Good morning, ladies and gentlemen, and welcome to T. Rowe Price Group, Inc.'s annual meeting. I will now turn the meeting over to Rob Sharps. Please go ahead.
Good morning, welcome to the T. Rowe Price Group 2026 Annual Meeting of Stockholders. I'm Rob Sharps, Chair of the Board, CEO, and President, and I will preside over today's meeting, which is being conducted in a virtual format. I would like to call the meeting to order. The agenda and rules of conduct are available on the virtual meeting site. The rules of conduct govern how we will run the meeting, and as stated in the rules of conduct, please limit your remarks to the proposal set forth in our 2026 proxy statement. Please note we have allotted an hour for the meeting. In addition, if a stockholder would like to vote at the meeting, the polls are now open for each matter to be voted on today.
Moving to the business of the meeting, there are 13 directors who have been nominated for election, all of whom are attending this meeting. The nominees are Glenn August, Mark Bartlett, Bill Donnelly, Dina Dublon, Allan Golston, Rob MacLellan, Eileen Rominger, Rob Sharps, Cynthia Smith, Bob Stevens, Rich Verma, Sandra Wijnberg, Alan Wilson. Thank you. Our General Counsel and Corporate Secretary, David Oestreicher, will act as Secretary of the meeting. Representatives of Broadridge Financial Solutions Inc. have acted as the tabulator for this annual meeting. Jim Rate of American Election Services will act as the independent Inspector of Election. He has taken his oath as the Inspector of Election, which will be filed with the company's records. Chad Gazzillo of KPMG LLP, our public accounting firm, is with us and will be available to answer any questions you might have related to their engagement.
The record date for voting at this meeting was the close of business on February 20, 2026. The secretary has delivered an affidavit of mailing to show that notice of this meeting was given. A copy of both the notice and the affidavit will be incorporated into the minutes of this meeting. This morning, we are asking our stockholders to do three things. One, elect 13 directors to our board. Two, approve by a non-binding advisory vote the compensation paid to our named executive officers. Three, ratify the appointment of KPMG LLP to serve as our public accounting firm for 2026. After we complete our official business, I will address the meeting, and there will be a question and answer session.
In order to begin, our bylaws require that a majority of all votes entitled to be cast at the meeting be represented in person or by proxy for us to have a quorum. The stockholders' list shows that holders of 217,605,891 shares of common stock of the company are entitled to vote at this meeting, with each share having one vote. We are informed by the Inspector of Election that there are represented in person or by proxy 181,180,984 shares of common stock, or approximately 83% of all shares entitled to vote at this meeting.
Based upon the percentage of the total shares of the company held by holders of record now present at the meeting, either in person or by proxy, a quorum is present. The report of a quorum and all proxies received at this meeting will be filed in the company's records. This meeting is now duly convened. We will now consider today's proposals. Please note that we will give stockholders an opportunity to comment on the proposals themselves after all three proposals have been presented. If any stockholder would like to ask a question or comment on any of the proposals, please submit your questions through the web portal at this time. Any stockholders who haven't yet voted or who wish to change their vote may do so by clicking on the voting button on the web portal when following the instructions there. Proposal one, election of directors.
The first proposal is the election of 13 directors to hold office until the 2027 annual meeting of stockholders. The nominees have been introduced and are listed in your proxy materials. The board recommends a vote for all director nominees presented for election in the proxy statement and at this meeting. Proposal two, say on pay. The second proposal, commonly known as say on pay, is a non-binding advisory vote to approve the compensation paid to our named executive officers as disclosed in our proxy statement. The board recommends approval of the compensation paid to the named executive officers. Proposal three, ratification of KPMG appointment. The third proposal before us today is the ratification of the appointment of KPMG LLP as our accounting firm for 2026. The board recommends the ratification of the appointment of KPMG. We will now address any questions.
Rob, there are no questions at this time.
Because no further business is on the agenda to come before this meeting, we will move on to voting. If anyone has not voted, please do so now. Stockholders who have sent in proxies or voted via telephone or internet do not need to take any further action. I declare the polls now closed and ask that the Inspector of Election collect and tabulate the ballots.
Rob, the inspector of elections has confirmed that the ballots have been counted. Please proceed.
We've been informed by the Inspector of Election that the preliminary vote report shows that the nominees for election to the board have been duly elected. The compensation of the named executive officers has been approved by advisory vote, and the appointment of KPMG LLP for 2026 has been ratified. We will be reporting the final vote results in a Form 8-K to be filed with the SEC within four business days. If there's no further official business to come before this meeting, the 2026 annual meeting of stockholders of T. Rowe Price Group, Inc. is now adjourned. We will now proceed with the informal portion of the meeting. At this time, the web portal is now available for any questions to be submitted, which will be answered after my remarks.
We closed 2025 with $1.8 trillion in assets under management and $56.9 billion in net outflows. For an overview of the company's 2025 results, please visit the investor relations page of our corporate website and listen to the recordings of our quarterly earnings calls. Before I turn to your questions, I want to recognize our associates. It's their dedication to our clients and to our firm that drives my confidence in our path ahead. I will now open the floor to questions. Please note we will attempt to answer as many questions as time allows.
Thank you, Rob. The first question comes from a stockholder named Lawrence Steffy. He asks, "How do you view the performance of your ETF product line thus far?" With that question, I will turn it over to Eric Veiel, our CIO.
Thank you for the question, Lawrence. I would say from an investment performance perspective, we are overall pleased with the performance of our ETFs. As a reminder, as of March 31st, 2026, we had 32 ETFs in market. From a commercial perspective, the product line is also doing well. We have increased our market share and seen significant net inflows since the launch of the strategies. We are at about 1.5% of the active ETF market, and we believe that we have the opportunity to take that market share higher through time, from a combination of increased distribution efforts and new product launches, as long as we continue to deliver strong investment performance.
Yeah. If we just add that we've recently crossed $25 billion in AUM in the ETF franchise.
Excellent. Rob, there are no further questions.
With no further matters to come before the meeting, the meeting is adjourned. Thank you for joining us today.
Ladies and gentlemen, this concludes today's annual meeting. We thank you for participating. You may now disconnect your lines.