Hello, and welcome to Reservoir Media, Inc's 2026 Annual Meeting of Stockholders. At this time, all participants are in a listen-only mode. I will now turn the call over to Ezra Field, Chair of the Board of Directors of the company. Mr. Field, you may now begin.
Good morning, stockholders. I'm Ezra Field, Chair of the Board of Directors of Reservoir Media, Inc, and I will be presiding at this meeting. On behalf of the board and the company's management team, I'm pleased to welcome all of you to our 2026 virtual annual meeting of stockholders. It is 12:00 P.M. Eastern Time, and in accordance with the bylaws of the company, I call to order this annual meeting of stockholders. Before proceeding to the business of the meeting, I would like to introduce members of management and the Directors who are in attendance today. For management, we have Golnar Khosrowshahi, Chief Executive Officer and Director, Rell Lafargue, President, Chief Operating Officer, and Director, Jim Heindlmeyer, Chief Financial Officer, Jeff McGrath, Executive Vice President, General Counsel, and Corporate Secretary, Harley Traven, Senior Director of Legal and Assistant Corporate Secretary, and Suzanne Arrabito, Vice President of Marketing and Communications.
In addition to Golnar and Rell, other Board Directors in attendance today include Stephen Cook, Chair of our Nominating and Corporate Governance Committee. Helima Croft. Neil de Gelder, Chair of our Audit Committee. Jennifer Koss, Adam Rothstein, and Ryan Taylor. Also present today is Jackie Marcus, Managing Director of Alpha IR Group, the company's investor relations firm. Kevin Bernardo, Partner of Deloitte & Touche LLP, which firm served as the company's independent registered public accounting firm for the fiscal year ended March 31, 2026. Mr. McGrath will serve as secretary of the meeting. Richard Leza Jr., representing Broadridge Financial Solutions, has been appointed to serve as inspector of elections in accordance with the company's bylaws. I ask that his oath of office be filed with the secretary for inclusion in the minutes of this meeting.
Each of you should have entered the meeting with your control number or dialed in as a guest. We have posted the agenda and rules of conduct in the virtual annual meeting site. It is our intention to conduct this meeting in accordance with such agenda and rules. You will note that in the agenda, an opportunity will be provided for questions and discussion following the meeting. Stockholders may submit questions at any time during this meeting in the space provided on the virtual meeting screen. As stated in the rules of conduct, we ask that you keep any such questions relevant to the items on the agenda. Thank you for your cooperation with these rules. Mr. McGrath will now report on the mailing of the notice of this meeting, the presence of a quorum, and the proposals to be considered at this meeting.
Thank you, Ezra. This meeting is held pursuant to a printed notice mailed on or about June 26, 2026, to each stockholder of record as of the record date of June 12th, 2026, who is entitled to vote. A list of stockholders entitled to vote at this meeting has been available for the past 10 days by contacting the company's investor relations department or Corporate Secretary. All documents concerning the call and notice of this meeting will be filed with the records of the company. There are 65,814,328 shares of common stock issued and outstanding and entitled to vote at this meeting. Holders of common stock are entitled to one vote per share.
We were informed by the inspector of election that there are represented at this meeting, either in person or by proxy, 63,145,087 shares of common stock, or approximately 95.94% of all of the common stock entitled to vote at this meeting. I certify that as required by the company's bylaws, the holders of a sufficient number of common stock are present in person or by proxy, and that a quorum is therefore present and sufficient for transacting the business of this meeting.
The items to be considered at this meeting are the items set forth in detail in the notice of the 2026 annual meeting of stockholders and proxy statement of the company, each dated June 26, 2026, and mailed or made available to stockholders of the company. The first matter of business is the election of three Class II Directors of the company, each to serve a term of three years, expiring at the annual meeting of stockholders to be held in 2029, and until his or her successor is elected and qualified. The nominees are Todd Harvey, Jennifer Koss, and Adam Rothstein, named and described on page two of the company's proxy statement. The second matter of business is the ratification of the board's selection of Deloitte & Touche LLP as the company's independent registered public accounting firm for the current fiscal year ending on March 31st, 2027.
The third matter of business is the approval on an advisory basis of the compensation of our named executive officers as disclosed in the proxy statement. Finally, the fourth matter of business is the approval on an advisory basis of the frequency of future advisory votes to approve the compensation of our named executive officers.
Thank you, Jeff. As a reminder, if there are any questions, they may be submitted via the online portal. We will now proceed to the balloting. The polls are now open. If you have signed and returned a proxy, your shares will be voted in accordance with your instructions. I would like to point out that most of you who returned proxies authorized the persons named in the proxy to vote on all proposals coming before the meeting. If you would like to vote at this time, please follow the instructions on the website. If you have already voted by proxy, it is not necessary to vote now unless you wish to change your vote. If any stockholders have not yet voted online, I suggest that they do so now. The polls are now closed.
The inspector of election has confirmed that the tally is complete, pending online votes, which will be certified tomorrow. I now ask the secretary to report the preliminary results of the voting.
The holders of a majority of shares of common stock present in person or by proxy have voted in favor of the election of Todd Harvey, Jennifer Koss, and Adam Rothstein as Class II Directors. The holders of a majority of shares of common stock present in person or by proxy have voted to ratify the selection of Deloitte & Touche LLP as the company's independent auditors for the current fiscal year ending on March 31st, 2027. The holders of a majority of shares of common stock present in person or by proxy have voted to approve, on an advisory basis, the compensation paid to our named executive officers. Finally, with respect to the advisory vote on the frequency of future advisory votes on executive compensation, the option of one year has received the highest number of votes.
Thank you, Jeff. I hereby declare, based on preliminary results, that all of the nominees for appointment as a Class II Director have been duly elected. The appointment of Deloitte & Touche LLP to audit the financial statements of the company and its subsidiaries for the current fiscal year ending on March 31, 2027, has been duly ratified. The compensation of our named executive officers, as disclosed in the proxy statement, has been approved. The stockholders have advised in favor of holding future advisory votes on executive compensation on an annual basis. We will report the final vote results on a Form 8-K to be filed with the SEC within four business days of today's meeting. There being no further business, the formal portion of our meeting has concluded.
I would now like to ask our CEO, Golnar Khosrowshahi, to make a few remarks about the company, after which we will have a brief question- and- answer period.
Thank you, Ezra. Fiscal 2026 marked another year with standout financial strength and resilience of Reservoir's business. We delivered 11% revenue growth, including 6% organic and 12% adjusted EBITDA growth, demonstrating both the sustained demand for the music that we steward and our disciplined approach to capital deployment. During fiscal 2026, we invested approximately $120 million in catalogs, advances, and strategic partnerships that further diversified our portfolio across our business. We expanded relationships with legendary creators and partners across business verticals while also investing in the next generation of talent. One of the defining moments of the year was the acquisition of the Miles Davis catalog. Since announcing the acquisition last September, we have worked closely with his estate to develop a global centennial celebration honoring what would have been Miles' 100th birthday.
Through new music releases, live performances, exhibitions, educational initiatives, media placements, a robust social media campaign, and collaborations with brands across industries, we have celebrated Miles' legacy with longtime fans while introducing him to new audiences. Our goal extends beyond celebrating this year's anniversary to ensuring that one of the most influential artists in modern music continues to inspire future generations for the next 100 years. International expansion into high-growth markets remains one of Reservoir's most important long-term priorities. In the MENA region, PopArabia expanded its creative services catalog and distribution capabilities through the acquisition of Viral Wave with additional regional investments. In India, we established Pop India, our seventh global office, to position Reservoir at the forefront of one of the world's fastest-growing music markets. Building on this success, we recently accelerated our efforts in the Latin American music market.
Following the close of fiscal 2026, we announced two strategic partnerships in Latin music with independent label Nacional Records and with TU Publishing, strengthening our presence in another of the fastest-growing and most culturally influential sectors of the global music business. These investments reflect our strategy of establishing local expertise in markets experiencing rapid growth and position Reservoir well to participate in the continued globalization of music. In addition to these new deals and partnerships, the quality of our catalog and the expertise of our team continue to drive successful value enhancement, with synchronization revenue growing both across music publishing and recorded music. We secured four Super Bowl synchronization placements in major films and TV series and ads campaigns with global brands. These successes are a testament to the enduring value of our portfolio and our ability to consistently unlock new opportunities for our creators.
In March 2026, our board received two non-binding and unsolicited stockholder proposals to purchase the company. The board thereafter formed a special committee of Independent Directors to evaluate the proposals and determine whether further action, including potential definitive agreements, was warranted. The committee has retained independent advisors to assist in its mandate. There can be no assurance that any definitive agreement will result from either of the proposals. Reservoir does not intend to comment on the proposals unless and until it determines further disclosure is appropriate.
Regardless of the outcome, we remain focused on executing our operational plan and delivering shareholder value. Thank you for your continued trust and support. With a diversified business, a global platform, exceptional staff and creative partners, and a disciplined approach to growth, Reservoir has never been better positioned to succeed. We remain confident in our fiscal 2027 guidance and look forward to another strong year.
Thank you, Golnar. We have now come to that part of the agenda providing for general questions and discussion. If you have not already done so, anyone wishing to address the meeting should enter their questions online.
We have not received any questions that are related to the business at hand. I'll turn the meeting back over to you, Ezra.
Thank you, Jackie. There being no questions, this annual meeting is officially adjourned.
This concludes today's meeting. Thank you for joining. You may now disconnect.