10x Genomics, Inc. ($TXG)

Hello, and welcome to the 10x Genomics Inc. Annual Meeting of Stockholders. Please note that this meeting is being recorded. [Operator Instructions].

Good afternoon. It is a pleasure to welcome all of you to the 2026 Annual Meeting of Stockholders of 10x Genomics, Inc. and call this meeting to order. I'm Serge Saxonov, Co-Founder, Chief Executive Officer and a member of the Board of Directors of 10x Genomics, and I will act as Chairperson of the meeting. Adam Taich, our Chief Financial Officer; Randy Wu, our General Counsel; and Cassie Corneau, 10x's Senior Director, Investor Relations and Strategic Finance; James Bryant, 10x's Senior Director, Corporate Legal; and Atticus Belcher from 10x's legal team join me in welcoming you today. James will act as Secretary of the meeting. I would also like to welcome the members of our Board of Directors who are present at today's meeting. I'm also pleased to welcome Casey Hayes, a representative of Ernst & Young, our external auditing firm, who is here to answer any appropriate questions. In addition, I'd like to welcome John Lundberg, a representative of Equiniti Trust Company, LLC, our transfer agent, who has been appointed to act as our Inspector of Election. Mr. Lundberg has signed an oath of office, which will be filed with the minutes of this meeting. Please note that this meeting is being recorded, and a replay of the audio cast will be posted to the Investor Relations section of our website at investors.10xgenomics.com as soon as practical.

Hi, I'm Cassie Corneau, Senior Director, Investor Relations and Strategic Finance at 10x Genomics. This meeting is the company's seventh Annual Meeting of Stockholders as a public company. We believe in engaging our stockholders and maximizing their ability to meaningfully engage with us. Today's virtual annual meeting allows our stockholders to participate in the meeting regardless of their location. Participants are also permitted to submit questions and stockholders can vote their shares online before the polls close. I will now turn the meeting over to James, who will explain certain procedures for today's meeting.

Thanks, Cassie. Today's meeting has been duly called and is being conducted in conformity with the laws of the State of Delaware and the company's charter and bylaws. The rules of conduct and procedures for this meeting are available by clicking the documents icon at the top of the right side of your screen, then click on the document titled Rules of Conduct and Procedures to you. It is 11:33 a.m. and the polls are open for voting. We'll close after a brief discussion of the proposals scheduled to be voted on today. If you've already voted and do not wish to change your vote, you do not need to do anything. If you haven't voted or if you voted previously, but want to change your vote, you may do so now by clicking on the Vote My Shares link on the right side of your screen. Momentarily, Serge will introduce each of the 3 proposals scheduled to be voted on today. We'll then pause for questions on the proposals before closing the polls. Polls for each matter upon which stockholders will vote at this meeting will remain open until we announce the polls are closed. No ballots or proxies, revocations or changes of proxies will be accepted after the polls are closed. Under Section 2.03 of our company's bylaws, in order for a stockholder proposal to have been properly brought before this 2026 Annual Meeting of Stockholders, the proposal was required to be submitted to the company's secretary not later than the close of business on the 90th day and not earlier than the close of business on the 120th day prior to June 4, 2026. Since no such proposals were submitted with respect to this annual meeting, no such proposals will be considered at this meeting. After closing the polls, we will provide the preliminary results of the voting based on the preliminary report from Mr. Lundberg, who, as Serge has noted, has been appointed to act as Inspector of Election and is present at today's meeting. To submit any questions, you may do so by clicking on the questions box on the right side of your screen, typing your question into the text box and clicking submit button below the text box. in order to ensure that the business of the meeting proceeds in an orderly fashion, we ask that you please observe the meeting rules and only submit questions directly related to the business of the meeting. In the interest of all stockholders, we will only address those questions that are pertinent to the business of this meeting. Following Q&A, we will formally adjourn. Atticus?

It is possible our discussion at today's meeting, including some of our comments and responses to your questions may include forward-looking statements, which are predictions, projections or other statements about future events. These statements are not historical facts and are subject to known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from such anticipated results, performance or achievements expressed or implied by such forward-looking statements. Accordingly, such forward-looking statements should not be relied upon, and except to the extent required by applicable securities law, we undertake no obligation to publicly update or revise any forward-looking statements. And thus, it should not be assumed that our silence over time means that actual events are occurring as expressed or implied in such forward-looking statements. Please refer to our discussions set forth under the Forward-Looking Statements section of our earnings releases as well as under the caption Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2025, and in our quarterly report on Form 10-Q for the quarter ended March 31, 2026, as such risks, uncertainties and factors may be updated in the company's periodic filings with the SEC. With that, I will now turn it back over to Serge.

Thanks, Atticus. Equiniti has delivered an affidavit of mailing that shows that proper advance notice of this meeting and distribution of these documents was given to our stockholders of record as of the close of business on April 8, 2026, the date fixed by our Board of Directors as the record date for the determination of stockholders entitled to receive notice of and to vote at this meeting. A copy of the notice of this meeting and the affidavit of mailing will be incorporated into the minutes of this meeting. All stockholders of record at the close of business on April 8, 2026, are entitled to vote at this annual meeting, and the list of stockholders of record is available to stockholders read. Our first item of business is to determine whether we have a quorum for the purpose of transacting business. Mr. Lundberg, do you have a report?

Yes. The stockholders' list shows that holders of 118,912,062 shares of Class A common stock and 10,078,872 shares of Class B common stock of the company for a combined total of 219,700,782 votes are entitled to vote at this meeting. They are represented in person or by proxy at this meeting, a combined total of 198,815,518 votes, representing approximately 90.49% of the voting power of the Class A and Class B shares entitled to vote at this meeting.

Thank you. Because holders of a majority of the voting power of the shares entitled to vote at this meeting are present in person or by proxy, we have a quorum for the transaction of business, and this meeting is duly convened. The next item of business is a description of the matters to be voted on at today's meeting. After all 3 proposals have been presented, we will answer questions. The polls will close after this discussion. The first proposal is the election of 3 Class I director nominees to serve 3-year terms expiring at our 2029 Annual Meeting of Stockholders or until his successor is duly elected and qualified or until his earlier death, resignation, disqualification or removal. The Board of Directors recommends the election of myself, Ben Hindson and John Stuelpnagel as Class I directors of the company. Because we have an advanced notice provision in our bylaws, all further nominations are closed. The second proposal is the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for our fiscal year ending December 31, 2026. The Board of Directors recommends that stockholders vote in favor of this proposal. And finally, the last proposal is to consider a nonbinding advisory resolution, commonly known as a say-on-pay proposal to approve the compensation of our named executive officers. The Board of Directors recommends that stockholders vote in favor of this proposal.

This concludes our presentation of the proposals at this meeting. Does anyone have any questions related to any of the proposals? We will give folks about 1 minute to submit any questions.

Thanks, Serge and Cassie. At this time, no questions regarding the proposals have been submitted. Having not received any questions, I'm now going to proceed with the voting. Noted previously, if you've already voted and do not wish to change your vote, you do not wish to do -- you do not need to do anything. If you haven't voted or if you voted previously but want to change your vote, you may do so now online by clicking the Vote My Shares link on the right side of your screen. We will give you a moment. The polls will be closing shortly. Now that time has been given to vote, it is 11:42 a.m., and I hereby declare the polls closed for vote.

At this time, I will ask James to report the preliminary results of the voting.

The preliminary report of the Inspector of Election indicates that Serge Saxonov, Ben Hindson and John Stuelpnagel have been duly elected to our Board of Directors, that the appointment of Ernst & Young LLP as independent registered public accounting firm for fiscal year 2026 has been ratified and that our stockholders have approved on a nonbinding advisory basis, the compensation paid to our named executive officers. The final voting results will be contained in the Form 8-K that will be filed with the SEC within 4 business days following this meeting. This concludes the formal business of the meeting.

Thank you for your participation in today's conference. This concludes the program. You may now disconnect.