Good afternoon, everyone. I'm Alan Boeckmann, Chairman of the Board of NuScale Power Corporation. Thank you for joining us today. On behalf of our Board of Directors, welcome to the 2026 Annual Meeting of Stockholders. I'll act as Chairman for this meeting, and Bill Cooper, Chief Legal Officer and Corporate Secretary of the company, will act as meeting Secretary. As you may have noticed when you logged in, the polls for voting are now opened. I will call for a final vote on the matters before us in a few minutes. At the end of the meeting, we will consider questions from stockholders. First, I want to make introductions of the members of our board, our two Director nominees, and the management team. First is John L. Hopkins, Director and Chief Executive Officer. Bum-Jin Chung, Director. Shinji Fujino, Director.
Kent Kresa, Director. Diana J. Walters, Director. Kimberly O. Warnica, D irector. I will gladly introduce our two Director nominees. The first is Dale Klein and the second is Stuart Harshaw . From our management team, executive team, first is José Reyes, our Chief Technology Officer. Ramsey Hamady, Chief Financial Officer. Carl Fisher, Chief Operating Officer, and Clayton Scott, Chief Commercial Officer. I'm extremely grateful to each of these individuals for the work they perform on behalf of the company's many stakeholders. I would like to especially thank Al Collins for his service on the Board of Directors. We have jointly agreed with Al that he will not stand for re-election, and we wish him all the best. With us today are Adam Bahnse n and Brent Hall from Ernst & Young LLP, our independent public accounting firm. Heather Obi from Broadridge Financial Solutions, Incorporated. is the Inspector of Election for this meeting.
A notice of meeting and internet availability was mailed on April 15th, 2026 to all stockholders of record as of the close of business on March the 30th of 2026. An affidavit to that effect has been received from Broadridge Financial Solutions, Inc. and will be attached to the minutes of this meeting. A list of the company's stockholders of record has been available for inspection at the company's Corvallis, Oregon office for the last 10 days. Based on the shares represented in person or by proxy, a quorum is present and we may proceed with the meeting. As set forth in the meeting notice and the accompanying proxy statement, there are three matters of business to be voted on by the stockholders. Proposal one is the election of Directors named in our proxy statement, each of whom has been nominated by the Board and recommended for election.
Proposal two is a non-binding advisory vote to approve the company's executive compensation for 2026. Proposal three, the third item, is the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. We will now proceed to the vote. As stated earlier, the polls have been open for each matter to be voted on today. If you have already provided your proxy card, your shares will be voted accordingly. Please do not fill out the online ballot provided on your screen unless you want to change your proxy vote. I'll pause briefly here to allow stockholders to take any action they feel appropriate. The polls are now closed. We will pause briefly while the votes are tallied.
The Inspector of Elections reports that each of the Director nominees has been elected to the Board of Directors for a one-year term. A non-binding advisory vote to approve the company's executive compensation has passed, and the appointment of Ernst & Young LLP has been ratified. A formal report of the Inspector of Elections detailing the results of the vote on each proposal will be filed with the minutes of this meeting. This concludes the business portion of our business to be conducted today.
There will now be a question and answer period, and I will pause briefly to allow for any questions to be submitted. Thank you. We have received a couple of questions from our stockholders. While the questions were not directly related to the matters that were voted on, we would nevertheless like to respond to them. First, I'll turn the mic over to John Hopkins, our CEO. John?
Thank you, Mr. Chairman. The first one I'd like to address is really more of a comment that we totally concur with, and that's the notion of NuScale technology offers compelling value to commercialization. That means NuScale's ability to deliver clean, reliable electricity, clean water, and enhanced security to smaller communities operating independently of the main grid for superior safety. This, in fact, could result in a national network of compact energy communities, reducing dependence on large centralized plants and fostering multiple suppliers, local jobs, and greater flexibility. Thank you.
Thank you, John. The next question will be addressed by our Chief Financial Officer, Ramsey Hamady. Ramsey?
Thank you, Alan. The question received from our shareholder was, "Does management expect NuScale to be profitable in the 2026 to 2027 period?" Profitability, that is positive net income, is very much a GAAP construct dependent upon the structural nature of contracts, whether those be revenue or expense-related. Absent these firm contracts, the timeframe for achieving and reporting positive net income on a GAAP basis is difficult to predict. Importantly, however, we do believe we can achieve positive cash flow from operations during this period.
Thank you, Ramsey. We have received another question through the portal. The question is a short one. It says: The Directors' skills matrix shows the diversity of the Directors. Why does this matrix still exist? Actually, I think it's still a good governance practice for our shareholders to see the experience that each of our Board members has. Actually, when we look for new Board members, we look to fill out what we think are things that would be additive to the current slate of Directors. I think we will definitely continue that. I think it's actually a good practice. That concludes our Q&A session. We've had no other questions. As such, I would like to thank the stockholders meeting. It is now officially adjourned. Thank all of you for participating and for your support of NuScale. Have a good rest of your day.
This concludes today's meeting. You may now disconnect.