Good day, and welcome to the Taylor Morrison Home Corporation Annual Meeting of Stockholders. I would now like to turn the conference over to Sheryl Palmer. Please go ahead.
Good morning, ladies and gentlemen. I'm Sheryl Palmer, CEO and Chairman of the Board of Taylor Morrison Home Corporation. Thank you for joining us today. In response to the current COVID-19 pandemic, we've elected to host this 2020 Annual Meeting of Stockholders virtually. In keeping with the digital approach to this year's meeting, it's now 8:00 A.M. Pacific Time, and in accordance with our bylaws, this meeting is officially called to order. Each of you should be able to access our agenda and rules of conduct via the web portal. We will conduct the meeting according to that agenda and those rules. As is our custom, we will conduct the business portion of our meeting first and answer questions at the end of the meeting. Throughout the meeting, stockholders may submit questions at any time during this meeting via the web portal.
Out of consideration for others, we ask that you please limit yourself to one question. Though we may not be able to answer every question, we will do our best to provide a response to as many as possible. Please note that the list of stockholders is available on the web portal for inspection during this meeting by any stockholder. Before proceeding, let me introduce my fellow directors who are here with us today: Jeff Flake, Gary Hunt, Pete Lane, Bill Lyon, Anne Mariucci, Dave Merritt, Andi Owen, and Denise Warren. Now, it's my pleasure to introduce Darrell Sherman, our Chief Legal Officer and Secretary, who will act as Secretary and Inspector of Election of the meeting. I will turn to him with any procedural issues that may arise.
Thank you, Sheryl. Good morning. We're also joined today by Travis Childs of Deloitte, our auditors. If questions arise during the discussion period at the end of the meeting that Deloitte can address, they'll be available to respond. The Board of Directors fixed April 1st, 2020, as the record date for determining stockholders entitled to vote at this meeting. An affidavit has been delivered to us attesting that notice of internet availability for this meeting was made to stockholders, and the proxy statement and the 2020 Annual Report were mailed beginning on April 16th, 2020, to all stockholders as of the record date and will be incorporated into the minutes of this meeting. As of the record date, there were over 129,500,000 shares of our common stock outstanding and entitled to vote at this meeting.
We are informed by Broadridge, our mailing and tabulation agent, that there are represented in person or by proxy shares of common stock representing approximately 93% of the voting power on the record date.
Thank you, Darrell. Because holders of a majority of the shares entitled to vote at this meeting are present in person or by proxy, we have a quorum, and this meeting is duly convened. Now, I'll present the matters to be voted upon. Please note that we will give stockholders an opportunity to ask questions about the proposals themselves after all proposals have been presented. At this meeting, our stockholders will be asked, first, to elect eight directors of the company. Second, to approve the advisory vote on executive compensation known as say-on-pay. Third, to approve the advisory vote on the frequency of future say-on-pay votes. And fourth, to ratify the Board's appointment of Deloitte as the company's independent registered public accounting firm for fiscal 2020.
In accordance with our bylaws, our Board has nominated Jeff Flake, Gary Hunt, Peter Lane, William H. Lyon, Anne Mariucci, Andrea Owen, Denise Warren, and myself, Sheryl Palmer, to serve as directors until next year's Annual Stockholder Meeting. Information concerning their principal occupations, service as board members, skills and qualifications, and other matters which may be of interest are contained in our proxy statement. Since no other nominations have been made in time to be recognized as of today's meeting, the nominations are closed. The next matter being submitted to stockholders for action is a non-binding advisory vote to approve the compensation of our named executive officers. Our executive compensation is disclosed and discussed in our proxy statement. This proposal, commonly known as a say-on-pay proposal, gives our stockholders the opportunity to express their views on our executive compensation. As we point out in our proxy statement, we believe our executive compensation programs and policies provide fair, reasonable, and competitive levels of compensation to our named executive officers.
The next matter being submitted to stockholders for action is the approval of an advisory resolution on how frequently they believe we should hold say-on-pay votes. Stockholders have the option of recommending an advisory vote every year, every two years, or every three years, or abstaining from making a recommendation. This proposal is advisory. Although non-binding, the vote will provide information to our compensation committee and our Board of Directors regarding investor sentiment about how frequently our investors would like to hold the say-on-pay vote. Our Board has recommended that say-on-pay votes occur each year, and the final matter being submitted to stockholders for action is the ratification of the appointment of Deloitte as our independent registered public accounting firm for fiscal 2020.
If any stockholder would like to ask a question regarding any of the proposals just discussed, please submit your question through the web portal.
It is now 8:06 A.M. Pacific Time, and the polls are now open. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. Now that everyone has had the opportunity to vote, it is now 8:07 A.M., and I declare the polls for this 2020 Annual Meeting closed. I would now ask that the Inspector of Election tally the votes of any stockholders present at the meeting together with the votes of stockholders represented by proxy, and then report on the results.
Thank you. The holders of a plurality of the shares of common stock present in person or by proxy at this meeting have voted in favor of the eight directors nominated for election. The holders of a majority of shares of our common stock present in person or by proxy at the Annual Meeting and entitled to vote on the matter have voted in favor of the advisory vote on executive compensation. A one-year frequency for say-on-pay votes has received the greatest number of votes cast from the holders of the shares of common stock present in person or by proxy at this meeting. The holders of a majority of shares of our common stock present in person or by proxy at this meeting have voted to ratify the appointment of Deloitte as the company's independent auditor for fiscal 2020.
Thank you, Darrell. In light of those results, I'm pleased to declare that Jeff Flake, Gary Hunt, Pete Lane, Bill Lyon, Anne Mariucci, Andi Owen, Denise Warren, and myself have been duly elected, that the advisory vote on executive compensation has been approved, and that a one-year frequency for say-on-pay votes has been selected by stockholders, and that the appointment of Deloitte for fiscal 2020 has been ratified. Upon final confirmation of the results, I would please ask the Secretary to file the certified tally with the minutes of this meeting. Additionally, we will be reporting the final vote's results in a Form 8-K to be filed within four business days. That concludes the business for this meeting, and now we see we have no further stockholder questions entered today on the web portal, so we will now close the meeting. Thank you very much for your attendance.
The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.