Welcome to the annual meeting of shareholders for Camden Property Trust. Our host for today's call is Richard J. Campo, Executive Chairman. I will now turn the call over to your host. Mr. Campo, you may begin. Thank you. This is the annual meeting of shareholders of Camden Property Trust. I am Richard J. Campo, the Executive Chairman of the Board of Trust Managers. Thank you for joining Camden's 2026 virtual annual shareholders meeting. Camden is holding its annual shareholder meeting as a virtual meeting as permitted by the state of Texas and our bylaws. Before we begin, I would like to advise you during the closing remark portion of the meeting, we may make forward-looking statements based on our current expectations and beliefs. These statements are not guarantees of future performance and will involve risks and uncertainties that could cause actual results to differ materially from expectations. Further information about these risks can be found in our filings with the SEC, and we encourage you to review them. That everyone will know what to expect this morning, let me summarize the procedures for this meeting. A full copy of the rules of conduct and procedures for this meeting can be found by clicking the link at the bottom of your screen. First, shareholders may submit questions at any time during the meeting by clicking on the button located at the bottom right-hand portion of the screen. We cannot guarantee we'll answer all questions. If you do not get your question answered during this meeting, Connie Chou, our director of investor relations, will contact you via email or phone to discuss your inquiries. Next, shareholders can vote during this meeting at any time from the beginning of the meeting through the presentation of the proposals until we close the polls by using the voting button located in the bottom right-hand portion of the screen. However, if you've already voted in advance by using an online ballot or a physical proxy card, a vote at this meeting will supersede your earlier vote. If you have already voted, you don't need to vote again. Finally, in the event of any technical difficulties before the official adjournment of this meeting, we may temporarily adjourn and reconvene in accordance with our bylaws. I wanna thank each of you for participating in our virtual meeting today. I'd first like to announce the officers and trust managers who are on the call with us today. We have Keith Oden, our Executive Vice Chairman; Alex Jessett, our CEO and Trust Manager; Laurie A. Baker, our President and COO; Ben Fraker, Executive Vice President, Chief Financial Officer, and Treasurer; Josh Lebar, our Senior Vice President, General Counsel, and Secretary. Trust managers, we have Kelvin R. Westbrook, our Lead Independent Trust Manager; Scott S. Ingraham, Frances Aldrich Sevilla-Sacasa, Steven A. Webster, Heather J. Brunner, Javier E. Benito, and Renu Khator. I would also like to acknowledge Dustin Schultz and Melissa Ji from Deloitte & Touche LLP, our independent registered public accounting firm, and Toni Weinstein from Dentons, our outside legal counsel, who are also on the call as well. I would now like to proceed with the formal business of the annual meeting. Josh Lebar, secretary of the trust, will act as secretary of the meeting. An alphabetical list of shareholders of record of the trust at the close of business on March 16th, 2026, the record date for this meeting, is available to shareholders at this meeting by clicking the link located at the bottom of your screen. The list of shareholders is open for inspection by any shareholder participating in this virtual meeting and will remain open for inspection during this meeting. Each shareholder of record entitled to vote at this meeting has received a copy of the notice of annual meeting of shareholders and the proxy statement dated March 27, 2026, as evidenced by an affidavit of distribution made by an authorized agent of Broadridge Financial Solutions, Inc, the designee of distribution for our common shares. The first order of business today is to determine the presence of a quorum. Holders of record of common shares at the close of business on March 16, 2026, are entitled to vote at this meeting. Mr. Secretary, have you examined the list of shareholders? Mr. Chairman, I have examined the list of shareholders entitled to vote at this meeting and have determined that as of the record date, March 16, 2006, there were 102,653,274 common shares outstanding and entitled to vote. I have also determined that more than 50% of those shares are represented at this meeting, therefore, a quorum is present. Accordingly, the meeting is legally convened. Based on the report of the secretary, a quorum is in attendance. Ben Fraker has been appointed as inspector of election and has sworn to the oath of the inspector of election. The next order of business is the election of trust managers. The board has selected each of the following persons as a nominee for election. They are Richard J. Campo, D. Keith Oden, Kelvin R. Westbrook, Javier E. Benito, Heather J. Brunner, Mark D. Gibson, Scott S. Ingraham, Renu Khator, Frances Aldrich Sevilla-Sacasa, Steven A. Webster, and Alexander J. Jessett. I will now entertain a motion to elect each of these nominees as trust managers. I so move. Thank you. Is there a second? I second the motion. The polls are now open for voting on the election of trust managers. Everyone who is entitled to vote or who desires to vote should do so now using the voting button located at the bottom of your screen. The votes are in, and I declare the polls closed. Mr. Secretary, do you have the preliminary results? Mr. Chairman, I have received the report of the inspector of election. Based on the proxies granted in advance of this meeting, it appears Alexander J. Jessett has received more than two-thirds of the common shares outstanding and entitled to vote, and each of the other nominees have received at least 50% of the votes cast. Each is therefore reelected. Thank you. The next order of business is the approval on an advisory basis of the following resolution to approve on an advisory basis the compensation of our named Chief Executive Officers. Resolve that the Trust shareholders approve on an advisory basis the compensation of the named Chief Executive Officers as disclosed in the Trust proxy statement for the 2026 annual meeting of shareholders. I'll now entertain a motion to approve this resolution. I so move. Thank you. Is there a second? I'll second the motion. Thank you. The polls are now open for voting on approval on an advisory basis of the compensation of our named executive officers. Everyone who's entitled to vote or who desires to vote should do so now by using the voting button. Apparently, the votes are in, and I declare the polls closed. Mr. Secretary, do you have the preliminary results? Mr. Chairman, I have received the report of the inspector of election, and based on the proxies granted in advance of the meeting, it appears the resolution has been approved by a majority of the votes cast. Thank you. The next order of business is the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2026. I'll now entertain a motion for such ratification. I so move. Thank you. Is there a second? I second the motion. The polls are now open for voting on the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm. Everyone who's entitled to vote or desires to vote should do so now using the voting button. Apparently, the votes are in, and I declare the polls closed. Mr. Secretary, do you have the preliminary results? Mr. Chairman, I received the report of the inspector of election, and based on the proxies granted in advance of the meeting, it appears the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2026 has received at least 50% of the votes cast and therefore is approved. Thank you. The next order of business is the approval of the following resolution to approve the amended and restated 2018 share incentive plan, which was adopted subject to shareholder approval by the Board on February 26th, 2026. Resolve that the trust shareholders approve the amended and restated 2018 share incentive plan, which was adopted subject to shareholder approval by the Board on February 26th, 2026. I'll now entertain a motion for such approval. I so move. Thank you. Is there a second? I second the motion. The polls are now open for voting on the approval of the amended and restated 2018 share incentive plan. Has everyone voted who is entitled to vote or who desires to vote? Apparently, the votes are in, and I declare the polls closed. The Inspector of Election will now tabulate the votes cast. Mr. Chairman, I have received the report of the Inspector of Election. The resolution has been approved by a majority of the votes cast. Thank you. The next order of business is the approval of the following resolution to approve the amended and restated 2018 employee share purchase plan, which was adopted subject to shareholder approval by the board on February 26, 2026. Resolve that the trust shareholders approve the amended and restated 2018 employee share purchase plan, which was adopted subject to shareholder approval by the board on February 26, 2026. I'll now entertain a motion for such approval. I so move. Thank you. Is there a second? I second the motion. The polls are now open for voting on the approval of the trust's amended and restated 2018 Employee Share Purchase Plan. Has everyone voted who's entitled to vote or desires to vote? Apparently, the votes are in, and I declare the polls closed. The Inspector of Election will now tabulate the votes cast. Mr. Chairman, I have received the report of the Inspector of Election. The resolution has been approved by a majority of the votes cast. Thank you. The Secretary is directed to file with the records of the trust for the purpose of reference the following: a list, the list of shareholders entitled to vote at this meeting; the notice of annual meeting of shareholders, proxy statement, and affidavit of distribution; the ballots cast online during this meeting; the Inspector's oath; and the report of the Inspector of Election. At this time, I would like to introduce Alexander Jessett to give us some brief closing remarks. Thanks, Rick, thanks everybody for joining us today. Camden is in the right high-growth, high-demand markets with the right products and, most importantly, the right teams. The record level of supply we've experienced over the past few years is being rapidly absorbed. New starts are down dramatically in our markets, our consumer is stronger than ever, paying a low 19% of their income to rent with higher earnings and more savings than pre-COVID. Our markets are creating jobs and growing population, setting us up for what should be a strong recovery for Camden. Thank you for your continued support. Camden team members, thank you for what you do every day for one another, for our customers, and for our shareholders. Thank you all and take care. Thanks, Alex. Now I'll go to Connie Chou. Do we have any questions from shareholders at this meeting, Connie? There are no questions to be answered at this time. Okay, great. We appreciate you attending this meeting. As there appears to be no other business to come before the meeting, a motion to adjourn is in order. I so move. I second the motion. All in favor say aye. Aye. Aye. Are there any opposed? Say no. The ayes have it. Thank you. I declare this meeting adjourned. Thanks for joining today. Thank you. This now concludes the meeting. Thank you for joining. You may disconnect at any time. Thanks.