Good morning. I'm Cheree McAlpine, and I'm the Chief Legal Officer of Zoom Video Communications Inc. I'm very happy to welcome you to Zoom's 2025 Annual Stockholders Meeting. Before we begin, Zoom's founder and CEO and fellow stockholder, Eric Yuan, would like to say a few words. Eric?
Thank you, Cheree. Good morning, everyone, and welcome. I want to start by thanking you all, our investors and shareholders, for your continued support of Zoom. As I reflect on FY2025, I'm incredibly proud of how we evolved our mission, refined our strategy, and strengthened our value proposition for our customers to position ourselves for long-term success. We sharpened our focus as an AI-first open work platform while significantly expanding our capabilities across communication and collaboration, customer experience, and employee engagement. Amid ongoing macroeconomic pressures, we executed with agility, dialing up innovation and delivering value to both our customers and shareholders. On the Q4 FY2025 earnings call, I shared the three key strategic priorities: expand AI capabilities to drive customer value, rapidly innovate within Zoom Workplace, and scale growth businesses. These priorities are guiding Zoom now, and as we look ahead, building upon the progress achieved in FY2025.
Thank you once again for joining our Annual Stockholders Meeting. I'm appointing Cheree McAlpine as Secretary of this meeting, and I will now turn things back over to her. Thank you.
Thank you, Eric. The meeting will now officially come to order. The time is now 10:03 A.M. Pacific Standard Time on Thursday, June 12, 2025, and the polls are now open for voting on all matters to be presented. As you know, we are hosting today's meeting through our virtual online platform hosted by Broadridge. I'd like to introduce other members of the Zoom team who are with us today. I have here joined with me and Eric are Michelle Chiang, our CFO, and Charles Eveslage, our Head of Investor Relations. Also present virtually at the meeting are members of our Board of Directors. We have Cindy Hoots, Dan Scheimann, Jonathan Chadwick, William McDermott, and Santi Subitovsky, who have all joined us here today. Also in attendance virtually are Connor Moore and Candace Byers of KPMG, the company's independent registered public accounting firm.
We will proceed with the formal business of the meeting in the order set forth in the Notice of Annual Meeting and Proxy Statement. We will first present the three proposals submitted for approval by our Board of Directors. We will take questions related to the proposals that have been submitted through the Broadridge portal after all of the proposals have been presented, after which we will announce the preliminary results of the voting. As I mentioned earlier, the polls are open for voting on all matters to be presented. Each share of Class A Common Stock is entitled to one vote, and each share of Class B Common Stock is entitled to 10 votes. After I describe each item to be voted on, we will close the polls. We will not accept ballots, proxies, revocations, or changes after the closing of the polls.
If you've already submitted your vote by proxy and do not wish to change your vote, you do not need to vote now, and your shares will be voted as previously instructed. If you intend to vote and have not already done so, you must submit your vote online now in order for it to be counted. If you have not voted, I encourage you to vote online right now. A copy of the rules of conduct for this meeting is available on the Broadridge portal. In order to conduct an orderly meeting, we ask that you follow these rules. Stockholders who are attending this meeting with a valid 16-digit control number may submit questions or comments through the text box located on the virtual meeting screen. We will try to answer questions submitted that are relevant to the proposals if we have time.
Charles Eveslage will screen incoming questions, and during the Q&A portion of the meeting, we will read your main questions out loud for Eric, Michelle, or myself to respond. Please submit your questions now to make sure they are received in a timely fashion for our review and response. Please note that our discussion today may include forward-looking statements, and our actual results may differ materially from those discussed here. Additional information concerning the factors that could cause such a difference can be found in our most recently filed quarterly report on Form 10-Q. All our statements are made as of June 12, 2025, based on information available to us as of today, and except as required by law, we assume no obligation to update any such statement.
I have an affidavit signed by Broadridge stating that all appropriate shareholder meeting notices and documents were mailed commencing on May 1, 2025, to all shareholders of record as of April 14, 2024, the record date. At this time, I'd like to introduce Heather Obi of Coradio Group, who is present virtually. We have appointed Heather to act as Inspector of Elections at this meeting. Heather has taken and subscribed the customary oath of office to execute her duties with strict impartiality. We will file this oath with the record of the meeting. Her function is to decide upon the qualifications of voters, accept their votes, and when validating on all matters is completed, to tally the final votes.
I've been informed by the Inspector of Elections that proxies have been received for shares representing approximately 82.77% of all the aggregate voting power of the Class A Common Stock and Class B Common Stock outstanding on the record date. This constitutes a quorum for the meeting today, and we may now carry out the official business of the meeting. We will now proceed with the formal business of the meeting. After all of the proposals have been described, we will answer any questions related to proposals submitted online. As a reminder, we ask that any comments or questions pertain only to these proposals. Please submit any questions as soon as possible for our review. There are three proposals to be considered by the stockholders at this meeting.
The first item of business is the election of the Class Three Directors to serve until our 2028 Annual Stockholder Meeting or until their successors are duly elected and qualified. The nominees for Class Three Directors are William R. McDermott, Mike Finger, and Santiago Subitovsky. The second item for business today is the ratification of the appointment of the Audit Committee by the Audit Committee of our Board of Directors of KPMG as independent registered public accounting firm for our fiscal year ending January 31, 2026. Finally, the third item of business is to approve on an advisory non-binding basis the compensation of our named executive officers as disclosed in our proxy statement. There are no other proposals for today's meetings. We will now review if there are any questions submitted about the proposals before we close the polls.
As a reminder, we will only review and answer questions at this time that pertain to the proposals. Charles, are there any questions pertaining to the proposals?
No, Cheree. There are no questions pertaining to the proposals.
Thank you, Charles. The time is now 10:09 A.M., and the polls are now closed for voting. Based on the preliminary report of the Inspector of Elections covering the proposals presented at this meeting, the results are as follows. The proposal to elect Bill McDermott, Mike Finger, and Santiago Subitovsky as Class Three Directors of the company is carried. The appointment of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending January 31, 2026, is ratified. The compensation of our named executive officers as disclosed in our proxy statement on an advisory non-binding basis is carried. This concludes the formal portion of today's meeting, and the annual meeting is now adjourned. Thank you again for your attendance at today's meeting and for your continued support of Zoom. Thank you all.