Hello and welcome to the Impinj Incorporated Annual Meeting of Shareholders. Please note that this meeting is being recorded. Questions may be submitted via the message icon at the top left of your screen by typing your message, then clicking the send icon to the right of the message box. The meeting is about to begin.
Good morning. On behalf of Impinj, welcome to the 2025 Annual Meeting of Stockholders. I am Cary Baker, Impinj's Chief Financial Officer, and I will conduct the business of this meeting. We are holding our Annual Meeting of Stockholders virtually this year via live webcast. Please note this meeting is being recorded. At this time, I call the meeting to order. I would like to begin by introducing the members of our Board of Directors who are virtually present at the meeting today. They are Umesh Padwal and Myron Washington. Members of our executive team, representatives of our independent public accountants, Ernst & Young LLP, and our outside corporate law firm, Wilson Sonsini Goodrich & Rosati, are also virtually present. Thank you for attending. I will now ask Yukio Morikubo, our General Counsel, Chief Compliance Officer, and Secretary, to conduct the formal part of the meeting.
Good morning. An agenda that sets forth the order of business for the meeting is displayed on the screen. You can access our rules of conduct for the meeting by clicking the documents icon on the left side of your screen at the top. We have established rules to ensure we have an orderly and informative meeting. Thank you for your cooperation in adhering to them. You may ask questions during the meeting if you registered with your 11-digit voting control number. Please click the messaging icon on the left side of your screen, type your question into the text box, then click the send icon. Please note that in the interests of all shareholders, we will only address those questions that are pertinent to the business of the meeting. Thank you for your cooperation.
At our meeting today, we will address and vote on the matters described in the company's proxy statement dated April 23rd, 2025. I am serving as the Inspector of Elections for today's meeting. As Inspector, I have signed an oath of inspector, which we will file with the minutes of this meeting. Notice of Impinj's 2025 Annual Meeting of Stockholders has been duly given in accordance with the company's bylaws and applicable law. Digital copies of the notice and proxy statement, including our proxy supplement, are also available for your review. You may access that document by clicking the annual report proxy statement link on the left side of your screen or through the document section of the meeting website.
The company's agents have certified that beginning on April 23rd, 2025, a notice regarding the internet availability of proxy materials was mailed to the company's stockholders of record as of April 16th, 2025, and the company's proxy materials were, in fact, made available over the internet to those stockholders. We will file copies of the notice and related affidavit of mailing with the minutes of this meeting. Only stockholders at the close of business on April 16th, 2025, are entitled to vote at today's meeting. As of the close of business on April 16th, 2025, there were 28,983,130 shares of common stock issued and outstanding, each entitled to one vote. A complete list of stockholders of record as of that date was available to stockholders for any purpose germane to this meeting for the 10 days preceding this meeting.
The majority of the shares entitled to vote are represented at today's meeting either virtually or by proxy. I hereby declare a quorum present and this meeting duly convened for purposes of transacting business. As you know from the proxy statement, there are three proposals before us today. I will briefly describe each of the proposals, and we will then open the polls for voting. If you have already voted your shares and do not wish to change your vote, no action is required at this time. The proxy voting site link on the left side of your screen. The first proposal is to elect six directors. The directors elected at today's meeting will hold office for a one-year term ending at the 2026 Annual Meeting of Stockholders or until their successors are duly elected and qualified.
The six candidates unanimously nominated are Chris Diorio, Daniel Gibson, Umesh Padwal, Steve Sanghi, Mira Rao, and Myron Washington. Each of these six nominees has indicated that he or she is able and willing to serve. Information concerning the nominees is contained in the proxy statement. The board recommends a vote for the election of each of these six nominees. The affirmative vote of a majority of the voting power of the shares of our common stock present in person or represented by proxy and entitled to vote is required to elect each director. The second proposal is to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm to audit the company's consolidated financial statements for the current fiscal year ending December 31st, 2025.
The audit committee of the board has selected Ernst & Young as our independent registered public accounting firm for the 2025 fiscal year. The affirmative vote of a majority of the voting power of the shares of our common stock present in person or represented by proxy and entitled to vote is required to approve this proposal. Our board of directors recommends a vote for this proposal. The third proposal is to approve on an advisory basis the compensation of our named executive officers. Because this proposal is advisory in nature, it will not affect any compensation already paid or awarded to our named executive officers and will not be binding on the company, the board of directors, or the compensation committee. However, the compensation committee will consider the outcome of this proposal when determining executive compensation for the remainder of the current fiscal year and beyond.
The affirmative vote of a majority of the voting power of the shares of our companies in person or represented by proxy and entitled to vote is required to approve this proposal on an advisory basis. Our board of directors recommends a vote for this proposal. We will now proceed to the question and comment period. I remind you that the meeting has been called for the purpose of considering the three proposals previously described. Accordingly, all questions and comments should be confined to those matters. The floor is now open for stockholder questions or comments concerning the three proposals previously described. Are there any questions or comments? There being no questions or comments, we will now proceed to the voting on the proposals. It is 9:08 A.M., and the polls are now open.
If you have previously sent a signed proxy card or submitted your proxy vote by telephone or on the internet, it is not necessary for you to vote today unless you wish to change your vote. If you were a stockholder of record as of the close of business on April 16th, 2025, or you have a valid legal proxy from your broker, bank, or other agent with respect to the shares you beneficially own and you desire to vote or change your vote at today's meeting, and if you have an 11-digit voting control number issued by Equiniti Trust Company, our company's transfer agent, you can vote by clicking the proxy voting site link on the left side of your screen. It appears all stockholders have submitted their proxies or digital ballots. I now declare the polls closed at 9:09 A.M.
No additional proxies or votes will be accepted, nor will any changes or revocations to previously submitted proxies or votes be accepted. Based on preliminary voting results, each of the six director nominees up for election at this meeting have been reelected. The Ernst & Young proposal has been approved, and the compensation of our named executive officers has been approved. We will publicly report the results of voting at today's meeting on a Form 8-K filing with the U.S. Securities and Exchange Commission within four business days of today's meeting. This concludes the official business scheduled for this meeting, and I now declare this meeting concluded. I will now turn the time over to Cary Baker for any final remarks.
I would like to thank each of you for virtually attending today's meeting. At this time, we will take questions or comments from our stockholders. Should you wish to submit a question during the meeting, please click on the messaging icon at the top of the left side of your screen, type your question into the text box, then click the send icon at the right of that text box.