Hello, welcome to the Five Point Holdings 2026 annual meeting of shareholders. I will now turn the call over to Stuart Miller, Executive Chairman of Five Point. Good afternoon, welcome to the 2026 Annual Meeting of Shareholders of Five Point Holdings. I am Stuart Miller, and I will be presiding as chairman of this virtual meeting. At this time, I call the meeting to order. Please note that the agenda for this meeting is available online at the virtual meeting platform. There are three items of business on today's agenda. Number one, the election of Kathleen Brown, Gary Hunt, and Mike Winer as Class II directors, each to serve for a three-year term expiring at the 2029 Annual Meeting of Shareholders. Number two, the approval on a non-binding advisory basis of the compensation paid to the company's named executive officers. Three, the ratification of the appointment of Deloitte & Touche as our independent registered public accountant for the year ending December 31st, 2026. Four, the amendment and restatement of the company's 2023 Incentive Award Plan. I would like to take this opportunity to welcome our directors who are attending today's virtual meeting. I would also like to acknowledge our executive team, including Dan Hedigan, our President and Chief Executive Officer, Mike Alvarado, our Chief Operating Officer and Chief Legal Officer, Kim Tobler, our Chief Financial Officer and Treasurer, and Greg McWilliams, our Chief Policy Officer, and Peter Krogh, our General Counsel and Secretary. Finally, I would like to welcome Amrita Nambiar, sorry for the pronunciation, a partner with Deloitte, our independent accountants. Ms. Nambiar has no formal statement to make, but will be available to respond to appropriate questions from shareholders later during the question and answer session. I would like to turn it over to Mr. Krogh, who will review certain procedural items. Thanks, Stuart. The rules of conduct for today's meeting are available online at the meeting website. To conduct an orderly meeting, we ask that participants abide by these rules. Any shareholders attending the meeting with a valid control number have the ability to vote and to submit questions through the meeting website. Please submit any questions as soon as possible to make sure they are received in a timely fashion. If you've already voted by proxy and don't wish to change your vote, your vote will be cast as previously instructed. If you already voted by proxy but want to change your vote, or if you're a record holder and wish to vote, please have your control number in hand and click on the voting link at the meeting website. The polls have been open for voting since the beginning of this meeting at 1:30 PM Pacific Time. The polls will be closed to voting after we go through the matters to be voted on at this meeting. We will not accept ballots, proxies, revocations, or changes after the closing of the polls. Cynthia Skoglund has been appointed to act as the Inspector of Election for this meeting. The Inspector of Election determines the number of votes represented in person and by proxy, the authenticity and validity of the proxies, the existence of a quorum, and the number of votes cast on all matters. Ms. Skoglund has submitted her oath as Inspector, and the Secretary will file it with the records of the meeting. We will now begin the formal part of the meeting. The board of directors set April 9th, 2026, as their record date for determining shareholders entitled to vote at this meeting. I have been advised by Broadridge Financial Solutions that notice of this annual meeting was first mailed or made available on or about April 24th, 2026 to shareholders of record on the record date, and we have received an affidavit to that effect. We have a certified list of all holders of record at the close of business on the record date. A duplicate record has been on file at the office of the company for the last 10 days, available for inspection by any shareholder at any time during ordinary business hours. Before acting upon the official business of this meeting, we will determine whether a quorum is present. Ms. Skoglund has informed me that a preliminary tabulation at the opening of the meeting shows that 91.5% of the company's shares are represented here today, either in person or by proxy. Since at least a majority of the company's shares are represented here today, a quorum is present, the meeting is duly constituted, and the business of the meeting may proceed. The proposals to be voted on at this meeting are described in our proxy statement that was made available to all shareholders. Each proposal will be voted on separately. As a reminder, the polls are now open and will close after the last proposal has been presented. I'll now turn it back over to Mr. Miller to review the proposals being voted on at this meeting. Great. The first item of business today is the election of three Class II directors to our board of directors. The Class II directors will each serve for a three-year term expiring at the 2029 annual shareholders meeting. The board of directors' nominees for election as Class II directors are Kathleen Brown, Gary Hunt, and Mike Winer. The election of each director will require the affirmative vote of a plurality of the votes cast on this proposal. The board of directors unanimously recommends a vote for the election of each of the nominated directors. The second item of business is the approval on a non-binding advisory basis of the compensation of the company's named executive officers, as required pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. As discussed in the compensation discussion and analysis section of our proxy statement, we believe our executive compensation programs and policies provide fair, reasonable, and competitive levels of compensation to our named executive officers. The board of directors recommends approval of the compensation of the named executive officers. The third item of business is the ratification of the appointment of Deloitte as the company's independent accountants for the fiscal year ended December 31st, 2026. The audit committee of the board has appointed Deloitte to serve in this capacity. The approval of this proposal requires the affirmative vote of a majority of the votes cast on this proposal. The board of directors unanimously recommends that shareholders vote in favor of this proposal. The final item of business is the approval of the amendment and restatement of the company's 2023 Incentive Award Program. The approval of this amendment requires the affirmative vote of a majority of the votes cast on this proposal. The board of directors unanimously recommends that shareholders vote in favor of this proposal as well. All right. Now that concludes the voting at today's meeting, and the polls for each matter to be voted on at this meeting are now closed. The inspector of election has tallied the votes and will now announce the preliminary results. Thank you. As of this time, based on the preliminary results, all director nominees have been elected to serve until the 2029 annual meeting or until their successors are duly elected and qualified. The compensation of the company's named executive officers has been approved. Deloitte & Touche has been ratified as the company's independent registered public accounting firm for the fiscal year ended December 31, 2026, and the amendment and restatement of the company's 2023 Incentive Award Plan has been approved. Thank you, Ms. Skoglund. Following verification of proxies and ballots, the inspector will file a detailed certificate of results under oath with the company's records, and the company will report the official and final voting results for the matters voted on at the meeting. The inspector of election will prepare a written report of the final vote count with respect to proposals voted on today, which will be included in the minutes of this meeting. This concludes the official business of the meeting. I declare this meeting adjourned and will turn it over to Mike Alvarado for question and answers. Thanks, Stuart. As a reminder, only confirmed shareholders as of the record date are permitted to ask questions. Questions can be asked by typing in the box provided on today's virtual meeting platform. While we will try to answer any questions that are germane to the business of the meeting, due to time constraints, or if questions appear to be of individual concern, we may not answer the question during the meeting. Thank you in advance for your cooperation. Okay, since it appears there are no questions, that completes our agenda, and this concludes the proceedings. On behalf of Stuart and the rest of our board of directors, we'd like to express our appreciation to the shareholders who attended online today, as well as those who submitted their proxies but were unable to attend. Thank you for participating and for your investment in Five Point. This concludes today's call. Thank you for your participation. You may now disconnect.
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