American Homes 4 Rent (AMH) Earnings Call Transcript & Summary

Good morning. I'm David Singelyn, Chief Executive Officer and Trustee of American Homes 4 Rent. I welcome you to the 2021 Annual Meeting of Shareholders of American Homes 4 Rent and call the meeting to order. Other trustees of the company who are joining me virtually are Kenneth Woolley, Chairman; Douglas Benham, Jack Corrigan, David Goldberg, Tamara Gustavson, Matthew Hart, Michelle Kerrick, James Kropp, Lynn Swann, Winifred Webb, Jay Willoughby, and Matthew Zaist. Additionally, Louis D. Larsen, a representative of Broadridge, is present and has been appointed to act as inspector of election. The company's Chief Legal Officer and Secretary, Sara Vogt Lowell, shall serve as secretary of the meeting. Please note that shareholders will have an opportunity to ask questions after we conclude the formal portion of the meeting. Any shareholder having a question can submit them via the website by using the Q&A button on your console. I will now turn the meeting over to Anne McGuinness, the company's Investor Relations Manager, to report certain matters.

Thank you, Dave. A Notice of Meeting, proxy, proxy statement and annual report were first mailed or provided via the Internet on or about March 22, 2021, to all shareholders of record at March 9, 2021, of Class A and Class B common shares of beneficial interest of American Homes 4 Rent. March 9, 2021, was the date picked by the Board of Trustees for the determination of shareholders entitled to vote at this meeting. The company secretary has received proof of this mailing in the form of an affidavit of mailing from Broadridge. The materials sent to the shareholders, the affidavit of mailing and a record of shareholders entitled to vote at this meeting are available for inspection by any shareholder during the meeting. Please note that we have also posted the rules of conduct for the meeting on the website used to access the meeting. Any shareholder present who has not voted by proxy wishes to change his or her vote or otherwise wishes to vote during the meeting may do so at this time via the website used to access this meeting. Shareholders who have voted by proxy and do not wish to change your vote do not need to take any further action. The polls will close shortly. So for anyone that has not voted or submitted a proxy, please vote now. [Voting]

The company secretary has been advised by the inspector of elections that a majority of the outstanding shares entitled to vote on each matter before the meeting is present in person or by proxy so that a quorum is present for all purposes. Therefore, the business of the meeting can proceed. As set forth in the proxy statement, there are 6 items scheduled to be submitted to a vote of the company shareholders today. The first item of business is the election of 13 trustees of American Homes 4 Rent to serve until the 2022 annual meeting and until a successor is duly elected and qualified. The nominees for election are Kenneth M. Woolley, David P. Singelyn, Douglas N. Benham, Jack Corrigan, David Goldberg, Tamara H. Gustavson, Matthew J. Hart, Michelle C. Kerrick, James H. Kropp, Lynn C. Swann, Winifred M. Webb, Jay Willoughby and Matthew R. Zaist. The second item for consideration is shareholder approval of the American Homes 4 Rent 2021 Equity Incentive Plan. The third item for consideration is shareholder approval of the American Homes 4 Rent 2021 Employee Stock Purchase Plan. The fourth item for consideration is the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2021. A representative from Ernst & Young, Jim McCaulley, is present at the meeting and is available to answer questions that any shareholder may have after the meeting has concluded. The fifth item for consideration is a shareholder advisory vote to approve the company's executive compensation as disclosed in the proxy statement pursuant to the SEC's disclosure rules. The sixth item for consideration is the shareholder advisory vote on the frequency of future advisory votes on the company's executive compensation. The company secretary has received a report of the vote on the election of the Board of Trustees. The holders of an affirmative majority of the votes cast at the meeting has voted for the elections of each of the persons named in the proxy statement as trustees of American Homes 4 Rent. Those persons are hereby declared elected. The American Homes 4 Rent 2021 Equity Incentive Plan, the American Homes 4 Rent Employee Stock Purchase Plans and the ratification of Ernst & Young LLP as independent registered public accountants as a company for fiscal year 2021 are each also approved by a majority of the votes cast. A majority of the shareholders voting on an advisory basis approves the company's compensation as executive officers as described in the proxy statement and voted 1 year for the frequency of future advisory votes to approve the company's compensation of executive officers. There being no further business to come before the meeting, the formal portion of the meeting is concluded. I'd like to thank our inspector, Louis Larsen, for your participation. I will now turn the meeting back to Dave Singelyn.

Thanks, Anne. And thank you all for joining the 2021 Annual Meeting of Shareholders of American Homes 4 Rent. The meeting is adjourned.