Good evening, and welcome to Trimble's 2026 Annual Meeting of Stockholders. I am Rob Painter, President and CEO of Trimble. This meeting is now called to order. Please note that during the course of this meeting, we may make certain forward-looking statements regarding Trimble and our expectations about future events and performance. These forward-looking statements are subject to change, and actual events and results may materially differ due to certain risks and uncertainties. More information about potential factors that could affect Trimble is set forth in reports filed with the SEC. All forward-looking statements are based on information available as of the date hereof, and Trimble assumes no obligation to update such statements. I would like to begin by introducing our directors and officers who are joining this virtual meeting today.
From our board of directors, Börje Ekholm, Ken Gabriel, Meaghan Lloyd, Ron Nersesian, Kara Sprague, Thomas Sweet, and Johan Wibergh. Other representatives from our management team present today include Phil Sawarynski, our Chief Financial Officer, and Jennifer Allison, our Senior Vice President, Chief Legal Officer, and Corporate Secretary, who will also serve as Secretary for this meeting. We also have joining us today Tommy Mount from KPMG, the company's auditor, as well as Brian Paulson of Skadden, the company's corporate legal counsel. Finally, I would like to introduce Paul Rimas, Deputy General Counsel of Trimble, who will be in charge of counting the proxies and votes as the Inspector of Election for this meeting. Mr. Rimas has executed an oath of Inspector of Election.
Before we begin the formal portion of the meeting, I would like to inform you that Mark Peek has submitted his resignation as a Director of the company to the Board, effective immediately. As a result, he will not be standing for re-election, and his name is not being submitted to stockholders at this meeting. The Board made the decision during its March meeting that Tom Sweet would assume the role of Audit Committee Chair, which will be effective immediately. Thomas and the Audit Committee will continue to provide oversight for the ongoing remediation of the material weaknesses, which we anticipate will be completed in 2027. I would like to thank Mark for his tenure at Trimble, where he provided indispensable service to both the Board and the Audit Committee. His strategic and financial expertise was invaluable to Trimble's transformation over the years.
In addition, I would also like to thank James Dalton, who did not run for re-election this year. James has provided significant contributions and unique insights as we execute our Connect and Scale strategy. On behalf of Trimble, we extend our sincere best wishes to both Mark and James as they embark on their future endeavors. I will now ask Jennifer Allison to review the formal procedures for the meeting and to manage the official business of the meeting.
Thank you, Rob. I will now review the formal requirements for this meeting. As a reminder, today's meeting is being conducted live via webcast, and participants are attending virtually and in person. This meeting is being conducted in accordance with Trimble's bylaws and the meeting rules of conduct. The rules of conduct are also posted on the virtual meeting website. In order to allow for an orderly meeting and permit sufficient time for questions, we ask that you follow these rules. We'll be accepting questions online during the course of the meeting and will be answering questions at the end of the meeting. If you would like to submit a question to the company during the meeting, please do so through the Q&A function located on the meeting webpage. All questions will be subject to the rules of conduct.
We have allocated time at the end of the meeting to respond to appropriate questions and will answer your questions to the extent time permits. Notice of this meeting containing instructions on how to access our annual meeting materials, including our proxy statement, annual report, and proxy card, was mailed on or about April 9th, 2026, to all stockholders of record at the close of business on March 30th, 2026, the record date for the meeting. Only holders of Trimble's common stock at the close of business on the record date received notice of and are entitled to vote at the meeting. I have an affidavit signed and sworn to by a representative of Broadridge Financial Solutions as to the mailing. I will include the notice and the affidavit as part of the minutes of this meeting.
A certified list of the company's registered stockholders as of the close of business on the record date is available for inspection via the virtual shareholder meeting webpage. The list is available for inspection during this meeting by any stockholder and will be filed with the records of the company. I now direct the inspector of election to report as to the presence of a quorum at this meeting.
The report as to quorum indicates that there are represented, either in person or by proxy, 213,620,067 shares of the company's common stock, which is approximately 92% of the issued and outstanding shares of common stock entitled to vote.
Thank you, Paul. Rob, since greater than a majority of the company's outstanding shares entitled to vote at this meeting as of the record date is represented here today, we have a quorum present at the meeting, and I declare this meeting duly convened and competent to proceed with the transaction of business. We will now proceed with the official business of the meeting. We have four proposals on which the stockholders will be voting, all of which are described in the proxy statement. Proposal one is to elect eight directors to the Board of Directors to serve until next year's Annual Meeting of Stockholders. The Board of Directors has authorized the nomination of each of the following nominees: Börje Ekholm, Kaigham Gabriel, Meaghan Lloyd, Ron Nersesian, Robert Painter, Kara Sprague, Thomas Sweet, and Johan Wibergh. These nominees were all nominated by the Board.
None of the nominees were proposed by stockholders. The board of directors unanimously recommends a vote for each of these nominees. Proposal two is an advisory vote to approve the compensation for our named executive officers, known as say on pay, as disclosed in our proxy statement. The board of directors unanimously recommends a vote for this proposal. Proposal three is to ratify the appointment of KPMG as our independent registered public accounting firm for the 2026 fiscal year, which ends January 1, 2027. The board of directors unanimously recommends a vote for this proposal. Proposal four is to approve amendments to the company's employee stock purchase plan, including an extension of the term of the plan for another 10 years. The board of directors unanimously recommends a vote for this proposal. Because no further business is scheduled to come before the stockholders, the polls for the voting are now open.
It is approximately 5:07 P.M. Mountain Time. If you have already voted by proxy, including over the internet or by phone, you do not need to take any further action. If you didn't previously vote or wish to change your vote, you may do so now by clicking the voting button and following the instructions on the virtual meeting platform. Until the polls close, any stockholder may revoke or change his or her previously submitted choices online. Once the polls close, no further ballots, proxies, or votes, or any revocations or changes will be accepted online. We will now allow approximately another minute for any stockholders to vote their shares. It is now approximately 5:08 P.M. Mountain Time, and I declare the polls are now closed. The Inspector of Election will now announce the preliminary results.
The final results of the vote will be tallied by the Inspector of Election, recorded as stated in the minutes of this meeting, and also filed with the SEC in a current report on Form 8-K within four business days of the meeting. Paul, please proceed when you are ready.
Thank you, Jennifer. For the first proposal, to elect the eight director nominees standing for re-election to the board of directors, each such nominee received the affirmative vote of a majority of votes cast. Accordingly, each nominee has been elected to the board by the necessary vote of stockholders. For the second proposal, the say on pay vote, approximately 95% of the shares voting during the meeting or represented by proxy were voted in favor, meaning stockholders have given their advisory approval of the company's executive compensation. For the third proposal, to ratify the appointment of KPMG as the company's independent registered public accounting firm for the current fiscal year, approximately 99% of the total shares voting during the meeting or represented by proxy were voted in favor. The appointment of KPMG has been ratified.
Finally, for proposal four, regarding amendments to the employee stock purchase plan, over 99% of the total shares voting during the meeting or represented by proxy were voted in favor. The amendments have been approved by stockholders.
Thank you, Paul. That concludes the formal portion of the annual meeting. We will now move to the question and answer session. At this time, we would be happy to answer any appropriate questions from stockholders of the company in keeping with our rules of conduct. Seeing as there have been no questions submitted, this concludes the question and answer portion of our meeting. If you have specific questions unrelated to the meeting or that are more relevant to your particular circumstances, you can reach out to our investor relations team following the conclusion of this meeting at investor_relations@trimble.com. This concludes our meeting. I hereby declare the meeting adjourned. We appreciate your interest in Trimble. We thank you for attending our 2026 Annual Meeting of Stockholders.