Welcome to the annual meeting for UnitedHealth Group Incorporated. Our host for today's call is Stephen Hemsley, CEO. I will now turn the call over to your host. Mr. Hemsley, you may begin, sir. Thank you. Good morning. My name is Stephen Hemsley. As CEO of UnitedHealth Group, I'm honored to welcome you to our 2026 Annual Meeting of Shareholders. I'm joined today by members of our board. Bill McNabb, our Lead Independent Director, Charles Baker, Tim Flynn, Paul Garcia, Kristen Gil, Dr. Scott Gottlieb, Dr. Valerie Montgomery Rice, and Dr. John Noseworthy. John England of Deloitte & Touche is also present. Also with us today for UnitedHealth Group, our Chief Financial Officer, Wayne DeVeydt, and Chris Zaetta, Executive Vice President, Chief Legal Officer, and Corporate Secretary. I will act as chair of the annual meeting, and Chris will serve as secretary for this meeting. We will now proceed. Chris will conduct the formal portion of our meeting, after which I will offer brief comments, and we'll take your questions. Chris? Thank you, Steve. I now call the meeting to order and declare the polls to be open for voting on all items of business for this meeting. First, I want to make sure our shareholders know how to submit questions for today's session. Please log in to the meeting with your control number and submit your question online now so we receive them during the meeting. Please enter your name and organization, if applicable, along with your question. Questions may be submitted until the conclusion of the presentation of proposals. If we receive multiple questions on a similar topic, we will combine the questions and address them once. If your question relates to a proposal, please indicate which proposal in your question so it can be addressed at the appropriate time. All questions should be properly focused on the business of the company. Questions that are not directly related to the agenda of today's meeting or the business of the company may be excluded. We have made available to you on the annual meeting website an agenda, as well as guidelines and procedures to be followed during the meeting. In the interest of openness and fairness to all shareholders participating today, we will follow these guidelines and complete the formal business in accordance with these procedures. Copies of the notice of the annual meeting, the 2026 proxy statement, and the annual report are available on the virtual annual meeting website. All of these documents will be filed with the records of the meeting. Peder Hagberg of CT Hagberg LLC has been appointed as Inspector of Election for this annual meeting and is present with us virtually today. As the Inspector of Election, Mr. Hagberg will inspect the votes during the meeting and will inform us of the preliminary results of the votes cast. Mr. Hagberg has taken and signed an oath to execute faithfully the duties of Inspector of Election with strict impartiality and according to the best of his abilities. His oath will be filed with the records of the meeting. The record date fixed by the board of directors for the determination of shareholders entitled to receive notice and vote at this meeting was the close of business on April 2nd, 2026. As of that date, the company had outstanding 908,213,180 shares of common stock, the only class of stock issued and outstanding. Each share is entitled to one vote. 768,061,869 shares of common stock out of a total of 908,213,180 shares of common stock outstanding on the record date are represented at the meeting by proxy. Therefore, a quorum is present. This meeting is duly constituted, has been duly convened, and is ready to proceed with the transaction of business. As I indicated earlier, the polls are open for voting on all items of business for this meeting. We will close the polls after the proposals have been presented. If you wish to vote and have not already done so, please follow the instructions included in the meeting guidelines. If you have previously voted by proxy, there is no need to vote during the virtual meeting unless you want to change your prior vote or revoke your proxy. As described in our proxy statement, there are four items of business for today's meeting. The first item of business is to elect the following people to serve as directors of the company: Charles Baker, Tim Flynn, Paul Garcia, Kristen Gil, Dr. Scott Gottlieb, Steve Hemsley, Bill McNabb, Dr. Valerie Montgomery Rice, and Dr. John Noseworthy. The second item of business is to consider and vote on a proposal relating to advisory approval of the company's executive compensation. The third item of business is to consider and vote on a proposal to ratify the appointment of Deloitte & Touche as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. The fourth item of business is to consider and vote on a shareholder proposal requesting the adoption of a policy to require any board chair to be independent. The shareholder proposal was submitted by The Accountability Board. The Accountability Board has provided a pre-recorded statement regarding that proposal. Operator, could you please play the proposal? Hi, everybody. Good morning. I'll keep this quick for the sake of time and just say that we think our proposal speaks for itself. We would refer folks to the proxy statement itself for any questions about the proposal. Thank you very much. Thank you, operator. Additionally, we note that a shareholder submitted a notice of an intent to present a floor proposal at this meeting. This notice failed to meet the requirements of our bylaws for consideration at this meeting and accordingly will be disregarded. At this time, all proposals have been presented, and the window to submit questions online, both with respect to the proposals as well as any general questions, is closed. I understand we have not received any questions specific to the proposals being voted on. At this time, I declare the polls to be officially closed for voting on all of the items of business for this annual meeting. Following the conclusion of the meeting and Steve's presentation that follows. Based on the tabulation of all the proxies received as of the opening of the polls at today's meeting, the Inspector of Election preliminarily reports the following. The total number of shares of common stock represented by proxy at this meeting was 768,061,869 shares. The director nominees named in the proxy statement have been duly elected. The company's executive compensation has received advisory approval from shareholders. The appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the company for fiscal year ending December 31, 2026, has been ratified. The shareholder proposal requesting the adoption of a policy to require any board chair to be independent did not pass. The final report of the Inspector of Election with the final tabulation will be filed with the records of this meeting, and the final results will be reported in a Form 8-K within four business days. There being no further business to come before the meeting, in accordance with the company's bylaws, the 2026 Annual Meeting of Shareholders is now concluded, and I hereby declare the formal portion of the 2026 Annual Meeting of Shareholders adjourned. Steve Hemsley, CEO of UnitedHealth Group, will make a few remarks about our business. I would like to remind you that portions of Steve's remarks may be forward-looking statements made under the protection of the Private Securities Litigation Reform Act. Our actual results may differ materially from those statements. The factors that could cause the results to differ materially can be found in the Cautionary Statement section of our 10-K and 10-Qs. Steve? Thank you, Chris. We thank you for joining us today and appreciate your engagement with and continued confidence in UnitedHealth Group. This enterprise has a profound social responsibility, serving the healthcare needs of millions of people at a time when the U.S. health system faces real strain. We take that responsibility seriously. The choices we make matter to patients, to care providers, to employers, government partners, and communities. The people of this company approach that work with humility, compassion, and integrity. Our mission is to help people live healthier lives and help make the health system work better for everyone. It is more relevant today than at any time in our company's history. It guides how we set priorities, how we invest, and how we hold ourselves accountable. When we met last year, we pledged to return to the level of accountability you expect from us, accountability for improved performance and for enhanced transparency. While there is more to do, we have made substantive progress on both fronts. Our performance over the last year, we have taken decisive steps to strengthen UnitedHealth Group and prepare it for the demands and opportunities ahead. We refocused the organization squarely on U.S. healthcare. We refreshed half of top leadership, and we accelerated modernization, simplifying operations, strengthening cybersecurity, and investing meaningfully in the application of intelligent technologies. The historic disciplines and innovations that have defined this enterprise, operational execution, service, and rigor, are rounding back into place. All this only matters if we're improving how people experience healthcare. We have comprehensively reviewed our products, services, and business practices. We've asked what works, what needs to be better, and what no longer serves people well. That work is driving real change, reducing administrative burden and friction, improving predictability for both consumers and care providers, increasing transparency, and supporting people more responsively, more personally, and more helpfully as they navigate care. We are applying these principles across the entire business, improving data and systemic interoperability, modernizing prior authorization, advancing transparency in pharmacy practices, and better aligning incentives around an evolving integrated value-based care system. Our goal is simple but challenging: help people get the right care at the right time in ways they understand and can afford, while better supporting clinicians and health systems in delivering that care effectively. Technology is a critical enabler of this progress. We're moving urgently and responsibly in the application of intelligent systems. These capabilities are already reducing burdens, improving experiences, and enabling better decision-making. We expect to invest nearly $1.5 billion as we begin to reimagine healthcare in 2026, and more in 2027 and beyond, with equal emphasis on impact, security, and discipline. Our commitment to greater performance and accountability extends to our management and corporate governance practices as well. Over the past year, we have strengthened our board through new committee and board leadership roles, added independent expertise, and created a public responsibility committee to ensure sustained focus on our obligations to the people and communities we serve. We have deepened our community engagement, investing substantial new resources in the United Health Foundation and increasing commitments to rural health, to workforce development, to maternal and children's health, and to behavioral health. These efforts reflect both our mission and our belief that long-term system improvement requires investment beyond any single organization. We have made progress in our commitment to increasing transparency in our businesses. We have commissioned independent reviews of our processes and performance in key areas such as risk assessment, pharmacy services, and care management. Where reviewers recommended process improvements, we made all of them. Where they found ways to improve our performance, we committed to doing so, even where we were already performing above existing industry and government benchmarks. We will continue this effort going forward. Thus far, reviews of our processes in those areas have been completed and posted on a part of our website dedicated to transparency. Over the coming quarters and years, you will see us publish even more data and hold ourselves more publicly accountable for progress and performance. This focus on transparency strengthens trust and supports a healthier, more accountable system for the long term. Just as important, it holds us accountable for continuing to improve our service to consumers, to care providers, patients, and you, our shareholders. Today, we are organizing our work around key priorities, further renewing our mission and culture, securely and thoughtfully applying intelligent technologies, accelerating modernization and experience and responsiveness, and integrated value-based care. We're operating at market-leading transparency. This management team understands we're still a long way from performing to our full potential. We are committed to reaching that potential quarter after quarter, and to report clearly to you on how we're progressing. UnitedHealth Group is entering a new era, one defined by better experience for patients and care providers, a more modern and transparent healthcare system, and sustainable long-term value for shareholders. Our people are committed to this work, and they're rising to the challenge. On behalf of the employees and the management team, thank you for your continued trust and partnership. We look forward to what lies ahead. Finally, on behalf of the board and management, I'd like to take a moment to acknowledge and thank Michele Hooper, who is retiring from the UnitedHealth Group Board of Directors after 19 years of service. Michele has been an invaluable and insightful member of our board over that time, always helpful in providing guidance to me, always ensuring the interests of our shareholders were well represented. We will miss her, and we wish her the best. Thank you. We'll now take your questions. There are two questions that have been submitted. The first question is, "The results from the audits that you have released seem to be more process-oriented rather than outcome-oriented. When will you be conducting and reporting on outcome-based audits? Well, we can both do this, Chris. I would agree that we started more with processes to build trust in those processes and to make sure that we were addressing any shortcomings in them, which was then to be followed by performance-oriented reviews, and I think some of those are moving forward. You can add to that. That's accurate, Steve. We will be reporting our outcomes-based reviews in the three areas where we did the processes reviews, and those will be coming in the coming months. Expect to see the first one shortly. The second question. At the last annual meeting, the company committed to transparency. How does reducing the discretionary disclosure of subsidiaries from 3,000 in 2025 to 10 in 2026 fit the aim of increased transparency? Hey, Chris, this is Wayne DeVeydt. I'll take a stab at that. This year, we did update our Exhibit 21 disclosures to focus on subsidiaries, meeting the SEC significant subsidiary standard, and aligns with the information shared with our stakeholders. In prior years, the exhibit included a broader set of legal entities, which reduced understandability as most entities were not significant, and many entities had limited or no business activity. Our updated approach will provide investors with clear and more decision-useful information. Thank you. I understand we have no further questions from the shareholders. Thank you for joining us today. That concludes the meeting. Thank you. The meeting has now concluded. Thank you for joining, and have a pleasant day.