Okay, good afternoon. I am Balu Balakrishnan, and I am the President, Chief Executive Officer, and a member of the Board of Directors of Power Integrations Inc. I will be acting as chairman of this meeting. I'm happy to welcome you to the Power Integrations Incorporated 2022 Annual Meeting of Stockholders. Before I call the meeting to order, I would like to introduce you to the members of the board and the business team who are with us today. The other members of the board with us today are Wendy A. Arienzo, Balakrishnan S. Iyer, Anita Ganti, William L. George, Jennifer Lloyd. I think that's about it. Okay. Also present today is Sandeep Nayyar, Vice President and CFO. David Segre of Cooley LLP, the company's outside legal counsel, will be acting as Secretary of this meeting.
I would also like to introduce Manya Santella of Deloitte & Touche LLP, the company's independent registered public accounting firm, who is available to respond to appropriate questions. The meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in your notice of annual meeting and proxy statement. After the formal part of the meeting, we will give you an opportunity to ask any questions you may have. Will the Secretary please report at this time with respect to the mailing of the notice of the meeting and the stockholders' records.
Yes. Thanks, Balu. I have for this meeting a complete list of the stockholders of record of the company's common stock on March 24, 2022, the record date of this meeting. I also have an affidavit certifying that on April 7, 2022, a notice of Internet availability of proxy materials was deposited in the United States mail to all stockholders of record as of the close of business on March 24, 2022.
At this time, I'd like to introduce Joe Shiffler, Power Integrations Director of Investor Relations. I'm appointing Mr. Shiffler to act as Inspector of Election at this meeting. Mr. Shiffler has taken and subscribed the customary oath of office to execute his duties with strict impartiality, which will be filed with the records of the meeting. His function is to decide upon the qualifications of voters, accept their votes, and when the balloting on all matters is completed, to tally the final votes. Will the Secretary please report at this time with respect to the existence of a quorum.
Yes. I have been informed by the Inspector of Election that proxies have been received for a sufficient number of shares so that we have a quorum present in the meeting. We may now carry out the official business of the meeting. Any additional ballots may be submitted to the Inspector of Election electronically by email to ir@power.com and must be received by the close of the meeting.
We will now proceed with the formal business of the meeting. There are three proposals to be considered by the stockholders at this meeting. The time now is 8:08 Pacific Time on Friday, May 20th, 2022. The polls are now open for voting on all matters to be presented. The polls will be closed to voting after we go through the matters to be voted on. The first item of business today is the election of eight directors to serve until the 2023 annual meeting of stockholders and until their successors are elected and qualified.
The nominees for directors of the company are Wendy Arienzo, Nicholas Brathwaite, Balakrishnan Iyer, Anita Ganti, William George, Jennifer Lloyd, Rajat Nayyar, and Balu Balakrishnan. Is there any discussion? If so, please indicate in the Webex Q&A box that you would like to discuss the proposal. [audio distortion] do you see any today?
I do not see any.
Okay. I'll give it another minute or so. Okay. I don't see anything on Q&A, so we'll go to the next item. The second item of business today is advisory vote on the compensation of the company's named executive officers as described in the proxy statement. The stockholders have been asked to vote on an advisory basis on the following resolution. Quote, resolved that the compensation paid to Power Integrations named executive officers, as disclosed in the proxy statement, pursuant to Item 402 of Regulation S-K, including the compensation discussion and analysis, compensation tables, and benefit discussion is hereby approved. End quote. Is there any discussion? If so, please indicate in the Webex Q&A box that you would like to discuss the proposal. David, do you see anything?
No, I don't see anything on the Q&A. [audio distortion]
I'll give it to the other director, though. The third and final item of business today is the ratification of the selection by the Audit Committee of the Board of Directors of Deloitte & Touche LLP as the independent auditors of the company for the fiscal period ending December 31st, 2022. Is there any discussion? If so, please indicate in the Webex Q&A box that you would like to discuss the proposal. Do you see anything? I don't see anything so far.
No, nothing.
That was the final proposal for today's meeting. The secretary will now describe the voting procedures.
Voting is by proxy and written ballot. Each share of current stock is entitled to one vote. This is the last call for them to submit the ballot electronically by email to the Inspector of Elections at ir@power.com. As the polls are now closed. Will the Inspector of Elections please let us know if any additional ballots have been submitted. None. Thank you. The time is now 8:12, and the polls are now closed for voting.
May we have the results of the voting?
The report of the Inspector of Elections on the proposals presented at this meeting reflects that all nominees for director have been elected and that proposals two and three have also passed. We will publish the tally of the results of the voting in our current report on Form 8-K, which will be filed shortly with the Securities and Exchange Commission.
After the conclusion of this meeting, we will entertain questions from stockholders. Is there any opposition to concluding the meeting? The meeting is concluded. Joe, can we take it back to Q&A?
Yes. We will now have an informal Q&A session. There are two options for asking a question. One is to type your question in the Q&A box on the lower right-hand portion of the screen. Clicking the arrow next to the letters Q&A will reveal the Q&A interface. Or if you prefer to ask a question out loud, please indicate so in the Q&A box. We'll unmute your line so that you can ask your question. I'll turn it back over to Balan.
I noticed that Steve Sharp has joined, and let me say a couple of words about Steve. He's attending his final annual meeting as a director of the company. Steve is the founder of Power Integrations and has served on our board since day one, including his stint as our chairman. We are incredibly grateful for his long service to our company, and we wish him well as he retires from the board. Thank you, Steve.
Thank you. Thank you. I'm still a stockholder. Enjoyed watching you all do such wonderful things, so keep it up.
Thanks, Steve. Thanks for joining. Any questions? I don't see any questions. I don't see any on the chat or the Q&A. Well, thank you everyone for joining today's meeting. I will conclude the meeting on formal terms as well.
All right. Thank you everyone.
Thanks, everybody.
There's not gonna be any presentation?
No, because there were no questions. If there were questions, we have slides ready, but there were no questions, so we are gonna-
Okay.
Okay. Thanks, Steve.
Thank you. Thank you. Good job, guys.
Bye-bye.
Bye-bye.