Good day, welcome to the 2026 Annual Meeting of Stockholders of Vishay Precision Group. I would now like to turn the conference over to Saul Reibstein, Chairman of the Board of Directors. Please go ahead, sir.
Thank you. Good morning, ladies and gentlemen, and welcome to the 2026 Annual Meeting of Stockholders of Vishay Precision Group. I'm Saul Reibstein, and I will act as chair of this meeting. First, I'd like to take this opportunity to thank Tim Talbert for his many years of dedicated service as a director and a close personal friend.
I also want to thank and acknowledge that in 2025, we welcomed our newest board member, Kobi Altman, who has already made important contributions to our board. Looking at the past year, fiscal 2025 was a year of transition for VPG.
The company created two new C-suite roles, Chief Business and Product Officer and Chief Operating Officer. With these additions and their teams, VPG has implemented a strategy to achieve growth and operational excellence. They will enable more centralized sales and marketing, product development, and operating efficiency.
With this strategic change, we remain committed to growing by investing in new products and customers, as well as adding high-quality business through our acquisitions. This is an exciting time for VPG as we focus on fast-growing markets such as humanoid robotics, semiconductor testing, and physical AI, applications for our precision measurement and sensing solutions that are being driven by key technology trends.
On behalf of our entire board of directors and the VPG executive team, I want to take this opportunity to thank all of our employees globally, whose diligent work makes VPG the trusted supplier it is to customers around the world. In addition to our solid financial performance, we continue to deploy our capital to support our growth strategies and objectives.
Our strong balance sheet, cash flow, and capital allocation strategy gives us an excellent foundation for the future. I now call our 2026 Annual Meeting of Stockholders officially to order. Now I will turn the meeting over to Bill Clancy, our CFO and Corporate Secretary, to cover the next part of the meeting. Bill is also the duly sworn Inspector of Elections. Bill?
Thank you, Saul. This year, we are again holding our annual meeting in an all virtual format. We appreciate your participation today. Let's begin by attending to a few formalities. I want to turn your attention to today's agenda that will govern the order of business and the rules of order for the meeting.
Copies of the agenda and the rules are available on the virtual meeting site. We ask that participants abide by these rules. If you are a stockholder and you wish to ask a question, you can submit your question at any time on the virtual meeting website. We will post summaries of pertinent questions that comply with the rules of order and our answers to those questions on our investor relations website following the meeting.
The polls are open, and we will close after the presentation of our business matters. Stockholders may cast votes online while the polls are open. I would like to introduce the other directors and director nominee of the company, in addition to Saul Reibstein, who are in attendance with us today at our corporate headquarters in Chesterbrook, Pennsylvania, or through remote access.
Mr. Kobi Altman, Ms. Sejal Shah Gulati, Mr. Erez Lorber, Ms. Nava Swersky Sofer, and Mr. Ziv Shoshani. Further, representatives of Brightman, Almagor, Zohar & Company, a firm in the Deloitte Global network, the company's external auditor, and Troutman Pepper Locke LLP, the company's counsel, are present either in person with us today at our corporate headquarters or through remote access.
As Inspector of Elections, I am pleased to report that proxies representing more than 92% of the voting power of VPG's total issued and outstanding capital stock entitled to vote have been received, and that a quorum is present at this meeting authorizing the conduct of business. The polls will continue to be open at this meeting while all eligible matters for stockholder action are introduced.
We will proceed to move each of the proposals for a vote. Following the balloting, we will present the voting results. The first item of business is the election of directors. The board has duly nominated for election the following persons to serve as directors until the 2027 Annual Meeting of Stockholders. Mr. Kobi Altman, Ms. Sejal Shah Gulati, Mr. Erez Lorber, Mr. Saul Reibstein, Ms. Nava Swersky Sofer, and Mr. Ziv Shoshani. I would like to move for the approval of the election of these nominees as directors. Is there a second?
Second.
The second item of business is the ratification of the appointment of Brightman, Almagor, Zohar & Co., a firm in the Deloitte Global network, as the company's independent registered public accounting firm for the fiscal year ended December 31st, 2026. I would like to move for such ratification. Is there a second?
Second.
The third item of business is the advisory vote on the executive compensation of our named executive officers as disclosed in the proxy statement for this meeting. I would like to move for the approval on an advisory basis of that compensation. Is there a second?
Second.
We have not received notice of any other business to be presented at this meeting. The polls are now closed. I will now share with you the preliminary voting tabulation. Any votes that were cast at the meeting have not yet been included in this preliminary voting tabulation, but they will be included in the final report of the Inspector of Elections and in our published voting results.
Number 1, with respect to the election of the six persons who were nominated for the position of director to serve until the 2027 Annual Meeting of Stockholders, each has been elected by a plurality of the votes of the shares of Common Stock and Class B Common Stock, voting together as a single class, present or represented by proxy. Accordingly, the six nominees for directors have been duly elected.
Proposal two, with respect to the ratification of the selection of Brightman, Almagor, Zohar, and Company, a firm in the Deloitte Global network, as independent registered public accounting firm for the fiscal year end at December 31st, 2026.
The proposal has passed with the affirmative vote of a majority of the votes of the shares of Common Stock and Class B Common Stock, voting together as a single class, present or represented by proxy, and voted for this proposal. The appointment of Brightman, Almagor, Zohar, and Company, a firm in the Deloitte Global network, to serve as independent registered public accountant for the fiscal year end at December 31st, 2026, has been duly ratified.
Proposal three, with respect to the advisory vote on the company's named executive officer compensation, the proposal has passed on an advisory basis with the affirmative vote of a majority of the votes of the shares of Common Stock and Class B Common Stock, voting together as a single class, present or represented by proxy, and voted on this proposal.
Accordingly, the company's current executive compensation has been duly approved on an advisory basis. We will post the details of all these matters on our investor website and file a Form 8-K with the Securities and Exchange Commission to report these results. The final report of the Inspector of Elections will be added to the minutes of this meeting. I now turn the meeting back over to Saul.
Thank you, Bill. As you might have noticed in our press release this morning, we've announced that Bill Clancy, our Chief Financial Officer, who has been an integral part of our senior management team since we first became an independent public company in 2010, has announced his retirement. He has been a major contributor to our success, and we are deeply grateful to him.
Bill's commitment and dedication to our customers, employees, and stockholders have served VPG extremely well. We wish him the best for his well-earned retirement. I'd also like to take this opportunity on behalf of the board to thank Ziv Shoshani for his tremendous leadership in directing the restructuring and advancement of our company in 2025 and throughout our history. Ladies and gentlemen, that completes the business of our 2026 annual meeting.
On behalf of the Board of Directors, I would like to express our appreciation for your continued interest in the affairs of the Vishay Precision Group. I declare the meeting adjourned. I would like to thank everyone for joining us today at our 2026 annual meeting of stockholders. Enjoy the day, everyone. Thank you.
The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.