Welcome to the annual meeting for Revvity Inc. Our host for today's call is Joel Goldberg, Revvity's General Counsel and Secretary. I will now turn the call over to your host. Mr. Goldberg, you may begin.
Thank you very much. Good morning, everyone. I am Joel Goldberg, Revvity's General Counsel and Secretary. Thank you for attending Revvity's 2026 Annual Meeting of Shareholders, which we are holding on a virtual basis. We appreciate your taking the time to log in this morning. I would now like to introduce the President and Chief Executive Officer of Revvity, Prahlad Singh.
Good morning. Welcome to our 2026 annual meeting of shareholders, which as Joel mentioned, is being conducted by a live audio webcast. Before proceeding to the formal business of this meeting, I would like to briefly describe the qualifications of the members of our Board of Directors in addition to myself, who are standing for reelection. Peter Barrett. Peter is a partner in the life sciences group at Atlas Venture, an early-stage life sciences venture capital fund, and was first elected to serve on our board in 2012. Samuel Chapin. Sam is the retired Executive Vice Chairman of Bank of America Merrill Lynch and joined our board in 2016. Michael Klobuchar. Mike is the Chief Operating Officer of Eikon Therapeutics Inc. and joined our board in 2024. Michelle McMurry-Heath.
Michelle is the Founder and Chief Executive Officer of BioTechquity Clinical and joined our board in 2022. Alexis Michas. Alexis is the founder and Managing Partner of Juniper Investment Company, LLC, an investment management firm, has been a member of our board since 2001, and currently serves as our Non-Executive Chairman. Sophie Vandebroek. Sophie is the former Vice President for Emerging Technology Partnerships at IBM and joined our board in 2024. Michel Vounatsos. Michel is the former Chief Executive Officer of Biogen and has served on our board since 2020. Frank Witney. Frank is the former Chief Executive Officer of Affymetrix and joined our board in 2016. Pascale Witz. Pascale is the Founder and President of PWH Advisors and joined our board in 2017.
I would also like to note that joining us this morning is Erika Ordway, a partner at Deloitte & Touche LLP. Erika is available to answer any questions you may have regarding her firm's function as the company's auditors. Thank you, ladies and gentlemen. Now to the formal business of our meeting. This is the 2026 annual meeting of the shareholders of Revvity, Inc. The annual meeting is held on the 4th Tuesday in April of each year, and the Board of Directors has fixed the close of business on March 2nd, 2026, as the record date for determining shareholders entitled to vote at this meeting. If any shareholder has not voted and would like to do so or has voted and would now like to change their vote, please follow the instructions on the web portal.
Thank you for attending and for taking the time to vote your shares. In order to conduct this meeting, we are required to have a quorum. Mr. Goldberg, do we have a quorum?
Yes, Mr. Chairman. Holders of approximately 104 million shares or 93% of the common stock of the company entitled to vote are present or are represented by proxy at the meeting and constitute a quorum. I would also like to present, as part of the formal records of this meeting, the minutes from the 2025 annual meeting of shareholders.
The first proposal to be voted on at this meeting, as set forth in our proxy statement, is to elect 10 directors to the Board of Directors, each for a term of one year. Mr. Goldberg, do you have a formal proposal relating to the election of the directors?
Yes, Mr. Chairman. I move that Peter Barrett, Samuel R. Chapin, Michael A. Klobuchar, Michelle McMurry-Heath, Alexis P. Michas, Prahlad R. Singh, Sophie V. Vandebroek, Michel Vounatsos, Frank Witney, and Pascale Witz, each be elected a director of Revvity, Inc. for a term of one year, that term to expire at the annual meeting of this company in 2027.
Do I hear a second?
Second.
Are there any further nominations? I hear none. Nominations are now closed. The nominees are as identified by Mr. Goldberg. Unless there are any questions or comments relating to this proposal, we shall proceed. If anyone wishes to submit a vote on this proposal for the first time or change a vote previously submitted, please follow the instructions on the web portal. Voting is now closed, and the proxies are voted as authorized. Mr. Goldberg, do you have preliminary results?
Yes, Mr. Chairman. Based upon votes submitted as of the start of this annual meeting, the proposal to elect the 10 nominees to the Board of Directors for terms of one year each has been passed. Each nominee has received the affirmative vote of at least 91% of the votes cast. Exact votes will be reflected in the official minutes of this meeting.
The second proposal to be voted on at this meeting, as set forth in our proxy statement, is to ratify the Audit Committee's selection of Deloitte & Touche LLP as our independent auditors for the current fiscal year. Mr. Goldberg, do you have a formal proposal relating to the ratification of the selection of auditors?
Yes, Mr. Chairman. I move to ratify the selection of Deloitte & Touche LLP as Revvity's independent registered public accounting firm for the current fiscal year.
Do I hear a second?
Second.
Unless there are any questions or comments relating to this proposal, we shall proceed. If anyone wishes to submit a vote on this proposal for the first time or change a vote previously submitted, please follow the instructions on the web portal. Voting is now closed, and the proxies are voted as authorized. Mr. Goldberg, do you have preliminary results?
Yes, Mr. Chairman. Based upon votes submitted as of the start of this annual meeting, the proposal to ratify the selection of Deloitte & Touche LLP as Revvity's independent registered public accounting firm for the current fiscal year has been passed with an affirmative vote of approximately 99% of the votes cast. Exact votes will be reflected in the official minutes of this meeting.
The third proposal to be voted on at this meeting, as set forth in our proxy statement, is to approve by non-binding vote Revvity's executive compensation. Mr. Goldberg, do you have a formal proposal relating to the approval of Revvity's executive compensation?
Yes, Mr. Chairman. I move that the compensation paid to the company's named executive officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the compensation discussion and analysis, the compensation tables, and any related material disclosed in our proxy statement, is hereby approved.
Do I hear a second?
Second.
Unless there are any questions or comments relating to this proposal, we shall proceed. If anyone wishes to submit a vote on this proposal for the first time or change a vote previously submitted, please follow the instructions on the web portal. Voting is now closed, and the proxies are voted as authorized. Mr. Goldberg, do you have preliminary results?
Yes, Mr. Chairman. Based upon votes submitted as of the start of this annual meeting, the proposal to approve by non-binding vote Revvity's executive compensation has been passed with an affirmative vote of approximately 96% of the votes cast. Exact votes will be reflected in the official minutes in this meeting.
The fourth proposal to be voted on at this meeting, as set forth in our proxy statement, is a management proposal to amend our bylaws to allow shareholders owning 25% of our stock to call a special meeting of shareholders. Mr. Goldberg, do you have a formal proposal relating to the adoption of these amendments?
Yes, Mr. Chairman. I move to amend our amended and restated bylaws to allow shareholders owning 25% of our stock to call a special meeting of shareholders.
Do I hear a second?
Second.
Unless there are any questions or comments relating to this proposal, we shall proceed. If anyone wishes to submit a vote on this proposal for the first time or change a vote previously submitted, please follow the instructions on the web portal. Voting is now closed, and the proxies are voted as authorized. Mr. Goldberg, do you have preliminary results?
Yes, Mr. Chairman. Based upon votes submitted as of the start of this annual meeting, the proposal to amend our amended and restated bylaws to allow shareholders owning 25% of our stock to call a special meeting of shareholders has been passed with an affirmative vote of approximately 99% of the votes cast. Exact votes will be reflected in the official minutes of this meeting.
The fifth proposal to be voted on at this meeting, as set forth in our proxy statement, is a shareholder proposal regarding executive stock ownership. We would now invite the proponent of the shareholder proposal, Mr. John Chevedden, to present that proposal. Operator, can you please open Mr. Chevedden's phone line?
Mr. Chevedden, your line is open.
Hello, this is John Chevedden. Proposal five, executives to retain significant stock. Shareholders ask the Board of Directors to adopt a policy requiring the five named executive officers to retain a significant percentage of stock acquired through equity pay programs until reaching retirement and to report to shareholders regarding the policy at our company's next annual meeting proxy. Shareholders recommend a share retention percentage requirement of 25% of net after-tax shares. This single unified policy shall prohibit hedging transactions for shares subject to this policy, which are not sales, but reduce the risk of loss to the executive. Otherwise, named executive officers might be able to avoid the impact of this proposal.
This policy shall supplement any other share ownership requirements that have been established for senior executives and should be implemented without violating current company contractual obligations or the terms of any current pay or benefit plan. The board is encouraged to obtain waivers of any current pay or benefit plan for senior executives that might delay implementation of this proposal. Requiring senior executives to hold a significant portion of stock obtained through executive pay plans would focus our executives on our company's long-term success. A conference board task force report stated that hold to retirement requirements give executives an ever-growing incentive to focus on long-term stock performance. Now could be a good time to make sure executives retain significant stock, since Revvity stock was at $203 in 2021 and is at only $86 now despite a robust stock market.
Please vote yes, executives to retain significant stock, proposal five.
Thank you, Mr. Chevedden. I would remind our shareholders that the response of the company to the shareholder proposal is set forth in the proxy statement. Unless there are any questions or comments relating to this proposal, we shall proceed. If anyone wishes to submit a vote on this proposal for the first time or change a vote previously submitted, please follow the instructions on the web portal. Voting is now closed, the proxies are voted as authorized. Mr. Goldberg, do you have preliminary results?
Yes, Mr. Chairman. Based upon votes submitted as of the start of this annual meeting, the shareholder proposal regarding executive stock ownership has failed, with approximately 77% of the votes cast having been voted against the proposal. Exact votes will be reflected in the official meeting minutes of this meeting.
Thank you. That takes care of the formal business of today's meeting. Before I move on to answer any additional questions, I hereby declare that the 2026 annual meeting of shareholders is adjourned. If there are no further questions, the meeting is concluded. Thank you for attending our 2026 annual meeting of shareholders and for your continued support of Revvity.
This concludes today's meeting. Thank you for attending. You may now disconnect and have a wonderful rest of your day.