Good afternoon. I'm Joe Russell, President and CEO of Public Storage. I would like to welcome you to the 2021 Annual Meeting of Shareholders of Public Storage and call the meeting to order. The company's Corporate Secretary, Nathan Vitan, will now report on certain matters.
Please refer to the meeting agenda posted on the meeting site, which outlines the order of business for today's meeting. We will first conduct the formal business of the meeting by voting on the proposals described in our proxy materials, and then we will take questions. Shareholders may submit questions related to the business of the meeting through the virtual meeting platform. As a reminder, we are holding our Investor Day on May 3rd, 2021, and we will address any questions about our business and strategy as part of that presentation. In addition, we are scheduled to release our first quarter 2021 results after market close on Wednesday, April 28, and we're also holding our first quarter earnings call on Thursday, April 29. Please note that we have also posted the rules of conduct for the meeting on the site.
In addition to our President and CEO, Joe Russell, we're joined today by Ryan Burke, Vice President of Investor Relations, and members of our Board of Trustees. We're also joined by a representative from our independent registered public accounting firm, Ernst & Young LLP. I've executed an affidavit showing that notice of this meeting was duly given to shareholders on or about March 16, 2021, along with a proxy statement, annual report for the year ending December 31st, 2020, and proxy card. The affidavit, together with copies of the notice of meeting, proxy statement, annual report, and proxy card, will be filed with the minutes of the meeting. Any shareholder present who has not voted by proxy or otherwise, who wishes to vote virtually, can vote via the website used to access this meeting.
There is no need to vote virtually if you have voted by proxy and do not wish to change your vote. The polls will close shortly, so for anyone who has not voted or submitted a proxy, please vote now. I've confirmed that a majority of the outstanding shares entitled to vote on all five matters to be considered at this meeting is present in person or by proxy, and that we therefore have a quorum. We will now proceed to the proposals on the ballot. The notice of this meeting and the proxy statement set forth five items of business to be voted on. The Board of Trustees recommends the approval of each of these items.
The five items are: one, the election of 14 trustee nominees set forth in the proxy statement to serve one-year terms, expiring at the 2022 Annual Meeting of Shareholders. Two, an advisory vote to approve the compensation of our named executive officers. Three, ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for 2021. Four, approval of our 2021 equity and performance-based incentive compensation plan. And five, approval of an amendment to our declaration of trust to eliminate cumulative voting. We would like to conclude the voting on proposals one through five. Those of you who are voting electronically during the meeting, please conclude any voting on the virtual meeting platform at this time. It is now 1:03 P.M., and I declare the polls closed with respect to proposals one through five. No further ballots or proxies will be accepted at this time.
The ballots have now been tabulated, and I am happy to announce that proposals one through five have been approved. A report containing the final vote totals will be filed with the minutes of this meeting in the company's minute book. With no other business to be considered, the formal portion of this meeting is concluded, and we will now take questions that have been submitted to the portal. There appear to be no questions at this time. The meeting has now come to an end. Thank you for attending.