2026, at 11:00 A.M. Eastern Time. I'd also like to make a few brief comments on the business. As we reflect on fiscal year 2026, we delivered another year of record performance. This was our safest year ever, underscoring the care and commitment our team members bring to their work every day.
We also exceeded $20 billion in sales for the first time in Parker's history and surpassed our fiscal year 2029 adjusted segment operating margin target three years ahead of schedule, demonstrating the strength, resilience, and capability of our business. Our fiscal year 2026 results reflect our disciplined execution of the Win Strategy, the benefits of our ongoing portfolio transformation, and the value of our decentralized operating structure, interconnected technologies, and deep customer relationships. We also made and announced strategic acquisitions that further build and strengthen our technology offerings and give our team members and channel partners more ways to create value for customers. We enhanced our electrification capabilities with the acquisition of Curtis Instruments in September 2025. In May 2026, we announced the pending acquisition of CIRCOR's commercial and defense aerospace business, adding complementary flight-critical capabilities.
In August 2026, we completed our acquisition of Filtration Group Corporation, which expands our offering of proprietary filtration technology. I am incredibly proud of our team members around the world for their hard work, continuous improvement mindset, and unwavering focus on serving our customers, supporting one another, and once again, delivering exceptional results. Looking ahead, we are confident in Parker's ability to build on this momentum. We are well-positioned to continue creating value through the strength of our business system, our engineering expertise, our broad and interconnected technology portfolio, and the dedication of our team members. While we remain focused on executing through whatever conditions lie ahead, I believe Parker's future is exceptionally bright. Thank you to our team members for all you do and to our shareholders for your continued confidence and partnership as we continue on our journey from better to best.
With that, if there are any questions from the floor, we will now open it up for a brief Q&A period. On behalf of our board of directors and our team members around the world, thank you for attending and participating today and for your continuing support of Parker-Hannifin Corporation.