Welcome, everyone, and thank you for joining our 2026 annual meeting of stockholders. I'm Ryan Taylor, the Chief Revenue Officer and Chief Legal Officer of Palantir Technologies. I'd like to welcome the members of our board of directors and our executive officers who are virtually attending this meeting. We also have with us representatives from Ernst & Young, our independent registered public accounting firm, as well as legal counsel from Wilson Sonsini Goodrich & Rosati. Stockholders are voting on the following matters. One, elect seven directors. Two, ratify the appointment of Ernst & Young as the company's independent registered public accounting firm for the year ending December 31st, 2026. Three, advisory vote to approve named executive officer compensation. Four, each of the three stockholder in the materials for this meeting. Five, transact any other business that may properly come before the meeting.
We have appointed [Jim Rate] to act as the Inspector of Election today. He has executed an oath of office to carry out his duties with strict impartiality and to the best of his ability, and he will examine and tabulate the proxies and ballots at this meeting. This annual meeting is being held in accordance with the company's bylaws and Delaware law. We will address the matters described in the company's proxy statement dated April 24th, 2026. An agenda for the meeting has been made available, which includes voting on the six proposals in our 2026 proxy statement and an announcement of preliminary voting results. Our board of directors has fixed the close of business on April 6th, 2026, as the record date for determining the stockholders entitled to vote at this meeting.
I have an affidavit of distribution from Broadridge Financial Solutions confirming that the notice of internet availability related to this meeting was mailed to stockholders of record, determined as of the close of business on the record date starting on April 24th, 2026. Mr. [Rate] reports that a majority of the voting power of the shares of our capital stock issued and outstanding and entitled to vote as of the record date is present at the meeting, either virtually or by proxy, which constitutes a quorum. Today's meeting is duly convened and open for business. We'll now proceed with the formal business of the meeting.
We've reviewed the questions submitted by stockholders in advance of the meeting and believe that any questions relevant to the proposals have been addressed by the company's proxy statement dated April 24th, 2026, our other filings with the Securities and Exchange Commission, and the Q&A to be presented at the conclusion of this meeting. It is shortly after 10:00 A.M., and the polls are open for stockholders who are voting today. If you have already sent in a proxy or voted via the telephone or internet and do not wish to change your vote, no further action is needed. There are six proposals to be considered and voted upon by our stockholders. Each of these proposals is more fully described in our proxy statement filed with the Securities and Exchange Commission on April 24th, 2026. Proposal Number 1.
The first proposal is to elect seven directors, Alexander Karp, Stephen Cohen, Peter Thiel, Alexander Moore, Alexandra Schiff, Lauren Friedman Stat, and Eric Woersching, to serve a one-year term until our next annual meeting of stockholders and until their successors are duly elected and qualified. No other director nominees have been properly submitted pursuant to our bylaws or the rules of the Securities and Exchange Commission, so no other nominations are being considered. All of the director nominees are currently serving on our board, and our board of directors recommends a vote for all of the director nominees. Proposal Number 2. The second proposal is to ratify the appointment of Ernst & Young as our independent registered public accounting firm for our fiscal year ending December 31st, 2026. Our board of directors recommends a vote for the ratification of the appointment of Ernst & Young. Proposal Number 3.
The third proposal is to approve, on an advisory basis, the named executive officer compensation as described in our proxy statement. Our board of directors recommends a vote for the approval on an advisory basis of the named executive officer compensation as disclosed in our proxy statement. The next three proposals are the stockholder proposals noted in the agenda. Proposal Number 4. The fourth proposal is to consider the stockholder proposal entitled, quote, "Independent report on due diligence process." The Presbyterian Church has submitted a recording by a representative on their behalf to present their stockholder proposal, requesting a third-party due diligence report on customers' use of its defense-related products, technologies, and services. We will play their recorded presentation now.
Fellow shareholders and members of the board, good morning. My name is Simon Dunne, and I'm with Presbyterian Life & Witness, an agency of the General Assembly of the Presbyterian Church U.S.A., a long-term shareholder of Palantir through the Presbyterian Foundation. I hereby move proposal four on behalf of lead filer, Presbyterian Church U.S.A., and co-filers, Portico Benefit Services and Missionary Oblates of Mary Immaculate U.S. Proposal four asks the board to commission an independent third-party report on the due diligence used to determine if our customers' use of Palantir's technology contributes to human rights harms or violations of international law in conflict-affected and high-risk areas. Providing services to militaries with documented records of violating established international law contradicts the company's own human rights policy. Domestically, our infrastructure at DHS and ICE has been linked to enforcement actions that severely impact the fundamental rights of both citizens and non-citizens.
Internationally, while the company has denied responsibility for developing automated targeting systems used by the Israel Defense Forces, reputable investigative reporting continues to connect the company to what the International Criminal Court considers evidence of international crimes, including targeted and systematic strikes against civilians and civilian infrastructure. The alleged use of Palantir technology in AI-enabled targeting platforms exposes the company to allegations of facilitating operations in Iran, Lebanon, and Syria. These strikes have been characterized by high levels of civilian harm and potential violations of international law. Given this evidence of customer involvement in unlawful conduct and human rights violations, our proposal seeks to protect shareholder value. An independent review is essential to ensure all salient and material risks are properly identified and mitigated. We must ensure Palantir's technology is not a tool for international crimes. We urge shareholders to vote for Proposal 4. Thank you.
Thank you. Our board of directors recommends a vote against this proposal for the reasons set forth in our proxy statement beginning on page 26. Proposal Number 5. The fifth proposal is to consider the stockholder proposal entitled, quote, "Human Rights Impact Assessment." The Sisters of St. Joseph of Peace have submitted a recording by a representative on their behalf to present their stockholder proposal, requesting that we publish the results of a human rights impact assessment. We will play their recorded presentation now.
Good afternoon, Palantir board members and shareholders. I am Sister Susan Francois, Assistant Congregation Leader for the Sisters of St. Joseph of Peace. I am here today to move Proposal Five, filed by our congregation and one co-filer, asking the company to conduct and publish a human rights impact assessment examining actual and potential human rights impacts associated with the use of its products and services. Our proposal is supported by a strong business case and a moral imperative. We have been witness to escalating violence and fear both at home and abroad, and in many cases, such harms have been fueled by the misuse of technologies against people. This represents a deterioration of our common humanity. Pope Leo has made it clear in his recent encyclical that decisions about technology must never be separated from conscience and responsibility.
He issued a strong appeal to developers like Palantir, who bear a particular ethical responsibility to embed values in their projects with transparency, responsibility toward affected communities, and careful attention to ensuring that what is being cultivated is a genuine good. An HRIA will help Palantir comply with its international human rights obligations and help mitigate reputational risk. Reports indicate that Palantir's software has been used by U.S. agencies, such as ICE and the Department of Health and Human Services, to violate human rights. Palantir's level of transparency is wholly inadequate. To avoid severe reputational material risk, it behooves the company to provide more disclosure. The HRIA would allow Palantir to transparently identify and address actual and potential adverse human rights impacts. I urge all shareholders to support this proposal. I call on Palantir to ensure its technologies are used in ways that build up, not harm, our common humanity.
Thank you.
Thank you. Our board of directors recommends a vote against this proposal for the reasons set forth in our proxy statement beginning on page 26. Proposal Number 6. The sixth proposal is to consider the stockholder proposal entitled, "Political Spending Disclosure." The New York State Common Retirement Fund has submitted a recording by a representative on their behalf to present their stockholder proposal, requesting the provision of a periodic report disclosing policies and procedures related to political contributions and expenditures. We will play their recorded presentation now.
Sherman Jewett, Corporate Governance Officer, New York State Common Retirement Fund. We urge Palantir Technologies Inc. shareholders to vote for Proposal 6 regarding political spending disclosure. The proposal asks the board of directors to address the significant risks involved with corporate political spending by adopting a policy of greater disclosure. Support for this reasonable, best practice, widely adopted governance reform protects shareholder value and will help mitigate risks by bringing vital transparency and accountability to the company's political spending.
Thank you. Our board of directors recommends a vote against this proposal for the reasons set forth on page 31 of our proxy statement. As previously mentioned, if you have already sent in a proxy or voted via the telephone or internet and do not wish to change your vote, no further action is needed. For everyone else, we will leave the polls open for another minute to allow anyone who chooses to vote electronically to cast their ballots so your vote can be counted by the Inspector of Election. Over a minute has passed and the polls are now closed. No additional ballots, proxies, or votes, and no changes or revocations will be accepted.
Based on the preliminary voting results as reported by the Inspector of Election, the stockholders have elected the seven nominated directors to serve until our next annual meeting of stockholders, until their successors are duly elected and qualified, ratified the appointment of Ernst & Young as our independent registered public accounting firm for our fiscal year ending December 31st, 2026, approved on an advisory basis the named executive officer compensation, voted against the stockholder proposal entitled, "Independent report on due diligence process," voted against the stockholder proposal entitled, "Human rights impact assessment," and voted against the stockholder proposal entitled, "Political spending disclosure." The final voting results will be set forth in a report of the Inspector of Election and will be included with the minutes of this meeting.
We will also report the final voting results on a Form 8-K, which we will file with the Securities and Exchange Commission within four business days of today's date. This concludes our planned agenda today. As there is no other formal business before us, this annual meeting is adjourned. I'll now turn it over to Kerry Lee from our finance team to oversee a separate Q&A session.
Thank you, Ryan. Today, we'll be focusing our Q&A with Ryan on questions related to our Artificial Intelligence Platform. We look forward to engaging with stockholders on other topics in future earnings calls and via investor outreach events. Before we begin, I would like to note that our responses to your questions today may include forward-looking statements. Actual results could differ materially from those contemplated by our forward-looking statements. Reported results should not be considered as an indication of future performance. Please take a look at our filings with the Securities and Exchange Commission for a discussion of the factors that could cause our results to differ materially from those contained in our projections or forward-looking statements. Note that any forward-looking statements are based on information available to us as of today's date, and we disclaim any obligation to update any forward-looking statements except as required by law.
The first question is: How is Palantir differentiated from the model lab companies and other software companies focused on AI?
We've said before that Palantir is an N of 1. The rapid advancement of AI models is continuing to drive the commoditization of cognition, but we remain the only enterprise software company that's focused exclusively on scaling the leverage made possible by model advancements. We spend our energy delivering real-world value for our customers by leveraging those models in production, capitalizing on the rich context within their enterprise through the ontology. We remain differentiated in our elite execution, delivering quantified exceptionalism for our customers. AIP is the only platform that establishes a true AI no-slop zone, a requirement for converting potential AI leverage into compounding real-world value. We're doing this in production for real enterprises at scale.
Thank you, Ryan. The next question is: In light of the advancements in AI models, how have Palantir customer conversations evolved?
The conversation with our customers has fundamentally changed. A year ago, they were asking how AI could work in their environment. Today, they're reimagining entire industries, asking how fast and how deep they can deploy AIP in their enterprise. I feel the ambition in the room when I talk with our customers. They're not stopping with one use case. They're coming to us with a vision for their entire enterprise, and they want to move immediately. For example, we're working with a mortgage company to revamp the end-to-end mortgage process with AIP. Their chairman stated our partnership will reshape the future of the mortgage industry. New customers are starting with substantial initial deals, and existing customers are expanding quickly. An engineering services company saw a series of demos in the fall, then signed a large deal before year-end.
An energy company expanded their contract size fivefold over the course of last year, driven by value generated from new use cases. Palantir is uniquely delivering must-win operational outcomes to load-bearing institutions. The advancement of AI models has made this even more urgent. As models improve and the leverage they can provide becomes more apparent, the organizations that have AIP to deploy them within their ontology are pulling away from those that do not.
Ryan, this concludes our Q&A. Thank you for joining us today.
This concludes today's meeting. We thank you for joining. You may now disconnect.