Good afternoon. I'm Matthew Pauls, the Chief Executive Officer and Chair of the Board of Savara. It's my pleasure to welcome you to the 2026 Annual Meeting of The Stockholders of Savara Incorporated. It is 3:00 P.M. Eastern Time, and the 2026 annual meeting is now called to order. Joining me today are members of Savara management, including Yasmine Wasfi, our Chief Medical Officer, Dave Lowrance, our Chief Financial and Administrative Officer, Rob Lutz, our Chief Operating Officer, Anne Erickson, our Chief Business and Corporate Affairs Officer, and Braden Parker, our Chief Commercial Officer. Kate McCabe, our Chief Legal Officer, will record the minutes of this meeting. Additionally, I would like to introduce Kristin Keating, a Partner of RSM US LLP, the company's independent registered public accounting firm. This annual meeting is being held in accordance with Savara's bylaws and Delaware law.
We will begin with the formal business of the meeting, where we will address the items described in the company's proxy statement, dated April 24th, 2026. After we complete the formal meeting, we will follow with a question -and-answer session. At that time, validated stockholders may ask questions in the designated field on the web portal. We will now proceed with the meeting. The notice of this meeting, stating the time, place, and purposes, was mailed on or about April 24th, 2026, with postage prepaid to each stockholder of record at the close of business on April 6th, 2026. Affidavits of mailing have been received by the company and will be incorporated into the minutes of this meeting. Broadridge will serve as the inspector of election and has signed the oath of the inspector of election, which will be filed with the minutes of this meeting.
The inspector of election has advised me that we have present, in person and by proxy, a sufficient number of shares to constitute a quorum, so the meeting is duly constituted. For the purposes of this annual meeting, we will vote by proxy and through the web portal today. For all proposals to be voted upon at this annual meeting, each holder of common stock is entitled to one vote for each share of common stock held of record at the close of business on the record date. If you have turned in a proxy and do not intend to change your vote, then it is not necessary that you vote, because we will count your proxy. Those of you who did not turn in a proxy or who wish to change your vote should click on the voting button on the web portal and follow instructions there.
The votes cast today will be counted in the final tally, along with the proxies previously received. It is now 3:02 P.M. Eastern Time on June 4th, 2026, and the polls for each matter to be voted on at this meeting are now open. I will present the matters to be voted upon. Any questions regarding the proposals may be asked through the web portal and will be addressed after all of the proposals have been presented. The first order of business is the election of six directors, each to hold office until the 2027 annual meeting of stockholders, or until his or her successor is duly elected and qualified. A nominee for director shall be elected if he or she receives the affirmative vote of the holders of a majority of the shares of common stock represented at the meeting.
The board of directors has nominated Matthew Pauls, Nevan Elam, Richard Hawkins, Joseph McCracken, David Ramsay, and An van Es-Johansson to continue to serve as our directors. Our board of directors recommends a vote for each nominee. No other nominations were received, the nominations are now closed. The second proposal is the approval of an amendment to our amended and restated certificate of incorporation to increase the number of authorized shares of our common stock from 300 million - 600 million. The affirmative vote of the holders of a majority of the shares of common stock having voting power present or represented by proxy at the meeting is required to adopt the proposal. Our board of directors recommends a vote for this proposal.
The third proposal is the approval of the amendment of our 2024 Omnibus Incentive Plan to increase the number of shares of common stock authorized for issuance thereunder by 18,900,000, as set forth in the amended plan. The board of directors has previously approved the amendment, subject to stockholder approval, because the number of shares remaining available for issuance under the 2024 plan is not adequate to allow us to attract and retain the services of employees and non-employee directors and to motivate participants to achieve long-term objectives. The affirmative vote of the holders of a majority of the shares of common stock having voting power present or represented by proxy at the meeting is required to adopt the proposal. Our board of directors recommends a vote for this proposal.
The fourth proposal is the ratification of the appointment of the firm of RSM US LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. The Audit Committee of our board of directors has approved the appointment. The affirmative vote of the holders of a majority of the shares of common stock having voting power present or represented by proxy at the meeting is required to adopt the proposal. Our board of directors recommends a vote for this proposal. The fifth proposal is the approval on an advisory basis of the compensation of our Named Executive Officers.
Our board of directors has asked our stockholders to indicate their support for the compensation of our Named Executive Officers as described in the proxy statement by voting for the following resolution. Resolved that the compensation paid to the company's NEOs, as disclosed in this proxy statement pursuant to Item 402 of Regulation S-K, including the compensation discussion and analysis, compensation tables, and narrative discussion, is hereby approved. The affirmative vote of the holders of a majority of the shares of common stock having voting power present or represented by proxy at the meeting is required to approve this proposal on an advisory basis. Our board of directors recommends a vote for this proposal. If any stockholder would like to ask a question specifically regarding any of the proposals, please submit your comment through the web portal.
If you plan to vote today and have not yet done so, you must do so now in order for your vote to be counted. Again, if you have turned in a proxy and do not intend to change your vote, then it is not necessary that you vote, because we will count your proxy. The Inspector of Election will not accept proxies, votes, or any changes or revocations submitted after the closing of the polls. It is now 3:07 P.M. Eastern Time on June 4th, 2026, and the polls at this annual meeting are now closed. No additional ballots, proxies, votes, changes, or revocations will be accepted.
The Inspector of Election has informed me that based upon the preliminary voting results, each of the director nominees has been duly elected as a director of the company to serve for the ensuing year or until his or her successor is elected and qualified. The amendment to our amended and restated certificate of incorporation has been approved. The amendment of our 2024 Omnibus Incentive Plan has been approved. The appointment of RSM US LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026, has been ratified, and the compensation of our Named Executive Officers has been approved on an advisory basis. Given that there is no further business for this meeting, the 2026 Annual Meeting of Stockholders is now adjourned. Thank you for your attendance. We will now proceed with the question -and-answer session.
At this time, we would like to open things up for stockholder questions. If you have a question, please submit it through the web portal. We will attempt to answer as many questions as time allows, but only questions that are germane to the meeting will be addressed. I want to thank all of you for attending today's meeting and for the interest you have shown in the affairs of our company. We very much appreciate your attendance, and as always, thank you for your support.
Thank you for joining. Have a pleasant day