Good morning, ladies and gentlemen. I'm Ryan Pape, Chair of the Board, President, and CEO of XPEL. I welcome you to the company's 2024 Virtual Annual Stockholders Meeting. Before we begin, I'd like to remind you that during today's meeting, including any presentation or Q&A session, we may make forward-looking statements regarding expected revenue, earnings per share, results of operations, future plans, opportunities, and expectations of the company. These estimates and plans and other forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. These risks are detailed in our latest Form 10-K, filed with the SEC on February 28, 2024, our quarterly report on Form 10-Q, filed with the SEC on May 9, 2024, and in other statements made by the company.
The statements made during this meeting are based upon information known to XPEL as of today. XPEL assumes no obligation to update the information we present to you. Today, we'll first conduct the business of the meeting, and then we will follow with a Q&A period. Also, there are a few procedural matters I would like to go through. On the meeting webpage, you will find the agenda and rules of conduct for the meeting. In addition, the proposals we are presenting and voting on are listed as well. You may use Click Here to Vote Your Proxy, if you wish to vote or change your vote prior or during the meeting. In addition, if you log in using the control number from your proxy card, you will then be able to submit questions. We will address questions after the close of the business portion of the meeting.
Before we begin our presentations, I'd like to introduce members of our board of directors who are with us today on the webcast. In addition to me, we have Stacy Bogart, Rick Crumly, Michael Klonne, and John North. Barry Wood, our Senior Vice President and Chief Financial Officer, is serving as our Inspector of Elections. He has previously signed an oath of office, which has been properly filed in the corporate records. Also participating is Paul Beacham of Deloitte & Touche, the company's independent registered public accounting firm. Tunde Awodiran, our Senior Vice President, General Counsel, and Secretary, will act as secretary of the meeting. I will now ask him to give us the quorum report and also a report on other administrative matters. Tunde?
Thank you, Mr. Chair. As of the close of business on April 16, 2024, the record date, XPEL had 27,633,935 shares of its common stock issued, outstanding, and entitled to vote at this meeting. The inspector of elections has reported that stockholders entitled to cast more than 83% of the votes eligible to be cast at the meeting are present or represented by proxy. Therefore, a quorum is present, and the meeting may proceed. In addition, I would like to report that the annual.
The notice of annual meeting of stockholders dated April 26, 2024, as well as a form of proxy, proxy statement, and our annual report on Form 10-K, were made available to, on the internet and by mail on or about that date to each of the stockholders of record of the company as of the close of business on the record date. Mr. Chair, I have provided to you the notice of annual meeting, proxy statement, form of proxy, annual report on Form 10-K, and an affidavit of mailing prepared by XPEL's transfer agent, Continental Stock Transfer & Trust Company.
I also have a copy of a list of registered stockholders of the company entitled to vote at the meeting, which has been available for the 10 days preceding the meeting and open to the examination of any stockholder for any purpose germane to the meeting.
Thank you, Tunde. The affidavit of mailing, the affidavit of the inspector, the stockholders list, along with the notice of annual meeting, annual report on Form 10-K, proxy statement, and form of proxy, will be filed with the minutes of this meeting. With the quorum present, I declare this meeting is duly constituted and convened and may proceed with the transaction of business. We will now read the proposals to be voted upon, after which time we will open the polls. After the polls are open, we will be pleased to answer your questions regarding XPEL and the proposals. There are three proposals to be considered by the shareholders. Tunde will read the first proposal.
Okay. The stockholders are asked to vote on the election of five members of the board of directors, with each serving for one-year term. The nominees are Ryan L. Pape, Stacy L. Bogart, Richard K. Crumly, Michael A. Klonne, and John North, who are current directors of the company.
Do I hear a motion for the election? We have a motion from Chris Coffee. Do I hear a second? We have a second from Carlos Alvarez. Tunde, please read the second proposal.
The stockholders are asked to vote on a proposal to ratify the appointment of Deloitte & Touche LLP as the company independent registered public accounting firm for the year ending December 31st, 2024 .
Do I hear a motion for the ratification of Deloitte & Touche as the company's independent registered public accounting firm for the year ending December 31, 2024? We have a motion from Barry Wood. Do I hear a second? We have a second from Duane Gotro. Tunde, please read the third proposal.
The stockholders are asked to approve on an advisory basis, the compensation of the company's named executive officers.
Do I hear a motion for the approval on an advisory basis, the compensation of the company's named executive officers? We have a motion from Duane Gotro. Do I hear a second? We have a second from Tony Rimas. I now declare the polls open for voting on the motions. If you're a stockholder of record and have not voted yet, or if you want to change your previously cast vote and you wish to vote now, you can do so online now. You will need your 12-digit control number in order to vote today. Thank you, everyone. We will wait a few moments for vote tabulation, and once completed, we will close the polls and announce the results. I understand the votes are now tabulated. I now declare the polls closed. Barry, please read the inspector of elections report on the tabulation of votes.
Mr. Chair, the results based on the voting of shares represented by proxies on file and tabulated at the meeting this morning show the following: The director nominees have received the greatest number of votes of those shares that were represented at the virtual annual meeting and voted for the election of directors, and therefore, each of them has been directed as director to serve for the term expiring on the date of the company's 2025 annual meeting, and until his or her respective successor is duly elected and qualified. The proposal to ratify the appointment of Deloitte & Touche LLP received a majority of the shares represented and entitled to vote at the annual virtual meeting, and therefore the selection of Deloitte & Touche LLP, as XPEL's independent registered public accounting firm for the year ended December 31, 2024, has been ratified.
The proposal to approve, on an advisory basis, the compensation of the company's named executive officers, received the majority of the votes cast, represented, and entitled to vote at the annual virtual meeting, and therefore, the compensation of the company's named executive officers has been approved, approved. Mr. Chair, that concludes the reporting of the voting. Details of the results will be available for all stockholders and our filings with the SEC within four business days. Stockholders may also obtain the voting results by calling or writing our corporate secretary.
Thank you, Barry. With the voting concluded, there is no further business to be conducted at today's meeting, and the meeting is hereby adjourned. Thank you all for attending today's meeting. At this point, we're happy to answer any questions that you can submit through the website, and we'll pause for a moment to check for questions. There being no questions submitted, is there any other business or further questions anyone would like to ask to come before we end the webcast? With no further questions, the webcast is hereby concluded. We appreciate your interest and your attendance. Thank you.