Good morning, and welcome to the Worthington Steel Annual Meeting of Shareholders. I'm John Blystone, the Executive Chairman of Worthington Steel and Chairman for this meeting. On the call with me today for our virtual annual meeting are President and CEO, Geoff Gilmore , Vice President and Chief Financial Officer, Tim Adams , and Vice President, General Counsel, and Secretary, Joe Heuer . The company's board of directors has appointed Mr. Gilmore, Mr. Adams, and Mr. Heuer as proxies for this meeting. Mr. Heuer will serve as the Secretary of the meeting and will record the minutes. The Board has appointed Broadridge Corporate Issuer Solutions with Gary Wozniak as its representative to serve as Inspector of Election for the meeting. We also have two representatives from KPMG, the company's independent registered public accounting firm, on the call with us today for the annual meeting, Megan Whitfield and Mark Shirlaw.
I now call the meeting to order. We remind you that any forward-looking statements made by the company during the annual meeting are subject to the safe harbor statement found in the company's 2026 Form 10-K filed with the SEC on July 30, 2026. Although this annual meeting is a virtual meeting, you'll be able to participate in the meeting, vote your common shares, and submit your questions by visiting the website for the meeting identified in the company's proxy materials. If you've not yet voted your common shares and wish to do so, I ask that you begin that process now through that website. You'll need to have your control number, which is shown in the box on the proxy card, or notice of internet availability of proxy materials to complete your vote. If you've already voted, you don't need to vote again.
If there are questions that you have related to the annual meeting or the company's business at this meeting, you may now send those in through the website for this meeting by following the online instructions for submitting questions. If any questions are submitted, we will answer valid questions after we finish the formal part of the annual meeting. I have Mr. Heuer's affidavit attesting to the fact that the proxy materials, including a written notice of internet availability of proxy materials for this annual meeting, containing instructions on how to access the notice of the annual meeting for 2026 proxy statement.
The form of proxy solicited by the Board and the actual report to shareholders for the fiscal year ended May 31, 2026, was mailed beginning August 14, 2026, to all shareholders of record at the close of business on July 28, 2026, which is the record date for the annual meeting. Also on August 14, 2026, the company provided the shareholders of record with online access to these proxy materials. Mr. Heuer, please file a copy of the notice of this annual meeting in the minute books with the minutes of the meeting. Mr. Heuer, is the list of registered shareholders as of the record date available?
Yes, Mr. Blystone. The list is available for examination through a secured link available via the chat box on the meeting platform and has been certified by Broadridge.
Okay, Mr. Heuer. Please report on the number of common shares entitled to be voted at the annual meeting.
Mr. Blystone, the report from the company's transfer agent, as reviewed by the duly appointed Inspector of Election for this meeting, states that on the record date, there were 50,946,619 common shares entitled to be voted at this meeting.
Okay. Will the Inspector of Election report the total number of common shares present or represented by proxy and entitled to be voted at this meeting? If there are any shareholders with outstanding proxies, please submit them through the link provided via the chat box at this time.
Mr. Blystone, I have determined that of the 50,946,619 common shares entitled to be voted at this annual meeting, there are at least 46,424,421 common shares present or represented by proxy at this meeting, constituting at least 91.1% of the total outstanding common shares, which is sufficient for a quorum to conduct the business for which this meeting was called. Mr. Blystone, I am submitting a certificate as the Inspector of Election evidencing that a quorum is present for this meeting.
Okay. Well, thank you. I accept the certificate of the Inspector of Election and request that Mr. Heuer file a copy of it with the minutes of the meeting. I declare that all r equired notices for the meeting have been duly given, a quorum is present, and this meeting has been regularly and lawfully convened. Accordingly, this annual meeting may proceed. We'll now turn to the items of business on the agenda. I now declare that the polls are open, and the polls will remain open until all items of business have been presented and discussed. Mr. Heuer, please present th e matters before the annual meeting.
The first matter is the election of four directors, each to serve a term of three years to expire at the 2029 annual meeting of shareholders, and until their respective successors are duly elected and qualified, or until their earlier death, resignation, or removal. The company's Board of Directors has nominated John B. Blystone, John H. McConnell II, Nancy G. Mistretta, and Sidney A. Ribeau for election to the Board of Directors. There were no other nominations submitted in accordance with the company's code of regulations. The Board slate o f Directors nominees is now formally placed before this meeting. The second matter is the approval on an advisory basis of the compensation of the company's named Executive Officers as reported in the proxy statement for thi s annual meeting. The Board is asking shareholders to approve the following advisory resolution.
Resolved that the shareholders of Worthington Steel, Inc. approve on an advisory basis the compensation of the company's named executive officers as disclosed in the company's proxy statement for its 2026 annual meeting of shareholders pursuant to the executive compensation rules in Item 402 of SEC Regulation S-K, including the compensation discussion and analysis, the fiscal 2026 summary compensation table, and the related executive compensation tables, notes, and narratives. This proposal is now formally placed before this meeting. The third and final matter is the ratification of the selection of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending May 31, 2027. This proposal is now formally placed before this meeting.
Okay. Thank you, Mr. Heuer. Is there any discussion? We haven't received any questions, so we'll move forward. We'll vote on the three items of business. As I said earlier, if you've already voted the proxy, you don't need a ballot to vote at this meeting unless you wish to revoke the proxy and change your vote on these items. If you are a shareholder on the record date and need to cast your vote, please do so via the link located in the chat box on your screen. The Inspector will inspect the ballots at this time, and the polls are now closed for these three items of business. Moreover, because the company did not receive proper notice of other business to be brought before the meeting, the polls are now closed on all matters.
Mr. Heuer, please present the results of the voting as tabulated and certified by the Inspector of Elections.
The report from the Inspector of Elections shows that the four individuals nominated by the Board of Directors were duly elected as Directors by the company's shareholders. The advisory resolution to approve the company's executive compensation was approved by the company's shareholders. The selection of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending May 31, 2027 was ratified by the company's shareholders.
Okay. With no other matters to address, I'm going to declare that the annual meeting of shareholders is adjourned. Thank you for joining us today.