Good morning. I'd like to welcome all of you who are joining today. I'm Drew Wilkerson, Chairman of the Board and Chief Executive Officer of RXO. Thank you for attending our 2026 annual meeting of stockholders. We appreciate you making the effort to join us. Before we get the meeting underway, I wanna acknowledge our board members who are with us today, Christie Breves, Troy Cooper, Adrian Kingshott, Mary Kissel, Michelle Nettles, Steve Renna, and Tom Szlosek. Information about each of our directors is provided in our proxy statement and is available on our website. Also joining us are Jamie Harris, our Chief Financial Officer, and Jeff Firestone, our Chief Legal and Compliance Officer, who will serve as secretary of the meeting. We'll start with some comments from Jeff on the rules for today's meeting.
Thank you, Drew. We have a lot to cover today, and we want to be respectful of everyone's time. RXO's annual meeting is an opportunity to share your views directly with our management team and board. We believe that open dialogue serves all of our stockholders, and we want to ensure that today's discussions are courteous and productive. The agenda for this meeting and a list of the rules of conduct and procedures are posted on the meeting website. Please review and abide by these rules to ensure an orderly meeting. Before we move to our proposals, I'd like to ask Drew to offer some remarks.
Thank you, Jeff, and good morning, everyone. Twenty twenty-five was a transformative year for RXO and marked the first full year of combined results following the Coyote Logistics acquisition. I'm proud that RXO is now the third-largest brokered freight transportation provider in North America. We expanded our scale, diversified our market segments, and broadened our customer and carrier networks. We also aggressively optimized our cost structure. We've taken decisive actions to achieve over $155 million in annualized expense savings. This includes more than $65 million in post-spin costs, $60 million in acquisition synergies, and $30 million cost savings initiative announced late last year. We're automating key processes and operating more efficiently than ever. While 2025 freight market remains soft, RXO is exceptionally well positioned. We are focused on returning to growth and outperforming the market by leveraging our unmatched scale, unified tech platform, and differentiated customer service.
In fact, we exited the year with tremendous momentum. First, our Q4 late-stage broker sales pipeline increased by more than 50% year-over-year. Second, Managed Transportation secured over $350 million in new freight under management, ending the year with $1.4 billion sales pipeline. Finally, our Last Mile stops grew by 13% year-over-year. Top retailers of big and bulky goods continue to trust us because of our network density, proprietary technology, and financial stability. We have built a resilient, agile, and industry-leading company. Thank you for your continued trust and investment in RXO.
Thanks, Drew. I hereby declare that this meeting is duly convened for purposes of transacting the business that properly come before it. I confirm that our transfer agent has delivered an affidavit of mailing that establishes a notice of this meeting was duly given. A copy of the notice of meeting and the affidavit of mailing will be incorporated into the minutes of the meeting. All stockholders of record at the close of business on March 16th, 2026 are entitled to vote at this meeting. I also would like to acknowledge the presence of Beth VanDerBeck , representing Broadridge. Ms. VanDerBeck is acting as independent inspector of elections at this meeting and has informed me that a quorum is present. Thank you for returning your proxies. Next, I'll introduce the four company proposals included in the proxy statement.
Once all proposals have been introduced, you'll have the opportunity to vote on them during a general question and answer session that follows. At the end of the session, we'll declare the voting closed and count the votes on each proposal. After that, we will announce the voting results and close the meeting. Let's turn to the Company proposals. First is a proposal regarding the election of directors. This year, our stockholders will elect eight members of the Board of Directors, each for a one-year term to serve until the 2027 annual meeting of stockholders, or until he or she resigns, or until a successor has been duly elected and qualified. Each of the nominees, Drew Wilkerson, Christie Breves, Troy Cooper, Adrian Kingshott, Mary Kissel, Michelle Nettles, Steve Renna, and Tom Szlosek, is currently a Director of the Company.
Additional information about each nominee is included in the proxy statement. The Company has not received timely notice of any other nominations as required under our bylaws. Therefore, I declare the nominations closed. The second proposal is to ratify the action of the Board's Audit Committee in appointing Deloitte & Touche LLP as independent auditor of the Company for the fiscal year 2026. Representative of Deloitte is present at the meeting. The third proposal is to approve an amendment to the RXO 2022 Omnibus Incentive Compensation Plan to increase the number of available shares thereunder, as described in the proxy statement. The fourth proposal is to approve, on an advisory basis, a resolution on the compensation of the Company's named executive officers, as described in the proxy statement.
I will now ask Drew to make a motion to approve proposals one through four as presented in the proxy statement.
I move that the eight nominees be elected as directors of RXO Incorporated, and that proposals two and three and four be approved as provided in the proxy statement.
Thank you, Drew. We will now hold a vote on each of the four proposals. You may vote today only if you did not already submit a proxy by mail, telephone, or over the internet and wish to vote during this meeting, or you did submit a proxy but want to change your vote. Those wishing to vote during this meeting, please submit your votes now. Remember, you do not need to vote at this time if you already voted and you are not changing the way you voted. Preliminary voting results will be available by the end of today's Q&A session. Now time to conduct a general Q&A session. Members of RXO management will answer any questions that have been submitted through the meeting website and that adhere to the rules of the meeting.
We will combine questions that address the same similar, or similar subjects as our time is limited. There are no questions. The question- and- answer period, therefore, is closed. I have the results of the vote. The vote totals are preliminary because the vote is subject to final audit by the Inspector of Election, but that will not affect the outcome of any matter. The Inspector's preliminary results show that each of the eight nominees for election of Director of the Company have been elected by more than the majority of the votes cast. The appointment of Deloitte & Touche has been ratified by more than the majority of the shares of the common stock present or represented by proxy and entitled to vote.
The amendment to the Company's 2022 Omnibus Incentive Compensation Plan has been approved by more than the majority of the shares of common stock present or represented by proxy and entitled to vote. The advisory resolution on executive compensation has been approved by more than the majority of the shares of common stock present or represented by proxy and entitled to vote. This completes the formal business of the meeting. I'd like to express my sincere appreciation to all of the RXO stockholders who voted and to those of you who've taken the time to attend our meeting today. May I please have a motion to adjourn the meeting?
I move that the 2026 annual meeting of stockholders of RXO Incorporated be adjourned.
We are now adjourned. Thank you and have a nice day.
This concludes today's meeting. You may now disconnect.