Summary: Language Learning Stack Exchange will begin the nomination stage for a special election on July 12 to bring in one more moderator.
For full details of the process, see the announcement on Meta Stack Exchange. The timeline:
On July 19, if there are two or more candidates, we'll run an election. If not, I'll extend the nomination period for a week. If, at the end of that extension period there are still less than two candidates, I'll simply appoint the candidates. (There's a small chance we'll need to remove a nomination, but I doubt that will come up.)
If there is an election, I'll announce the results on meta on July 27 (or August 3, if we need to extend the nomination period).
(Note for current moderators: there's no need to nominate yourself even though you'll likely get an email saying you should. The system assumes the first election is a graduation election, which would mean moderators would need to be re-elected. This isn't that sort of election.)
If you have any questions about the process, please stick them in an answer here.